Gas Price Movement – October 25, 2018

Brent Oil

Brent oil prices decreased by 2.65% or US$2.09, as prices declined this week. Oil traded on October 25, 2018 at a price of US$76.70 per barrel relative to US$78.79 last week. Brent oil began the year at US$68.07 per barrel.

Petrojam prices

87 Octane prices decreased week over week, by 1.52% (JMD$2.12). Additionally, 90 Octane decreased by 1.49% or (JMD$2.12) 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$137.24 and J$140.08 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 22, 2018, “The U.S. average regular gasoline retail price declined almost four cents from the previous week to $2.84 per gallon, up 36 cents from the corresponding period of last year. The Midwest prices fell nearly seven cents to $2.69 per gallon, Gulf Coast prices decreased almost five cents to $2.58 per gallon, East Coast prices dropped more than three cents to $2.78 per gallon, while Rocky Mountain prices declined nearly two cents to $2.96 per gallon. In addition, West Coast prices rose less than a cent to $3.50 per gallon.”

“The U.S. average diesel fuel price dipped more one cent and remained at $3.38 per gallon on October 22, 2018, 58 cents higher than last year. Gulf Coast prices decreased two cents to $3.15 per gallon, Midwest prices fell almost two cents to $3.33 per gallon, East Coast decreased over a cent to $3.37 per gallon, and West Coast went down close to a cent to $3.87 per gallon. Furthermore, Rocky Mountain prices rose nearly a cent to $3.41 per gallon.”

Inventories for Propane/propylene declined slightly

There was a decline in U.S. propane/propylene stocks last week by 0.3 million barrels to 82.0 million barrels as of October 19, 2018. This was 3.9 million barrels (4.5%) lower than the five-year average inventory level year over year. Midwest and Rocky Mountain/West Coast inventories each fell by 0.2 million barrels, while East Coast inventories slightly decreased, remaining unchanged. However, Gulf Coast inventories went up by 0.1 million barrels. Propylene non-fuel-use inventories reflected a 3.4% of total propane/propylene inventories.

For additional information click the link below:

This Week in Petroleum

 

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.

2018-10-25T16:56:45+00:00