By Brian L. Milne, Energy Editor, Schneider Electric The upside push in wholesale gasoline costs slowed in early March, with supplier offers at the terminal known as rack postings shallowly mixed at major metropolitan markets across the U.S. The mixed offers follow an increase by the U.S. retail gasoline price average to a $3.479 gallon…
Bear Aggression Triggers Bull Reaction in Oil Prices
Brian L. Milne, Energy Editor, Schneider Electric The weekend invasion of Ukraine by Russia has spiked global crude oil prices, hiking the geopolitical risk premium in crude values while the Obama administration has asked European countries to cut their oil and gas contracts with Russia, and to instead source crude from Africa, the Middle East…
Retail Gasoline Prices on Upward Trajectory
By Brian Milne, Energy Editor for Schneider Electric. U.S. retail gasoline prices are moving higher, with the ascent in position to continue into March even though gasoline demand so far in 2014 trails the year-ago period by 144,000 bpd or 1.7% per federal government data, with driving snarled several times in the heavily populated Midwest…
Lower Annual Trend for U.S. Gasoline Prices Reaffirmed
By Brian Milne, Energy Editor for Schneider Electric. The Energy Information Administration tweaked its latest forecast for retail gasoline prices in the U.S., adjusting lower its projection for the 2014 national average on expectations U.S. refiners would encounter reduced acquisition costs for crude oil this year. In its latest Short-term Energy Outlook, released Feb. 11,…
Futures Market Positions Retail Gasoline for Price Advance
By Brian Milne, Energy Editor for Schneider Electric The Energy Information Administration reported a modest 0.3cts dip in its national average for regular grade gasoline for the week-ended Feb. 3 to a $3.292 gallon seven-week low while four days later the gasoline futures contract rallied to a five-week high and US crude prices topped $100…
U.S. Gasoline Wholesale Costs Gain Final Week of January
By Brian Milne, Energy Editor for Schneider Electric Wholesale gasoline costs at major metropolitan markets across the U.S. advanced during the final week of January, boosted by greater-than-expected demand and an unexpected decline in inventory while exports increased. Higher costs for supply are set to push the Energy Information Administration’s U.S. retail gasoline price average…
U.S. Gasoline Supply Climbs to Nearly Three Year High
By Brian Milne, Energy Editor for Schneider Electric Wholesale gasoline costs entered the final week of January mixed from prior week even as the benchmark futures contract gained 4.0cts over the same time frame, although price pressure will continue to be exerted over retail gasoline prices amid seasonal weakness. The Energy Information Administration’s U.S. retail…
Worrisome Jobs Data and Seasonal Pressure for Gasoline
Brian L. Milne, Energy Editor, Schneider Electric Stabilizing in the mid-$2.60 gallon range during the first full week of 2014, the New York Mercantile Exchange RBOB (gasoline) futures contract lent upside support for wholesale gasoline costs in several large metropolitan markets across the U.S. coming into the second week of January. The boost in gasoline…
Alternative Fuels Gaining Traction
While sales are increasing, the overall market share remains dwarfed by gasoline. By Brian L. Milne, Energy Editor, Schneider Electric U.S. vehicle sales in November 2013 at 1.243 million were at a 10-year high for a November, according to Edmunds.com, the car people. And, WardsAuto.com, which tracks global auto sales and trends, in December said…
Gasoline Costs Drop with the New Year’s Eve Ball in N.Y.
By Brian L. Milne, Energy Editor, Schneider Electric In financial trading for gasoline, the New York Mercantile Exchange RBOB futures contract with nearest delivery erased in short order a late December advance that peaked at a $2.8463 gallon 3-1/2 month high the day following Christmas in early trading in 2014 on sentiment gasoline demand would…