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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL PRODUCTS
EIA forecast gasoline and diesel prices to generally decline as wholesale refining margins and crude oil prices fall according to the latest STEO report.
- The December 2022 US fuel retail prices were the lowest since the beginning of Russia/Ukraine war at 3.21$/gal for regular gasoline and 4.71$/gal for diesel.
- They forecast gasoline to remain close to current levels in 2023 at 3.30$/gal and 3.10$/bbl in 2024 but falling below 3$/gal by the end of that year.
- Diesel prices to remain higher than gasoline supported by disruption due to EU sanction on Russian products
- US refinery runs and gasoline and diesel production are expected to increase in 2023 and 2024 compared to 2022.
- Global refinery capacity is expected to increase and will contribute to the narrowing of US refining margins in 2023 and 2024.
Source: EIA
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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