Gas Price Movement – September 2, 2021

Brent Oil

Brent oil prices increased by 3.15% or US$2.24, as prices increased this week relative to the prior week. Oil traded on September 2, 2021 at a price of US$73.31 per barrel relative to US$71.07 on August 26, 2021. Brent oil opened 2021 year at US$54.52 per barrel.

Petrojam prices

87 Octane prices increased this week by 1.72% (JMD$2.63). Additionally, 90 Octane increased by 0.95% or (JMD$1.52) this week. 87 Octane and 90 Octane opened the year 2021 at J$112.05 and J$114.89 respectively and now trades at J$155.31 and J$160.96 per litre respectively.

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

This Week in Petroleum

U.S. average regular gasoline price decreases and diesel prices increases

On August 30, 2021, it was noted that, “The U.S. average regular gasoline retail price decreased nearly 1 cent to $3.14 per gallon on August 30, 0.92 cents higher than the same time last year.” The Gulf Coast price decreased nearly 3 cents to $2.77 per gallon, the Rocky Mountain price decreased nearly 2 cents to $3.65 per gallon, the West Coast price decreased 1 cent to $3.94 per gallon, and the East Coast price decreased less than 1 cent, remaining virtually unchanged at $3.02 per gallon. The Midwest price increased less than 1 cent, remaining virtually unchanged at $3.00 per gallon.

The average diesel fuel price increased almost by 2 cents to $3.34 per gallon on August 30, 90 cents higher than a year ago. The Midwest price increased nearly 3 cents to $3.24 per gallon, the Gulf Coast price increased more than 2 cents to $3.06 per gallon, and the East Coast and West Coast prices each increased nearly 1 cent to $3.31 per gallon and $4.00 per gallon, respectively. The Rocky Mountain price decreased more than 1 cent to $3.63 per gallon.

Inventories for Propane/propylene rise

There was an increase in U.S. propane/propylene stocks last week by 0.5 million barrels last week to 69.3 million barrels as of August 27, 2021, 17.1 million barrels (19.8%) less than the five-year (2016-2020) average inventory levels for this same time of year.

Additionally, Midwest and Rocky Mountain/West Coast inventories increased by 1.1 million barrels and 0.1 million barrels, respectively. Gulf Coast inventories decreased by 0.5 million barrels, and East Coast inventories decreased slightly, remaining virtually unchanged.

For additional information click the link below:


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 affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned here