Retail regular gasoline prices fell by 26c in the last four weeks to $3.053/Gal. About 57% 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 rose by 0.4 MMBbl for the week ending December 8 and are about 2% below the five-year average for this time of year
BP restarts pipeline after gasoline spill in Washington state (PGJ)
BP has resumed operations of the Olympic Pipeline after repairing a leak that released 25,000 gallons of gasoline
The spill cleanup involved the EPA and local officials, with 7,000 gallons recovered and some wildlife fatalities
The cause of the leak was a tubing failure, and the pipeline was shut down after a pressure loss was detected
Following the spill, gasoline prices in the Pacific Northwest market were up by 2c
Retail diesel prices fell by 40.2c in the last four weeks to $3.894/Gal. About 46% 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 1.5 MMBbl for the week ending December 8 and are about 12% below the five-year average for this time of year
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