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Gasoline Overproduction Leads To Negative Margins
Oilprice.com ^ | 01-25-2019 | Irina

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 ...


TOPICS: Business/Economy
KEYWORDS: china; crackspread; energy; gasoline; gasprices; hydrocarbons; japan; maga; netherlands; opec; refining; singapore

1 posted on 01/25/2019 10:20:01 AM PST by bananaman22
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To: bananaman22

Overproduction? Nobody told the suppliers in the Reno market we have a glut. Still $2.78/g regular.


2 posted on 01/25/2019 10:22:07 AM PST by rktman ( #My2ndAmend! ----- Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?)
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To: bananaman22
Hmmm.... current stock price changes:

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

3 posted on 01/25/2019 10:24:43 AM PST by G Larry (There is no great virtue in bargaining with the Devil)
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To: rktman

1.98 in East Texas


4 posted on 01/25/2019 10:28:49 AM PST by wild74
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To: wild74

$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


5 posted on 01/25/2019 10:33:05 AM PST by DallasGal (When your honor, integrity and trustworthiness are gone, you are nothing.)
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To: bananaman22
https://www.gasbuddy.com/GasPrices/Colorado

$1.70s in Colorado. State demonicrats are sick..

6 posted on 01/25/2019 10:35:16 AM PST by mountainlion (Live well for those that did not make it back.)
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$2.47 is the best I can do in Southern Oregon. I guess the glut hasn’t hit the west coast yet.


7 posted on 01/25/2019 10:41:36 AM PST by Rio
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To: bananaman22

perhaps some kind FRer could post the latest
3 2 1 crack spread.

tia

Rocky


8 posted on 01/25/2019 10:44:30 AM PST by RockyTx
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To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...
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.

9 posted on 01/25/2019 10:57:44 AM PST by SunkenCiv (and btw -- https://www.gofundme.com/for-rotator-cuff-repair-surgery)
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To: rktman

Anything over .50 cents a gallon is too much.


10 posted on 01/25/2019 11:47:20 AM PST by RedStateRocker
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To: RedStateRocker
⛽️💰💰💰
11 posted on 01/25/2019 11:48:49 AM PST by rktman ( #My2ndAmend! ----- Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?)
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To: rktman

On the west coast, it is getting to the point where the tax on gasoline exceeds the wholesale cost.


12 posted on 01/25/2019 11:50:22 AM PST by RinaseaofDs
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To: Rio

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.


13 posted on 01/25/2019 6:31:43 PM PST by Stayingawayfromthedarkside (Look, is it America that I see again?)
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