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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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Free AccessUS Gasoline Prices See Fastest Rise in a Year
US gasoline pump prices rose 4 cents to $3.63 per gallon July 24, the largest rise since June 2022, according to auto club AAA.
- Pump prices are now just 5 cents shy of the current 2023 peak last reached in April.
- Meanwhile, US gasoline stockpiles are at their lowest level since 2015.
- Higher pump prices could hamper the fight against inflation as gasoline prices are a component of the consumer price index.
- High gasoline prices had encouraged the Biden Administration into its record 180mn bbl SPR stock release last year as it attempted to quell prices at the pump – a tool it is unlikely to be able to use again.
- GasBuddy models current US gasoline consumption at around 9mn bpd while today’s EIA report will give an indication of US gasoline demand as well as stockpile levels.
To read the full story
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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.