38 comments on This Week in Petroleum 9-26-07
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38 comments on This Week in Petroleum 9-26-07
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Something seems to be in error with east coast PADD-I gasoline data this week, unless EIA has updated their data.
Stocks are up 2.1 mb
Imports to PADD I are up 96 kbpd
Production is down 182 kbpd
Net is down 86 kbpd
With stocks up 2.1 and a net weekly loss of 600 kb that tells me demand was down by 385 kbpd , however total US demand only changed by minus 12 kbpd . I can’t imagine shifting that much gas around between PADD areas, if so it should show up in other PADDs
Another interesting thing:
Last year at this time reformulated gas was 18 cents/gal higher than regular. This year regular conventional is 2 to 4 cents higher per gal.
Last year the per gallon futures on ethanol was a couple bucs higher than the current $1.55.
Wonder what ethanol bottom line is looking like this quarter.
Could be the added propane used to make the winter gasoline, like was explained last week?