xcel
04-18-2009, 02:58 PM
http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg 19 year high in Crude supply is failing to bring down prices? (cleanmpg.com/forums/showthread.php?p=201860)
http://www.cleanmpg.com/photos/data/501/2_04_per_gallon.jpgWayne Gerdes – CleanMPG (cleanmpg.com) – April 18, 2009
Nationwide average price for a gallon of Regular Unleaded.
Crude Oil
NYMEX Crude Oil futures for May delivery closed at $50.33 per BBl on Friday, up $0.35 for the day and down $1.91 for the week.
Interestingly enough, the EIA reported that U.S. crude oil storage facilities were “running over with the stuff” with a supply surplus not seen in almost 19 years.
If that wasn’t enough, the US government, OPEC and the International Energy Agency all revised their future demand forecasts downward, saying the world would consume less oil in 2009 than expected.
The balance appeared to come from rumors that China is investing in (read purchasing heavily) Crude Oil and Energy related commodities vs. dollar denominated Treasury Securities.
With OPEC cutting back output slightly and the Industrialized Nations demand slackening a bit, the general outlook for Crude oil throughout the summer months is one of stable pricing around the $52.00 per BBl mark, unlike last year when Crude more than doubled to an all-time high of $140.00 per BBl.
Gasoline
According to the EIA, the national average price for gallon of regular unleaded gasoline increased slightly to $2.05 per gallon mid-week.
Gulf Coast residents live in the only region where gasoline is still averaging less than $2.00 with an average price of $1.96 with Californian’s taking home the honor of paying the most for their boutique CA-CBG fuel blend costing on average, $2.34 per gallon.
Through the summer driving season, Regular Unleaded is projected to average $2.23 per gallon, an increase of almost $0.20 from the current average yet still down significantly from last summer’s $3.81 per gallon average.
Diesel
Diesel fuel remained essentially unchanged over the past week with the nationwide average price of diesel costing $2.23 per gallon.
Regionally, the least expensive average price for diesel was found in the Midwest at $2.18 per gallon while the highest average price found in CA at $2.35 per gallon.
Diesel fuel prices are projected to average $2.27 this summer, down over $2.10 from last summer which should provide a significant improvement to the bottom line and relief to those heavily dependant on the trucking industry.
http://www.cleanmpg.com/photos/data/501/2_04_per_gallon.jpgWayne Gerdes – CleanMPG (cleanmpg.com) – April 18, 2009
Nationwide average price for a gallon of Regular Unleaded.
Crude Oil
NYMEX Crude Oil futures for May delivery closed at $50.33 per BBl on Friday, up $0.35 for the day and down $1.91 for the week.
Interestingly enough, the EIA reported that U.S. crude oil storage facilities were “running over with the stuff” with a supply surplus not seen in almost 19 years.
If that wasn’t enough, the US government, OPEC and the International Energy Agency all revised their future demand forecasts downward, saying the world would consume less oil in 2009 than expected.
The balance appeared to come from rumors that China is investing in (read purchasing heavily) Crude Oil and Energy related commodities vs. dollar denominated Treasury Securities.
With OPEC cutting back output slightly and the Industrialized Nations demand slackening a bit, the general outlook for Crude oil throughout the summer months is one of stable pricing around the $52.00 per BBl mark, unlike last year when Crude more than doubled to an all-time high of $140.00 per BBl.
Gasoline
According to the EIA, the national average price for gallon of regular unleaded gasoline increased slightly to $2.05 per gallon mid-week.
Gulf Coast residents live in the only region where gasoline is still averaging less than $2.00 with an average price of $1.96 with Californian’s taking home the honor of paying the most for their boutique CA-CBG fuel blend costing on average, $2.34 per gallon.
Through the summer driving season, Regular Unleaded is projected to average $2.23 per gallon, an increase of almost $0.20 from the current average yet still down significantly from last summer’s $3.81 per gallon average.
Diesel
Diesel fuel remained essentially unchanged over the past week with the nationwide average price of diesel costing $2.23 per gallon.
Regionally, the least expensive average price for diesel was found in the Midwest at $2.18 per gallon while the highest average price found in CA at $2.35 per gallon.
Diesel fuel prices are projected to average $2.27 this summer, down over $2.10 from last summer which should provide a significant improvement to the bottom line and relief to those heavily dependant on the trucking industry.