Retail regular gasoline prices fell by 23.3c in the last four weeks to $3.136/Gal. About 57% of the change was due to the price of crude oil, while the remainder was the refinery margin
Scroll down for a chart of the RBOB-WTI crack spread, a measure of refinery margin. It shows elevated cracks this year
Total motor gasoline inventories rose by 5.4 MMBbl for the week ending December 1 and are about 1% above the five-year average for this time of year
Retail diesel prices fell by 37.1c in the last four weeks to $3.987/Gal. About 46% of the change was due to the price of crude oil, while the remainder was the refinery margin
Scroll down for a chart of the NY Harbor ULSD-WTI crack spread, a measure of refinery margin. It shows elevated cracks this year
Distillate fuel inventories rose by 1.3 MMBbl for the week ending December 1 and are about 13% below the five-year average for this time of year
Diesel exports to Europe surge as US ships avoid Panama Canal (Bloomberg)
Diesel exports from the US to Europe have reached an all-time high of around 437 MBbl/d this month, more than double in November, according to Kpler
Transit restrictions and high costs at the Panama Canal, with rates up to $4.6 million for the Chilean route, are diverting US Gulf Coast diesel exports from South America's west coast to Europe
Diesel exports from the US Gulf Coast to South America's west coast have dropped to less than a third of November's volume, with US refiners facing pressure to clear inventory
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