Skip to main content

· One min read
Gabriel Smadi

Summary

US West Texas Intermediate (WTI) is currently trading at $78 per barrel, a slight $1 increase from beginning of the week.

Fuel prices collected by DACO on Feb 28th show wholesale diesel prices stand at $3.45 per gallon on average. We see a reported low of $3.29 per gallon (American Petroleum) and a high of $3.59 per gallon (Peerless Oil).

Wholesale gasoline prices on average marked around $3.15 per gallon, showing a slight uptrend, with a low of $3.09 per gallon (76 / Phillips) and a high of $3.23 per gallon (Total Petroleum).

Wholesale Diesel (Puerto Rico)

Wholesale Diesel Prices

Wholesale Diesel Trend

Wholesale Diesel v NY USDL Futures

Wholesale Gasoline (Puerto Rico)

Wholesale Gasoline Prices

Wholesale Gasoline Trend

Wholesale Gasoline v RB Gasoline Futures

Crude Oil Benchmarks

Oil Benchmarks

References

· One min read
Gabriel Smadi

Summary

US West Texas Intermediate (WTI) ended the trading day yesterday at around $77.58 per barrel, close to a $1 increase from last close the previous week.

As seen by fuel prices collected by DACO on Feb 27th, wholesale diesel prices stand at $3.47 per gallon on average. We see a reported low of $3.42 per gallon (BVI Gas Inc.) and a high of $3.58 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.12 per gallon, with a low of $3.05 per gallon (Bita's Fuel Corp.) and a high of $3.21 per gallon (Total Petroleum).

Wholesale Diesel (Puerto Rico)

Wholesale Diesel Prices

Wholesale Diesel Trend

Wholesale Diesel v NY USDL Futures

Wholesale Gasoline (Puerto Rico)

Wholesale Gasoline Prices

Wholesale Gasoline Trend

Wholesale Gasoline v RB Gasoline Futures

Crude Oil Benchmarks

Oil Benchmarks

References

· 3 min read
Gabriel Smadi

What to expect

Given the ups and downs of last week with crude oil and local wholesale fuel prices, we expect price activity to remain moderetely steady with no significant movements.

To recap, Puerto Rico wholesale diesel prices ended last week around $3.48 per gallon on average, whereas wholesale regular gasoline ended at $3.12 per gallon on average. We dont see much movement in the market justifying a significant move from these averages during last 2 weeks. US West Texas Intermediate (WTI) closed last week around $76.49 per barrel, and today early trading has seen it hover around the $76 dollar range.

Highlights

  • US inflation as measured by the Consumer Price Index, rose 3.1% during January 2024 US CPI Jan 2024

  • The Federal Reserve met last week, deciding to keep interest rates unchanged due to latest inflation numbers, and hinting that rate changes might not come till later this year. As of writing, target fed funds rate target is 5.50%, whereas the effective fed funds rate remains around 5.33%.

    Philadelphia Fed President Patrick Harker said Thursday that the Fed may be "near" a time where it can begin lowering rates, while Fed vice chair Philip Jefferson predicted that wouldn't happen until "later this year."

  • US crude oil inventory rose to 3.5 million barrels, while production numbers remained unchanged compared to last 2 weeks

    Commercial crude-oil stocks excluding the Strategic Petroleum Reserve rose by 3.5 million barrels to 443 million barrels in the week ended Feb. 16 and were about 2% below the five-year average for the time of year, the EIA said. Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would rise by 3.2 million barrels. U.S. crude oil production was around 13.3 million barrels a day, unchanged from the previous week, while crude imports rose by 184,000 barrels a day to 6.7 million barrels a day and exports increased by 618,000 barrels a day to 5 million barrels a day.

  • OPEC+ is schedule to meet early next month, in March, to discuss crude oil production output. The cartel has currently set a price target of $90 per barrel, with last basket reference price (ORB) standing at around $82.90. We note, OPEC+ nations production approximately 40% of the worlds oil production and jointly the nations hold approximately 80% of world reserves.

