Unleaded Gasoline Futures
Unleaded gasoline futures are the key driver of gasoline prices.
Prices started and ended September near $2.37. Don’t look for much CPI help from gasoline in September.
AAA Gasoline Prices
On Oct. 6, the AAA reported gas demand spikes contributing to rising pump prices
Since Monday, the national average for a gallon of regular gasoline has risen seven cents to $3.86. National gas demand rose to 9.47 million barrels per day from 8.83 million barrels per day last week, and total domestic gasoline inventories fell sharply by 4.7 million barrels to 207.5 million barrels, according to new data from the Energy Information Administration . High gasoline demand with tight supply has led to higher pump prices across the country.
West Coast pump prices have risen due to ongoing refinery maintenance at about six refineries, severely constraining supply to the region. However, the restart of the refinery and California officials allowing the sale of less expensive winter blend gasoline a month ahead of schedule should offer drivers relief at the pump in the coming days. For the upper Midwest, pump prices have risen as a deadly Toledo, OH refinery fire has tightened supply in the region. According to some reports, the BP-Husky Toledo refinery, which has a capacity of 160,000 barrels per day, could be shut down by December due to an ongoing investigation into the fire.
As of last Thursday, these 10 states have seen the biggest increases in their averages: Alaska (+38 cents), Illinois (+25 cents), Ohio (+25 cents), California (+24 cents), Nevada (+22 cents), Oregon (+22 cents), Indiana (+21 cents), Washington (+19 cents), Arizona (+17 cents) and Michigan (+17 cents).
Natural Gas Futures
Scroll to Next
Seek negative Gasoline October CPI help and possibly natural gas as well.
If rental prices increase in October, which I think is likely, we will see another big rise in October CPI.
This post is from MishTalk.Com
Like these reports? I hope so and if so please subscribe to MishTalk email alerts.
Subscribers will receive an email notification of each post as it appears. Read the ones you like and you can unsubscribe at any time.
If you signed up and are not receiving email notifications, please check your spam folder.