The US average retail price for regular gasoline on March 4, 2019, was $2.42 per gallon (gal), an increase of 11 cents/gal from the February average of $2.31/gal and 14 cents/gal lower than the price at the same time last year, according to a latest update from the EIA. Most of the fluctuation is the result of changes in crude oil prices.
Gasoline
Oil Jumps On Large Crude Inventory Draw
Gold Silver Reports (GSR) – Crude oil prices inched higher today after the EIA released its latest Weekly Petroleum Status Report, in which the authority said crude oil inventories had fallen by 8.6 million barrels in the week to February 22, though they are still above the seasonal five-year average.
Narendra Modi Urges Oil Suppliers to Review Payment Terms to Give Rupee Relief – Gold Silver Reports
Indian Prime Minister Narendra Modi urged global oil suppliers on Monday to review payment terms in order to give relief to the country which is struggling with a weakening currency.
Crude Oil Price Rally Hits Asia Where It Hurts
Rising oil prices are pushing up prices for fuels in Asia, and this is coming at a bad time; many Asian currencies are depreciating as economic growth falters.
WTI Algos Confused Despite Surprise Crude, Gasoline Builds – Gold Silver Reports
Gold Silver Reports (GSR) — WTI Algos Confused Despite Surprise Crude – Senior Energy Analyst Vince Piazza notes that a generous dollop of bad news is good news for the crude market. U.S. sanctions on Iran, Venezuela’s deteriorating economy and other potential geopolitical disruptions will limit supply.
Crudeoil Rallie Start after faceing Issues for U.K. Crudeoil, U.S. Gasoline Demand
Gold Silver Reports – Crudeoil rallied as much as 3% on Wednesday with Brent prices helped by news of stalled loadings for the United Kingdom’s North Sea oil while U.S. crudeoil futures rose after strong demand for gasoline offset worries about record high crude inventories.