Crude Oil Benchmarks

Oil Benchmarks

References

· One min read
Gabriel Smadi

Summary

US West Texas Intermediate (WTI) closed the week at $76.49 per barrel, a -3.4% drop compared to last week (a $2.70 difference), which closed at $79.19 on Feb 16th.

Prices collected by DACO on Feb 24th, 2024 show wholesale diesel prices stand at $3.44 per gallon on average. We see a reported low of $3.24 per gallon (BVI Gas Inc.) and a high of $3.55 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.09 per gallon, with a low of $3.00 per gallon (BVI Gas Inc.) and a high of $3.17 per gallon (Texaco).

Wholesale Diesel (Puerto Rico)

Wholesale Diesel Prices

Wholesale Diesel Trend

Wholesale Gasoline (Puerto Rico)

Wholesale Gasoline Prices

Wholesale Gasoline Trend

Crude Oil Benchmarks

Oil Benchmarks

References

· One min read
Gabriel Smadi

Summary

US West Texas Intermediate (WTI) continues to stand at an approximate $77-$78 per barrel without any major price movements this week.

As seen by prices collected via DACO on Feb 23rd, 2024, wholesale diesel prices stand at $3.48 per gallon on average. We see a reported low of $3.30 per gallon (American Petroleum) and a high of $3.58 per gallon (Texaco). Generally, wholesale diesel prices have seen a slight increase compared to yesterday.

Wholesale gasoline prices on average marked around $3.12 per gallon, an increase of +$0.03 compared to yesterday, with a low of $3.05 per gallon (Bita's Fuel Corp.) and a high of $3.21 per gallon (Texaco).

Wholesale Diesel (Puerto Rico)

Wholesale Diesel Prices

Wholesale Diesel Trend

Wholesale Diesel v NY USDL Futures

Wholesale Gasoline (Puerto Rico)

Wholesale Gasoline Prices

Wholesale Gasoline Trend

Wholesale Gasoline v RB Gasoline Futures

Crude Oil Benchmarks

Oil Benchmarks

References

· One min read
Gabriel Smadi

Summary

Crude oil in the US (WTI) between yesterday and today ranges around $77-78 per barrel. No major market movements nor highlights.

Prices collected by DACO on Feb 22nd show wholesale diesel prices at $3.43 per gallon on average. We see a reported low of $3.25 per gallon (American Petroleum) and a high of $3.55 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.09 per gallon, a small increment from yesterdays computed average, with a low of $3.01 per gallon (BVI Gas Inc. dba Cabo Rojo Gas & Oil) and a high of $3.17 per gallon (Texaco).

Wholesale Diesel (Puerto Rico)

Wholesale Diesel Prices

Wholesale Diesel Trend

Wholesale Diesel v NY USDL Futures

Wholesale Gasoline (Puerto Rico)

Wholesale Gasoline Prices

Wholesale Gasoline Trend

Wholesale Gasoline v RB Gasoline Futures

Crude Oil Benchmarks

Oil Benchmarks

References

· One min read
Gabriel Smadi

Summary

Crude oil in the US (WTI) closed trading yesterday at $78.18 but has continued trading today at an approxaimte $2 reduction fluctuating around $76 per barrel.

Prices reported by DACO on Feb 21st show wholesale diesel prices at $3.45 per gallon on average, a small reduction compared to yesterday. We see a reported low of $3.28 per gallon (American Petroleum and BVI Gas Inc.) and a high of $3.58 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.08 per gallon, a -$0.03 reduction from yesterdays computed average, with a low of $3.00 per gallon (BVI Gas Inc. dba Cabo Rojo Gas & Oil) and a high of $3.17 per gallon (Texaco).

