Weekly USWC: Gasoline Prices Up Over 2% on Tight Supplies


   
Maria Eugenia Garcia
DTN Energy Editor

   HOUSTON, TX (DTN) -- U.S. West Coast refined product spot prices showed 
mixed fortunes during the week ended August 28, with gasoline grades posting 
weekly increases amid limited supplies despite high refinery utilization. 
Meanwhile, ultra-low sulfur diesel (ULSD) and jet fuel values dropped from the 
prior week's levels.

   Gasoline was the standout performer of the week in the region. 
Week-over-week, San Francisco CARBOB regular led all products with the highest 
price increase, up 10cts, or 2.87%, to a weekly average of $3.6614 gallon, 
while Los Angeles CARBOB Regular rose 9cts, or 2.43%, to $3.5834 gallon.

   Portland sub-octane gasoline recorded the smallest increase on the week 
rising 3cts, or 0.99%, to $3.2794 gallon, the lowest percentage change across 
all nine U.S. West Coast products tracked by DTN.

   ULSD and jet fuel moved in the opposite direction. Portland ULSD recorded 
the steepest decline of the week, falling 22cts, or 4.93%, to a weekly average 
of $4.1838 gallon, the single largest weekly drop across all products.

   Los Angeles ULSD fell 16cts, or 3.48%, to $4.4678 gallon, and San Francisco 
ULSD eased 10 cts, 2.27%, to $4.3498 gallon.

    Jet fuel was uniformly weaker across all three hubs, with Los Angeles, San 
Francisco, and Portland each shedding 18cts ,4.33%, to average $3.8658 gallon, 
as weekly inventories climbed for the first time in seven consecutive weeks.

   On a year-over-year basis, all products were way above the values recorded 
on August 28, last year.  San Francisco ULSD rose 94.79% year-on-year, while 
Los Angeles ULSD climbed 92.08%. Jet fuel at all three hubs increased 
approximately 76.19% versus last year.

   Gasoline markets showed more conservative year-on-year increases, with Los 
Angeles CARBOB up 36.28%, San Francisco CARBOB up 35.33%, and Portland 
sub-octane up 54.56% from year-ago levels.

   The Energy Information Administration reported on Wednesday (8/26) that 
motor gasoline stocks in the PADD 5 region dropped by 100,000 bbl to 26.4 
million bbl during the week ended August 21. That was the lowest level since 
June 5 when it was 27.35 million bbl. Year-over-year, gasoline inventories 
dropped below the 30.2 million bbl reported during the same week last year.

   Regional distillate fuel stockpiles fell by 400,000 bbl to 10.6 million bbl 
from the prior week and were below levels from the same week of a year earlier. 
 Meanwhile, jet fuel stocks in PADD 5 rose by 500,000 bbl to 11.1 million bbl, 
following a 7-week consecutive decline, the EIA data showed.

   Refinery utilization rose to 93.7% from 92.2% the previous week, and no 
production issues were reported on the U.S. West Coast during the week.

    




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