Summary​

Crude oil in the US, via CL=F futures contract for WTI, closed the week at around $78 per barrel, remaining steady throughout the week.

As seen by wholesale fuel prices collected by DACO on May 11th, wholesale diesel prices mark around $3.15 per gallon on average. We see a reported low of $3.00 per gallon (BVI Gas Inc.) and a high of $3.28 per gallon (Texaco, Total).

Wholesale gasoline prices on average marked around $3.27 per gallon, with a low of $3.19 per gallon (BVI Gas Inc.) and a high of $3.36 per gallon (Mobil, Texaco, Total).

Wholesale Diesel (Puerto Rico)​

Wholesale Gasoline (Puerto Rico)​

Crude Oil Benchmarks​

References​

• Datos de Combustible - DACO
• Crude Oil Futures via Yahoo Finance
• OPEC Reference Basket Price

Summary​

US West Texas Intermediate (WTI), rose again slightly from yesterday, but still continues to trade around $79 per barrel.

As seen by wholesale fuel prices collected by DACO on May 10th, wholesale diesel prices mark around $3.18 per gallon on average. We see a reported low of $3.04 per gallon (BVI Gas Inc.) and a high of $3.32 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.30 per gallon, with a low of $3.21 per gallon (BVI Gas Inc.) and a high of $3.40 per gallon (Texaco).

Wholesale Diesel (Puerto Rico)​

Wholesale Gasoline (Puerto Rico)​

Crude Oil Benchmarks​

References​

• Datos de Combustible - DACO
• Crude Oil Futures via Yahoo Finance
• OPEC Reference Basket Price

Summary​

US West Texas Intermediate (WTI), has seen a slight increase from yesterday, currently trading at $79 per barrel.

As seen by wholesale fuel prices collected by DACO on May 9th, wholesale diesel prices mark around $3.18 per gallon on average. We see a reported low of $3.04 per gallon (American Petroleum) and a high of $3.32 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.30 per gallon, with a low of $3.21 per gallon (BVI Gas Inc.) and a high of $3.40 per gallon (Texaco).

Wholesale Diesel (Puerto Rico)​

Wholesale Gasoline (Puerto Rico)​

Crude Oil Benchmarks​

References​

• Datos de Combustible - DACO
• Crude Oil Futures via Yahoo Finance
• OPEC Reference Basket Price

Summary​

US West Texas Intermediate (WTI), closed the trading session yesterday at $78.37 per barrel. Today, the crude oil benchamark started trading lower at around $77.66 per barrel.

As seen by wholesale fuel prices collected by DACO on May 8th, wholesale diesel prices mark around $3.18 per gallon on average. We see a reported low of $3.04 per gallon (American Petroleum) and a high of $3.32 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.30 per gallon, with a low of $3.23 per gallon (BVI Gas Inc.) and a high of $3.40 per gallon (Texaco).

Wholesale Diesel (Puerto Rico)​

Wholesale Gasoline (Puerto Rico)​

Crude Oil Benchmarks​

References​

• Datos de Combustible - DACO
• Crude Oil Futures via Yahoo Finance
• OPEC Reference Basket Price

Summary​

Crude oil in the US (WTI), trades around $78.20 per barrel.

As seen by wholesale fuel prices collected by DACO on May 7th, wholesale diesel prices mark around $3.18 per gallon on average. We see a reported low of $3.05 per gallon (American Petroleum) and a high of $3.32 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.34 per gallon, with a low of $3.27 per gallon (American Petroleum, BVI Gas Inc.) and a high of $3.43 per gallon (Total).

Wholesale Diesel (Puerto Rico)​

Wholesale Gasoline (Puerto Rico)​

Crude Oil Benchmarks​

References​

• Datos de Combustible - DACO
• Crude Oil Futures via Yahoo Finance
• OPEC Reference Basket Price

What to expect​

Last week saw a large drop in crude oil and local fuel prices, driven by a variety of factors, most strongly by events in the US and heightened expectations of ceasefire talks between Israel and Hamas.

Should market activity remain the same, we should continue to expect further price relief in both crude oil and local fuel markets.

Highlights​

• Fuel price relief starts kicking in: As reported in our previous week review, events that would see some noticible price activity has kicked in as witnessed by a shart drop in crude oil and local fuel prices (see wholesale trends for last week).
• Softening demand for gasoline: EV sales and gasoline inventory supply increases have some organizations expecting a softening in demand for gasoline in 2024

  U.S. gasoline consumption fell to about 376 million gallons per day (8.94 million bpd) in 2023 after hitting a record 392 million gallons in 2018, according to the U.S. Energy Information Administration.

