EIA Gasoline and Diesel Retail Prices Update

The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended April 10th, 2017. Prices for both fuels rose significantly during the week.

For the current week ended April 10th, diesel prices rose by 2.6 cents to an average price of $2.582/gallon.

PADD 1 retail diesel prices increased 1.5 cents to $2.620/gallon. New England prices rose 0.9 cents to $2.69/gallon. Central Atlantic diesel prices rose by 2.2 cents to average $2.761/gallon. Lower Atlantic prices increased by 1.1 cents to average $2.516/gallon. In total, PADD 1 prices were 43.3 cents/gallon above their prices for the same week last year. PBF Energy will be shutting a 46 kbpd diesel hydrotreater at its 160 kbpd Paulsboro, New Jersey, refinery, for a three- to four-week maintenance period. Phillips 66’s 238 kbpd Bayway, New Jersey, refinery, remains running at very low throughput. It was scheduled to restart in mid-March, including its crude unit, its 145 kbpd cat cracker, its cat reformer, and its diesel hydrotreater. But delays pushed back the restart until the 31st, and since then, poor economics have kept throughput low.

In the Midwest PADD 2 market, retail diesel prices increased 3.4 cents to average $2.515/gallon. This price was 43.3 cents/gallon above its level for the same week last year. Tesoro closed its 75 kbpd Mandan, North Dakota, refinery for a full-plant overhaul, earlier than the originally scheduled April 4th date. The overhaul includes a diesel hydrotreater. BP restored normal operations at a 110 kbpd crude unit (one of three crude towers) at its 413.5 kbpd Whiting, Indiana, refinery.

In the Gulf Coast PADD 3, retail diesel prices rose 3.2 cents to $2.446/gallon. This price was 45.4cts higher than in the previous year. ExxonMobil shut down the 65 kbpd hydrocracker at its 345 kbpd Beaumont, Texas refinery to remedy a mechanical failure. This refinery has a crude unit and a 48 kbpd coker in maintenance currently. ExxonMobil restarted the 29.5 kbpd hydrocracker at its Baytown, Texas, refinery, which was closed to repair a leak. Marathon resumed planned rates at the 238 kbpd crude unit at its 522 kbpd Garyville, Louisiana, which was down for unplanned repairs. Valero is restoring normal rates at the 50 kbpd hydrocracker at its 350 kbpd Port Arthur, Texas, refinery. The unit was closed March 30th because of a mechanical failure.

In the Rocky Mountains PADD 4 market, retail diesel prices increased 1.7 cents to $2.64/gallon. This price was 53.0 cents higher than in the prior year. Suncor’s 103 kbpd refinery at Commerce City, Colorado, had been down because of a full-plant power failure.

In the West Coast PADD 5 market, diesel pump prices increased by 2.3 cents to average $2.862/gallon. This price was 53 cents above its level last year. Prices excluding California rose 3.7 cents to $2.772/gallon, which was 57.2 cents above the retail price for the same week last year. California diesel prices increased by 1.2 cents to an average price of $2.935/gallon, 49.8 cents higher than last year’s price. Prices were influenced by downtime at one of the hydrocrackers (20 kbpd capacity) at the 77 kbpd Phillips 66 Rodeo refinery near San Francisco. Phillips 66’s 100-kbpd refinery at Ferndale, Washington was down for an overhaul. PBF Energy reduced throughput at the 88 kbpd VGO hydrotreater at its 149 kbpd Torrance, California, refinery, for more unplanned repairs. This unit is scheduled for a seven-week overhaul in late April/Early May. The hydrocracker is scheduled for a five-week overhaul. Shell is preparing for maintenance at the hydrocracker at its 165 kbpd Martinez, California, refinery, to commence at the end of April or early May.

US retail gasoline prices jumped by 6.4 cents for the week ended April 10th, to $2.424/gallon. This price was 35.5 cents higher than for the same week in 2016. Gasoline prices are at their highest levels since the week ended September 7th, 2015.

In the East Coast PADD 1, prices for gasoline surged by 7.1 cents to $2.303/gallon. This price was 34.1 cents higher than last year’s price. Prices increased by 3.6 cents in New England to $2.326/gallon. Central Atlantic market prices rose by 6.7 cents to $2.467/gallon. Prices in the Lower Atlantic market shot up by 8.3 cents, to bring prices to an average of $2.318/gallon, 33.8 cents higher than last year’s average price. Philadelphia Energy Solutions restarted the 6 kbpd alkylation unit at its Point Breeze, Philadelphia, refinery, which had been closed March 29th for unplanned repairs.

In the Midwest PADD 2 market, gasoline prices were hiked by 8.2 cents to average $2.361/gallon. Gasoline pump prices were 39.6 cents higher than they were one year ago. Tesoro was forced to on Friday to close its 75 kbpd Mandan, North Dakota, refinery for a full-plant overhaul after a power outage and steam plant failure. The refinery includes a cat cracker and a cat reformer. The overhaul was originally scheduled for April 4th. Phillips 66 is in the process of restarting its314 kbpd Wood River, Illinois, refinery.

In the Gulf Coast PADD 3 market, gasoline prices rose 6.8 cents to average $2.192/gallon. Prices for the week were 35.7 cents higher than for the same week in 2016. LyondellBasell’s Houston refinery continues to work on repairs to the cooling unit at its 110 kbpd cat cracker, which was seriously damaged by a fire. This unit is likely to be out of commission until the middle of April. Total resumed operation of the 80 kbpd cat cracker at its 240 kbpd refinery in Port Arthur, Texas. Marathon is restarting the 58 kbpd cat cracker at its 86 kbpd Texas City, Texas, refinery.

In the Rocky Mountains PADD 4 region, gasoline prices increased 3.6 cents to average $2.333/gallon. This price was 33.2 cents higher than at the same time in 2016.

In the West Coast PADD 5 market, retail gasoline prices increased 2.0 cents to an average price of $2.873/gallon. This was 31 cents higher than at the same time a year ago. Excluding California, prices rose by 2.5 cents to an average of $2.639/gallon. This was 39.8 cents higher than at the same time in 2016. In California, prices increased 1.6 cents to an average pump price of $3.008/gallon, making California the first state market to have gasoline prices top $3 once again. Prices were 25.8 cents higher than last year’s price for the same week. Los Angeles prices rose by 1.9 cents to average $3.032/gallon. San Francisco pump prices declined by 0.3 cents to average $3.050/gallon, 27 cents above last year’s price. Seattle prices rose 3.0 cents to average $2.878/gallon, 59.3.0cts higher than prices one year ago. Tesoro shut the 26 kbpd cat reformer and the 39 kbpd naphtha hydrotreater at its 120 kbpd Anacortes, Washington, refinery, for unplanned repairs. Phillips 66’s 100-kbpd refinery at Ferndale, Washington was down for an overhaul and is in the process of restarting. Chevron’s 269 kbpd El Segundo, California, refinery came back onstream. PBF Energy’s 149 kbpd Torrance refinery ran at reduced throughput again after trouble at its VGO hydrotreater, which resulted in heavy flaring. The unit is scheduled for a seven-week turnaround in late April-early May, during which time the FCC will be run at reduced rates, constraining gasoline output.

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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