Brent oil prices decreased by 2.66% or US$2.04, as prices declined this week. Oil traded on November 01, 2018 at a price of US$74.66 per barrel relative to US$76.70 last week. Brent oil began the year at US$68.07 per barrel.
87 Octane prices decreased week over week, by 0.94% (JMD$1.29). Additionally, 90 Octane decreased by 0.92% or (JMD$1.29) week over week. 87 Octane and 90 Octane opened the year at J$121.04 and J$123.88 respectively and now trades at J$135.95 and J$138.79 per litre respectively.
Figure 1: Petrojam, U.S. Gulf Coast Conventional Gasoline Regular and Brent Crude Oil 1 Year Price History
This Week in Petroleum
U.S. average regular gasoline and diesel prices decrease
On October 29, 2018, “The U.S. average regular gasoline retail price declined three cents from the previous week to $2.81 per gallon, up 32 cents from the corresponding period of last year. Gulf Coast prices decreased almost six cents to $2.52 per gallon, East Coast prices fell over four cents to $2.73 per gallon, West Coast prices declined almost two cents to $3.48 per gallon. Midwest prices went down almost one cent to $2.68 per gallon and Rocky Mountain prices decreased less than a cent, remaining unchanged at $2.96 per gallon.”
“The U.S. average diesel fuel price dipped nearly three cents to $3.36 per gallon on October 29, 2018, 54 cents higher than last year. Gulf Coast prices decreased four cents to close at $3.12 per gallon, while West Coast, East Coast and Midwest prices each declined over two cents to $3.85 per gallon, $3.35 per gallon and $3.31 per gallon, respectively. Rocky Mountain prices fell less than a cent, remaining unchanged at $3.41 per gallon.”
Inventories for Propane/propylene rise
There was a rise in U.S. propane/propylene stocks last week by 1.0 million barrels to 83.0 million barrels as of October 26, 2018. This was 2.1 million barrels (2.5%) lower than the five-year average inventory level year over year. Gulf Coast and Rocky Mountain/West Coast went up by 1.4 million barrels and 0.1 million barrels, respectively. While, Midwest and East Coast inventories declined by 0.3 million barrels and 0.2 million barrels, respectively. Propylene non-fuel-use inventories reflected a 3.9% of total propane/propylene inventories.
For additional information click the link below:
Disclaimer: Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.