Summary​

Crude oil benchmarks close the week with some small gains, where US WTI closed trading session yesterday at $80 per barrel, a dollar difference from the beginning of the week.

As seen by wholesale fuel prices collected by DACO on May 18th, wholesale diesel prices mark around $3.18 per gallon on average. We see a reported low of $3.06 per gallon (American Petroleum, 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 $3.25 per gallon (76 / Phillips) and a high of $3.43 per gallon (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​

No major activity on crude oil benchmarks. US WTI marks around $79 per barrel.

As seen by wholesale fuel prices collected by DACO on May 17th, wholesale diesel prices mark around $3.16 per gallon on average. We see a reported low of $3.02 per gallon (BVI Gas Inc.) and a high of $3.28 per gallon (Texaco, Total).

Wholesale gasoline prices on average marked around $3.30 per gallon, with a low of $3.22 per gallon (Bitas Fuel Corp.) and a high of $3.40 per gallon (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​

Crude oil benchmarks continue to trade steadily, where US WTI continues to trade in the $78 per barrel range.

As seen by wholesale fuel prices collected by DACO on May 16th, wholesale diesel prices mark around $3.14 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 $3.26 per gallon, with a low of $3.19 per gallon (BVI Gas Inc.) and a high of $3.36 per gallon (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​

Crude oil in the US, via future contract CL=F (WTI), sees some further price reductions as it closed the trading session yesterday at $78 per barrel and is currently trading at around $77-$78 per barrel.

As seen by wholesale fuel prices collected by DACO on May 15th, wholesale diesel prices mark around $3.14 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 $3.23 per gallon, with a low of $3.15 per gallon (BVI Gas Inc.) and a high of $3.32 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​

A barrel of crude oil in the US, remains at around $79.

As seen by wholesale fuel prices collected by DACO on May 14th, wholesale diesel prices mark around $3.15 per gallon on average. We see a reported low of $3.02 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

What to expect​

Crude oil and derived fuels has seen some positive relief on prices during the past week bringing it back to levels seen during March 2024. We still see some space for continued price reduction before stablizing.

Stay tuned this upcoming week to see how price activity unfolds. Below we can appreciate local wholesale fuel trends in Puerto Rico over the past year compared with some market derivative contracts during the same period.

Highlights​

• US Crude Oil Inventory Drop: US based EIA, reported a drop in crude oil inventories

  "U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.4 million barrels from the previous week. At 459.5 million barrels, U.S. crude oil inventories are about 3% below the five year average for this time of year."

• Middle East Cease Fire In Sight: Hightened hopes of a ceasefire by Israel and Hamas could bring additional relief to crude oil prices.

  "Headlines regarding a potential cease fire could further reduce crude prices by $3-4, but only if it signifies a genuine move to long lasting peace rather than a temporary pause in hostilities,” Rebecca Babin, US senior energy trader at CIBC Private Wealth

• OPEC+ Production Cuts Expectation: Expectation has OPEC+ extending prodcution cuts well beyond Q2 2024.

  “Incrementally bearish fundamentals increase the probability of a full extension of OPEC+ cuts beyond Q2” - Goldman Sachs

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 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