Wholesale Diesel (Puerto Rico)

Wholesale Diesel Prices

Wholesale Diesel Trend

Wholesale Diesel v NY USDL Futures

Wholesale Gasoline (Puerto Rico)

Wholesale Gasoline Prices

Wholesale Gasoline Trend

Wholesale Gasoline v RB Gasoline Futures

Crude Oil Benchmarks

Oil Benchmarks

References

· One min read
Gabriel Smadi

Summary

US West Texas Intermediate (WTI) started trading today at an open of $78.98 per barrel with a low of $78.66 and high of $79.75.

Prices collected by DACO on Feb 20th show wholesale diesel prices at $3.49 per gallon on average. We see a reported low of $3.43 per gallon (Bitas's Fuel Corp.) and a high of $3.62 per gallon (Shell).

Wholesale gasoline prices on average remain stready around $3.11 per gallon, with a low of $3.05 per gallon (Bitas's Fuel Corp.) and a high of $3.22 per gallon (Shell).

We note that only two fuel suppliers posted data to DACO for todays fuel report.

Wholesale Diesel (Puerto Rico)

Wholesale Diesel Prices

Wholesale Diesel Trend

Wholesale Diesel v NY USDL Futures

Wholesale Gasoline (Puerto Rico)

Wholesale Gasoline Prices

Wholesale Gasoline Trend

Wholesale Gasoline v RB Gasoline Futures

Crude Oil Benchmarks

Oil Benchmarks

References

· 2 min read
Gabriel Smadi

What to expect

Given US crude oil and gas prices are on an upwards trend, we see local fuel prices rising moderately in tandem.

Highlights

  • US West Texas Intermediate (WTI) has been on an uptrend increasing by more than three dollars per barrel (+$3) compared to the previous week, closing last week at $79.19

  • According to AAA, US national average gas prices stood around $3.28 per gallon an increase of $0.12 from a week ago

    Higher oil prices and recent drawdowns in gasoline stockpiles have also put upward pressure on fuel costs for drivers across the US.
    US Gas Map Feb 2024

  • OPEC reports hightened expectations on economic growth in 2024 also increasing oil prices

    OPEC said a "positive trend" for economic growth was expected to extend into the first half of 2024 and raised its economic growth forecasts for 2024 and 2025 by 0.1 percentage points.

  • Interneational Energy Agency (IEA) reports global oil demand growth was losing momentum and trimmed its 2024 growth forecast, weighing on prices.

    The agency expects global oil demand growth to decelerate to 1.22 million barrels per day (bpd) in 2024, about half of the growth seen last year, in part due to a sharp slowdown in Chinese consumption. It had previously forecast 2024 demand growth of 1.24 million bpd.

  • Middle east tensions remain but its impact on oil and fuel prices has mostly been minimal

Crude Oil Benchmarks

Crude oil benchmark (CL=F) for WTI last traded at $79.19 barrel on Feb 16th, 2024.

Oil Benchmarks

References

· One min read
Gabriel Smadi

Summary

West Texas Intermediate (WTI) closed at $79.19 on last trading day of the week, marking a $1.17 increase per barrel. Compared to last weeks close, which was $76.84 per barrel, we see an increase per barrel of oil of $2.35. We should expect higher prices for coming week given oil benchmark trends.

As seen by prices collected by DACO on Feb 17th, wholesale diesel prices increased slighly to $3.49 per gallon on average. We see a reported low of $3.36 per gallon (American Petroleum) and a high of $3.62 per gallon (Total Petroleum).

Wholesale gasoline prices on average increased to $3.18 per gallon, growing by $0.11 when compared to the previous day with a low of $3.13 (Peerless Oil) and a high of $3.22 (Total Petroleum).

Similar to yesterday, we note that only three fuel suppliers posted data to DACO for todays fuel report.

Wholesale Diesel (Puerto Rico)

Wholesale Diesel Prices

Wholesale Diesel Trend

Wholesale Gasoline (Puerto Rico)

Wholesale Gasoline Prices

Wholesale Gasoline Trend

Crude Oil Benchmarks

Oil Benchmarks

References