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Gasoline Cracks Steady Amid Sign of US Demand Pick Up


US gasoline cracks are edging up slightly from the lowest since 2020 at 7.1$/bbl with recent GasBuddy data suggesting some demand support amid falling pump prices. Front month Rbob has risen from the lowest since December at 216c/gal on 12 Oct back up to 226c/gal but compared to nearly 300c/gal in early August.

  • Average US gasoline pump prices are below their week ago level for the fourth straight Monday according to GasBuddy as gasoline cracks remain weak and despite the strength in crude markets.
  • Retail gasoline prices fell 11.3 cents from a week ago and down 30 cents from a month ago to 3.55$/gal and are this week expected to fall to the lowest level in 6 months.
  • Every single day since 27 Sep US gasoline demand was above its four week respective average according to GasBuddy last week with Sun-Thu demand up 1.9% on the week.
    • RBOB NOV 23 up 0.1% at 2.27$/gal
    • EU Gasoline-Brent up 0.2$/bbl at 3.71$/bbl
    • US gasoline crack up 0.9$/bbl at 8.4$/bbl

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