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US Gasoline Demand at 8.633mn bpd: GasBuddy

OIL PRODUCTS

US retail gasoline demand saw a rise of 3.1% for the week ending March 17 (Sun-Sat) according to GasBuddy data.

  • GasBuddy models U.S. gasoline demand at 8.633 mn bpd.
  • “We’ve seen positive data that refinery output is starting to increase, a sign that the peak of maintenance season could be behind us.” According to Gasbuddy’s Patrick De Haan.
  • US gasoline cracks have been supported by the Spring refinery maintenance season as well as some unplanned outages against rising seasonal demand and some seasonal weakness in stock levels.
  • The national average price of gasoline has risen for the 3rd straight week to $3.44/gal today according to AAA data, supported the recent switch to more costly summer grade specification blends.
  • Russian refinery attacks and its gasoline export ban have been supportive for the overall energy complex, supporting cracks.
  • US gasoline crack up 0.95$/bbl at 33.71$/bbl

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