By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices surged in February, with the futures contract soaring to a high last seen on July 28, 2011, with gasoline demand during the summer months the highest. The gasoline futures contract, called RBOB (Reformulated Blendstock for Oxygenate Blending) and trades on the New York [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN In its most recent Short-term Energy Outlook, the Energy Information Administration (EIA) pointed to a 25% probability based on activity in the financially traded gasoline market that its U.S. average price for regular grade gasoline would top $4 gallon in June. “Recent options and futures price [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline values continue to find upside price support from refinery closures impacting the New York Harbor, with markets quickly popping higher on news of new unplanned downtime at other refineries even though there’s ample slack in the system while preliminary data from the Energy Information [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline prices for the week-ended Jan. 30 were sharply higher in most major metropolitan markets across the U.S. , with those costs pushed up by a string of refinery closures due to economics and unscheduled repairs. On Friday (1/27), the New York Mercantile Exchange RBOB [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN While mixed, wholesale gasoline prices mostly increased in major metropolitan markets across the U.S. during the third week in January, setting the stage for another increase in the U.S. retail average, which increased for the fifth consecutive week through Jan. 16. The Energy Information Administration (EIA) [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN The Energy Information Administration’s (EIA) U.S. retail regular grade gasoline average has now gained for four consecutive weeks through Jan. 9 to a $3.382 gallon two-month high, climbing 15.3 cents since Dec. 19. Of that total advance, 8.3cts of the gain took place during the week-ended [...]
The U.S. retail price average for regular grade gasoline reported by the Energy Information Administration (EIA) reached a five-week high at $3.299 gallon in beginning 2012, and is set to notch its third straight weekly increase amid higher wholesale costs. Several factors continue to drive gasoline prices higher despite ongoing weak demand, with preliminary EIA [...]
Hovering at a 10-month low, the US retail gasoline price average provided by the Energy Information Administration should continue to leak lower for the balance of the year, benefiting travelers during the holiday travel season. This remains true despite the reality that pump prices are roughly 10% higher now than during the comparable year-ago period. [...]
For the week through Dec. 5 U.S. wholesale gasoline costs mostly increased, while activity in the European Union coupled with heightened rhetoric from Iran are seen pushing gasoline prices even higher. Additionally, Sunoco Inc. announced Dec. 1 that it was beginning to idle the main process units at it Marcus Hook refinery near Philadelphia, Pa., [...]
After popping higher by a little more than a penny during the week-ended Nov. 14, the U.S. average for gasoline sold across the country’s retail outlets should resume its downtrend. The Energy Information Administration (EIA) releases its weekly gasoline average late afternoon on Mondays, with the average last reported 1.2 cents higher at $3.436 gallon [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Day to day, markets of various stripes have seen wide price movements, reflecting not only uncertainty but fear. These broad swings are also true for gasoline, which has had several whipsaw sessions of its own with no sign of abate, while gasoline also reacts to broader [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN Retail gasoline prices are at seven-month lows which equates to the decline in gasoline futures trading, with the gasoline contract having tumbled to its lowest level since mid-February. Lower wholesale costs are still moving through the supply chain, so the decline in pump prices will continue [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN For some, the unpleasant reality of $4 gallon gasoline has already occurred, namely in California, where the Energy Information Administration reported in early April an average price for regular grade gasoline at $4.057 gallon. As of April 4, the EIA pegged the average for Chicago at [...]
Sunoco Inc. has reached a definitive agreement to sell its 170,000 barrel-per-day refinery in Toledo, Ohio to Toledo Refining Company LLC, a wholly owned subsidiary of PBF Holding Company LLC. Sunoco plans to sell the refinery for approximately $400 million (consisting of $200 million in cash and a $200 million two-year note). In addition, the [...]