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re: Oil prices could climb; 2024 US production growth outlook halved by RBC Capital
Posted on 3/6/24 at 10:40 am to Pauvetibete
Posted on 3/6/24 at 10:40 am to Pauvetibete
Gas prices going up here in KC. Mid January I paid 2.52. Paid 3.29 this morning.
3
Posted on 3/6/24 at 10:50 am to KCkid
That’s likely due almost entirely to refinery utilization taking a massive shite in jan and feb.
We were in the mid 90s for refinery capacity much of last year but we are off to a rocky start in 2024. Dropped into the low 80s in feb.
We were in the mid 90s for refinery capacity much of last year but we are off to a rocky start in 2024. Dropped into the low 80s in feb.
Posted on 3/6/24 at 10:50 am to KCkid
quote:
Gas prices going up here in KC. Mid January I paid 2.52. Paid 3.29 this morning.
1- EIA reported total motor gasoline inventories decreased from last week.
LINK
2- SUPPOSEDLY (Not sure if true), Kansas City is a region where retailers have ignored daily fluctuations (at least the increases) in market prices for possibly weeks at a time in order to try to undercut each other, then one finally give in to get its margins back in line, and the others follow suit.
I don’t know if that’s completely true.
Also, I think I read somewhere that a Midwest refinery or two was severely restrained or even down, though I’d have to go back and try to look that up. Maybe I just imagined that.
This post was edited on 3/6/24 at 10:52 am
Posted on 3/6/24 at 11:02 am to KCkid
quote:3.19 in wichita
Gas prices going up here in KC. Mid January I paid 2.52. Paid 3.29 this morning.
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