Gas Price Movement- September 12, 2019

Brent Oil

Brent oil prices decreased by 0.97% or US$0.59, as prices decreased this week relative to the prior week. Oil traded on September 12, 2019 at a price of US$60.36 per barrel relative to US$60.95 on September 05, 2019. Brent oil began the year at US$54.91 per barrel.

Petrojam prices

87 Octane prices decreased this week by 2.76% (JMD$0.07). Additionally, 90 Octane increased by 0.05% or (JMD$0.07) this week. 87 Octane and 90 Octane opened the year at J$116.75 and J$119.59 respectively and now trades at J$129.05 and J$131.89 per litre respectively.

Figure 1: Petrojam, U.S.  Gulf Coast Conventional Gasoline Regular and Brent Crude Oil 1 Year Price History

 

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U.S. average regular gasoline and diesel prices decrease

On September 09, 2019, it was noted that, “The U.S. average regular gasoline retail price fell over 1 cent from the previous week to $2.55 per gallon, almost 28 cents lower the same time last year. The Midwest price dropped nearly 3 cents to $2.44 per gallon, and the East Coast price declined close to 2 cents to $2.46 per gallon. In addition, the Gulf Coast price went up 1 cent to $2.24 per gallon, and the West Coast and Rocky Mountain prices each rose close to 1 cent to $3.25 per gallon and $2.63 per gallon, respectively.”

“The U.S. average diesel fuel price went down 1 cent remaining at $2.97 per gallon on September 09, 29 cents lower than the same time last year. The Midwest price decreased 1 cent to $2.86 per gallon, and the West Coast and East Coast prices each fell nearly 1 cent to $3.55 per gallon and $2.99 per gallon, respectively. Moreover, the Rocky Mountain and Gulf Coast prices each increased nearly 1 cent to $2.93 per gallon and $2.75 per gallon, respectively.”

Inventories for Propane/propylene rise

There was an increase in U.S. propane/propylene stocks last week by 0.7 million barrels to 97.8 million barrels as of September 06, 2019. This was 12.1 million barrels (14.1%) higher than the five-year (2014-2018) average inventory level year over year. Additionally, Gulf Coast inventories increased by 0.5 million barrels, and Midwest and Rocky Mountain/West Coast inventories each increased by 0.2 million barrels. East Coast inventories decreased by 0.2 million barrels. Propylene non-fuel-use inventories represented 4.2% of total propane/propylene inventories.

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2019-09-12T18:00:11+00:00