• Geopolitical outlook: Expectations of a ceasefire in Gaza have increased amid a renewed push from Egypt to revive talks between Hamas and Israel.

  "Futures have been on the defensive on calming Geopolitical issues ... traders are realizing no real barrels are being pulled off the global stage (other than [from] Ukraine attacks on Russia) which so far have been temporary disruptions," - Dennis Kissler, senior vice president at BOK Financial

• Commodity gains on softening dollar

  Investors are closely monitoring the commodity sector, which is experiencing a broad-based rally as the U.S. dollar (DX-Y.NYB) exhibits signs of weakness. Commodities like copper (HG=F) and gold futures (GC=F) are among the notable gainers, capitalizing on the dollar's softening momentum.

Crude Oil Benchmarks​

References​

• https://finance.yahoo.com/quote/CL%3DF
• https://finance.yahoo.com/quote/RB=F/
• https://finance.yahoo.com/news/gasoline-demand-growth-slow-ev-014322636.html
• https://finance.yahoo.com/video/commodities-rally-slip-us-dollar-145255945.html

Summary​

Crude oil continued its descent on last trading day of the week, closing at around $78.11 per barrel.

As seen by wholesale fuel prices collected by DACO on May 4th, wholesale diesel prices mark around $3.18 per gallon on average. We see a reported low of $3.04 per gallon (BVI Gas Inc) and a high of $3.32 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.32 per gallon, with a low of $3.23 per gallon (BVI Gas Inc.) and a high of $3.40 per gallon (Texaco).

Wholesale Diesel (Puerto Rico)​

Wholesale Gasoline (Puerto Rico)​

Crude Oil Benchmarks​

References​

• Datos de Combustible - DACO
• Crude Oil Futures via Yahoo Finance
• OPEC Reference Basket Price

Summary​

Crude oil benchamrks have all dropped this week, with US WTI pricing a barrel of oil at around $79. Lowest point we have seen in more than a month. Local fuel prices have all seen marked discounts as well.

As seen by wholesale fuel prices collected by DACO on May 3rd, wholesale diesel prices mark around $3.19 per gallon on average. We see a reported low of $3.04 per gallon (BVI Gas Inc) and a high of $3.32 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.35 per gallon, with a low of $3.23 per gallon (BVI Gas Inc.) and a high of $3.43 per gallon (Texaco).

Wholesale Diesel (Puerto Rico)​

Wholesale Gasoline (Puerto Rico)​

Crude Oil Benchmarks​

References​

• Datos de Combustible - DACO
• Crude Oil Futures via Yahoo Finance
• OPEC Reference Basket Price

Summary​

Crude oil in the US finally sees some relief by dropping below $80 per barrel, currently trading today at around $79.32 per barrel.

As seen by wholesale fuel prices collected by DACO on May 2nd, wholesale diesel prices mark around $3.19 per gallon on average. We see a reported low of $3.04 per gallon (BVI Gas Inc) and a high of $3.32 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.34 per gallon, with a low of $3.23 per gallon (BVI Gas Inc.) and a high of $3.45 per gallon (Shell).

Wholesale Diesel (Puerto Rico)​

Wholesale Gasoline (Puerto Rico)​

Crude Oil Benchmarks​

References​

• Datos de Combustible - DACO
• Crude Oil Futures via Yahoo Finance
• OPEC Reference Basket Price

Summary​

US West Texas Intermediate (WTI), crude oil benchmark trading under ticker CL=F, closed trading yesterday at $81 per barrel, and today trades around $80 per barrel.

As seen by wholesale fuel prices collected by DACO on May 1st, wholesale diesel prices mark around $3.24 per gallon on average. We see a reported low of $3.10 per gallon (BVI Gas Inc) and a high of $3.36 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.40 per gallon, with a low of $3.31 per gallon (BVI Gas Inc.) and a high of $3.47 per gallon (Texaco, Mobil).

Wholesale Diesel (Puerto Rico)​

Wholesale Gasoline (Puerto Rico)​

Crude Oil Benchmarks​

References​

• Datos de Combustible - DACO
• Crude Oil Futures via Yahoo Finance
• OPEC Reference Basket Price