Retail regular gasoline prices rose by 27.7c in the last four weeks to $3.868/Gal. About 50% of the change was due to the price of crude oil, while the remainder was the refinery margin
Scroll down for a chart of the RBOB-WTI crack spread, a measure of refinery margin. It shows elevated cracks this year
Total motor gasoline inventories fell by 0.3 MMBbl for the week ending August 11 and are about 6% below the five-year average for this time of year
Gasoline price nears seasonal record highs, raising inflation concerns (Bloomberg)
US retail gasoline prices are near their highest seasonal level ever at $3.854/gal, marking the second-highest seasonal price since 2008, according to AAA
Low inventories and refinery operations impacted by record heat have driven the recent price surge, reminiscent of last year's inflation spike
While the Atlantic hurricane season threatens further price escalation, prices have dropped for five consecutive days after a nearly 9% July increase
Retail diesel prices rose by 51.2c in the last four weeks to $4.389/Gal. About 47% of the change was due to the price of crude oil, while the remainder was the refinery margin
Scroll down for a chart of the NY Harbor ULSD-WTI crack spread, a measure of refinery margin. It shows elevated cracks this year
Distillate fuel inventories rose by 0.3 MMBbl for the week ending August 11 and are about 16% below the five-year average for this time of year
US diesel market tightens as winter demand approaches (Bloomberg)
Prompt month NY Harbor ULSD prices rose by nearly 68c since early July to $3.131/Gal
US retail diesel prices have been contributing more to inflation than gasoline in August, with challenges in stockpiling during the typical summer build-up, according to data compiled by Bloomberg
Rising diesel prices are driven by a global supply crunch, tight inventories, heightened winter demand expectations, and operational challenges, including heatwaves and refinery maintenance
Furthermore, net-long positions on Nymex diesel jumped to an 18-month high earlier this month
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