Mark SchieldropDec 5, 2022

Gas prices continue to fall, prices in the Northeast are still above the national average. But prices will continue to slide thanks to builds in gasoline and diesel over the past few weeks. Meanwhile demand is off by 400,000 bbl/day for gasoline compared to the last year, according to the EIA.

Although prices are below $3/gallon in more and more states, the Northeast supply issue is still a big hurdle for us in NY/NJ/New England.

Show threadMark SchieldropDec 5, 2022

Price snapshot this week:
RI: $3.60, down .10
MA: $3.66, down .10
CT: $3.52, down .13
NY: $3.70, down .08
NJ: $3.58, down .14

Last week gas inventories up 2.1m bbl, distillate (diesel, home heating oil) up 500,000 bbl.

Currently, gas inventories are 4 percent below seasonal 5-year average. Distillate is 11 percent below the 5-year avg.

Show threadTom Martinek
@nerp Gas is still about $4.89 in Northern California.
Dec 5, 2022 at 6:29pmWeb
Show threadMark SchieldropDec 5, 2022
@mrfusion Yes. CA is essentially its own gas market due to stiffer environmental requirements and some significant shifts in refining capacity/configuration out west in recent years. CA has always led the rest of the country when it comes to environmental standards. The downside of course is higher prices for gas in CA. The discrepancies in price in states like CA compared to Texas where the avg. is $2.78 today get lost when people only talk about the national average. Thanks for mentioning CA!