Summary​

US WTI closes off the week at $76 per barrel, up from $73 per barrel last week, a $3 price increase.

As seen by wholesale fuel prices collected by DACO on August 10th, wholesale diesel prices mark around $3.05 per gallon on average. We see a reported low of $2.92 per gallon (BVI Gas Inc.) and a high of $3.17 per gallon (Mobil).

Wholesale gasoline prices on average marked around $3.12 per gallon, with a low of $3.03 per gallon (Bita's Fuel Corp.) and a high of $3.23 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 WTI trades today at $76 per barrel.

As seen by wholesale fuel prices collected by DACO on August 9th, wholesale diesel prices mark around $3.06 per gallon on average. We see a reported low of $2.94 per gallon (BVI Gas Inc.) and a high of $3.17 per gallon (Mobil).

Wholesale gasoline prices on average marked around $3.12 per gallon, with a low of $3.03 per gallon (Bita's Fuel Corp.) and a high of $3.23 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​

US WTI trades today at $75 per barrel.

As seen by wholesale fuel prices collected by DACO on August 8th, wholesale diesel prices mark around $3.04 per gallon on average. We see a reported low of $2.94 per gallon (BVI Gas Inc.) and a high of $3.17 per gallon (Mobil).

Wholesale gasoline prices on average marked around $3.09 per gallon, with a low of $3.00 per gallon (76 / Phillips) and a high of $3.19 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 benchmarks see a slight lift today, with US WTI trading at $74 per barrel.

As seen by wholesale fuel prices collected by DACO on August 7th, wholesale diesel prices mark around $3.00 per gallon on average. We see a reported low of $2.87 per gallon (BVI Gas Inc.) and a high of $3.13 per gallon (Mobil).

Wholesale gasoline prices on average marked around $3.07 per gallon, with a low of $2.98 per gallon (BVI Gas Inc.) and a high of $3.17 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 WTI trades at around $72 per barrel.

As seen by wholesale fuel prices collected by DACO on August 6th, wholesale diesel prices mark around $3.00 per gallon on average. We see a reported low of $2.88 per gallon (BVI Gas Inc.) and a high of $3.13 per gallon (Mobil).

Wholesale gasoline prices on average marked around $3.08 per gallon, with a low of $2.98 per gallon (BVI Gas Inc.) and a high of $3.17 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

What to expect​

Crude oil benchmarks have seen a marked downtrend over the past weeks. US WTI closed last week at $73 per barrel and currently trades at $72 per barrel, down from a high of $83 per barrel during early July. As a suprising outcome during peak summer season, market demand has been lower than expected.

Some events could impact crude oil supply and demand dynamics such as tensions in the middle east and interest rate acitvity for next month. We remain vigilant to market events but for now we expect generally a steady week ahead.

Highlights​

• Possible rate cuts in September: The Federal Reserve has decided to maintain current interest rates for July, acknowledging changes in the labor market. The Federal Reserve's next meeting is set for September 18, and Chair Jerome Powell indicated that officials will carefully assess upcoming economic data to determine whether to initiate a rate cut.

  "If we do get the data that we hope, then a reduction in our policy rate could be on the table at the September meeting." - Jerome H. Powell, the Fed chair

• Middle east on edge: Amid heightened tensions in the Middle East, oil prices initially spiked due to fears of a broader conflict following the assassination of Hamas leader Ismail Haniyeh in Iran and the killing of Hezbollah's top military commander in Beirut. Despite these events, the market later refocused on global demand and noted no significant disruptions to oil supplies. Analysts remain cautious about potential impacts on oil shipping lanes, particularly with recent attacks by Iran-aligned Houthi militants in the Red Sea. The situation underscores the geopolitical risks influencing oil markets.

  "Instead of de-escalation being the primary MO [modus operandi] of all the players analysts believe escalation is going to be the bigger factor now and de-escalation has got a kind of a lower odds of happening, at least in the near term." -Vikas Dwivedi, Macquarie global energy strategist

• Canadian crude oil imports: Canada's crude oil exports have become crucial to U.S. refineries, now constituting 60% of U.S. crude imports, up from 33% in 2013. Canadian crude production reached 4.6 million barrels per day in 2023, significantly surpassing its domestic refining capacity. The U.S. Midwest and Rockies regions benefit from proximity and pipeline connections to Canadian oil, with increased pipeline capacity aiding exports. However, the heavy nature of Western Canadian Select crude and limited access to global markets keep its prices below the U.S. benchmark West Texas Intermediate.

Crude Oil Benchmarks​

References​

• https://finance.yahoo.com/quote/CL%3DF
• https://finance.yahoo.com/quote/RB=F/
• https://www.eia.gov/todayinenergy/detail.php?id=62664
• https://finance.yahoo.com/video/fed-rate-decision-september-rate-215159203.html
• https://www.msn.com/en-us/money/markets/oil-slips-over-1-as-supply-intact-despite-middle-east-conflict-fears/ar-BB1r2LgQ
• https://finance.yahoo.com/video/crude-oil-prices-pop-assassination-145727507.html
• https://www.nytimes.com/2024/07/31/business/economy/fed-meeting-interest-rates.html

Summary​

Crude oil benchmarks continue a downtrend with US WTI closing off the trading week at $73 per barrel. Wholesale fuel and derivatives closely followed.

As seen by wholesale fuel prices collected by DACO on August 3rd, wholesale diesel prices mark around $3.01 per gallon on average. We see a reported low of $2.88 per gallon (BVI Gas Inc.) and a high of $3.14 per gallon (Mobil).

Wholesale gasoline prices on average marked around $3.08 per gallon, with a low of $2.97 per gallon (BVI Gas Inc.) and a high of $3.17 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 WTI marks slightly lower today at around $76 per barrel.

As seen by wholesale fuel prices collected by DACO on August 2nd, wholesale diesel prices mark around $3.07 per gallon on average. We see a reported low of $2.94 per gallon (Bita's Fuel Corp.) and a high of $3.21 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.14 per gallon, with a low of $3.03 per gallon (BVI Gas Inc.) and a high of $3.28 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 WTI sees an uptick marking $78 per barrel. Wholesale fuel prices have caught up with broader market also seeing a large uptick in price.

As seen by wholesale fuel prices collected by DACO on August 1st, wholesale diesel prices mark around $3.08 per gallon on average. We see a reported low of $2.97 per gallon (76 / Phillips) and a high of $3.21 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.18 per gallon, with a low of $3.08 per gallon (76 / Phillips) and a high of $3.28 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 trend slightly upwards, with US WTI trading at around $77 per barrel. Wholesale fuel lags with a marked drop, we expect an increase soon to sync back to broader market.

As seen by wholesale fuel prices collected by DACO on July 31st, wholesale diesel prices mark around $3.02 per gallon on average. We see a reported low of $2.91 per gallon (76 / Phillips) and a high of $3.13 per gallon (Texaco).

Wholesale gasoline prices on average marked around $3.11 per gallon, with a low of $3.02 per gallon (76 / Phillips, BVI Gas Inc.) and a high of $3.23 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