Skip to comments.Gasoline Overproduction Leads To Negative Margins
Posted on 01/25/2019 10:20:01 AM PST by bananaman22
Excess supply of gasoline coupled with slow demand has pressured refiners margins, Reuters reports, noting refining margins for the fuel in the United States sank to US$45.70 a barrel yesterday.
The drop follows the fourth weekly increase in gasoline inventories in the U.S., all of them quite hefty, leading to an all-time high of gasoline supplies, at 259.6 million barrels as of January 18.
Over the last four weeks, the Energy Information Administration reported gasoline inventory builds reaching a combined 26.6 million barrels.
However, the United States is not the only large gasoline hub where inventories are rising as demand remains sluggish. According to the Reuters report, inventories in the Netherlands, Japan, and Singapore are also at multi-year highs, with the annual increase in their combined level at 21 million barrels, data from consultants FGE has shown.
(Excerpt) Read more at oilprice.com ...
Overproduction? Nobody told the suppliers in the Reno market we have a glut. Still $2.78/g regular.
DK 31.91 +$1.27
TOT $54.34 +1.00
MPC $64.69 +$1.58
CJ $16.49 + $0.59
BCEI $24.73 + $0>68
1.98 in East Texas
$1.77 3 weeks ago, $1.88 Last week, $1.99 early this week, but dropped a bit. FORT worth. I’m not complaining that’s for sure
$1.70s in Colorado. State demonicrats are sick..
$2.47 is the best I can do in Southern Oregon. I guess the glut hasn’t hit the west coast yet.
perhaps some kind FRer could post the latest
3 2 1 crack spread.
According to the Reuters report, inventories in the Netherlands, Japan, and Singapore are also at multi-year highs, with the annual increase in their combined level at 21 million barrels, data from consultants FGE has shown.
In part, it's a consequence of beating China's ass.
Anything over .50 cents a gallon is too much.
On the west coast, it is getting to the point where the tax on gasoline exceeds the wholesale cost.
I paid 2.46 here in AZ today. I was surprised when I saw that while pumping gas. It put a “smirk” on my face.
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