• Supply
  • Social Media
VisitTAC - The Arnold Companies
Customer LOGIN
TACenergy
Customer
LOGIN

Gasoline Prices Across The US Are Hovering Near 7 Month Lows This Morning

Thursday, Aug 25 2022
Market Talk

Gasoline prices across the US are hovering near 7 month lows this morning, while diesel prices are trading at 3 month highs. The extreme divergence between products this week appears to be a reflection that the driving season is winding down, while much of the world is wondering how they’ll heat their homes this winter.

Oil prices are seeing modest gains as OPEC’s president indicated the cartel is open to the Saudi suggestion of cutting output to put a floor under prices, although the gains remain tempered by the potential for new supply coming online, particularly from Iran. 

Yesterday’s DOE report added to the bearish gasoline, bullish diesel dichotomy with a huge drop in demand for gasoline, while distillate days of supply continue to sit at critically low levels. In 4 out of the past 7 weeks the DOE’s implied demand estimate for gasoline has fallen below 2020 levels, when the country was largely still on lockdown. Demand for diesel in the US is holding near average levels, and production is holding strong with refining margins still elevated, but strong exports are continuing to keep domestic stockpiles at low levels. 

US crude oil exports are also holding near record highs, which is also keeping domestic stockpiles at low levels despite the ongoing release of barrels from the SPR of roughly 1 million barrels every day. Even though the US has become the world’s favorite exporter of energy supplies this year, domestic refiners are still dependent on imports of oil to optimize their output, and have a new option from Mexico to help replace the barrels they used to buy from Russia. 

Click here to download a PDF of today's TACenergy Market Talk, including all charts from the Weekly DOE Report.

News & ViewsMarket Talk

News & Views
Latest Posts

Energy Futures Are Bouncing This Morning After Heating And Crude Oil Futures Carved Out Fresh Multi-Month Lows
KTBS 3 Spotlight on TACenergy Leadership COO Fred Sloan - Sharing Thoughts on Changes in the Gas Market
Go Rentals Opens 10 New Locations with Partner, TAC Air
Tac Air's new facility features B17-G model airplane, Military Situation Room

News & Views
Archive

Market Talk
Latest Posts

Market Talk
Archive

TACenergy logo
Sales:  800-375-FUELSupply & Logistics:  800-808-6500

Get in Touch

Sign up to receive market talk updates in your inbox each day.
Establish a credit account.
Apply For Credit
Need to make a fuel order today?

Follow us

TACenergy
  • Supply
  • News & Views
  • Market Talk Updates
  • Social Media
  • Contact a Representative
  • Customer Login
  • Apply For Credit
Find Your Next Great Role With TACenergy.
Explore Careers
  • Privacy Policy
  • Terms of Use
  • Employee Login
  • Sitemap
TACenergy, LLC © 2022. All Rights Reserved.