Month: March 2018

The Energy Information Administration’s latest weekly report shows that the U.S. sent nearly 1.1 million b/d of gasoline to other countries last week – the fourth largest export rate on record and the highest so far this year. The previous record was set during the…Read more »

With the arrival for spring, gas prices immediately became more expensive nationwide. The national gas price average is $2.61, which is a nickel more expensive on the week. Six states are seeing double-digit increases: Idaho (+16 cents), Utah (+14 cents), Delaware (+13 cents), New Mexico…Read more »

According to the Energy Information Administration’s latest weekly petroleum status report, crude oil inventories dropped 2.6 million barrels from the previous week. Storage levels across the country now total 428.3 million barrels. When compared to last March at this time, current domestic crude inventories are…Read more »

Consumer gasoline demand is at the highest level on record for March. According to the Energy Information Administration’s (EIA) latest report, demand measured at 9.6 million b/d – levels typical of summer months, not the first quarter of a year. U.S. exports continue to trend…Read more »

The International Energy Agency’s (IEA) latest 2018 global crude demand forecast shows that demand is expected to increase by 1.5 million b/d this year, landing at a total of 99.3 million barrels per day. Last year’s total demand sat at 97.8 million b/d. Global oil…Read more »

At $2.53, the national gas price average has held steady for nine days. Factors contributing to the flat price include increased gasoline production that has kept pace with higher than usual demand this winter. The latest Energy Information Administration (EIA) report shows that demand increased…Read more »