Good Afternoon Customers,
Here’s your Weekly Fuel Market Update to help you plan and navigate the week ahead with some intended clarity.
Right now, WTI Crude is at $65.79 per barrel; a decent drop from the mid-June spike caused by brief overseas tensions.
That situation de-escalated quickly, and now prices are working on rebalancing (they go up they go down…)
Eight OPEC+ countries agreed to ramp up production starting in August. More oil coming into the system generally leads to price relief.
We should be feeling better this week.
RETAIL FUEL TRENDS
San Diego County
Gas: ~$4.62/gal (↓ 1¢)
Diesel: ~$4.98/gal (↑ 8¢)
California (State Average)
Gas: ~$4.54/gal (↓ 5¢)
Diesel: ~$5.16/gal (↑ 5¢)
U.S. National Average
Gas: ~$3.13/gal (↓ 6¢)
Diesel: ~$3.74/gal (flat, ↑ 1¢)
Gas continues to slide gently across most regions, while diesel is climbing just a bit in some spots.
OUTLOOK FOR THE WEEK
As of today, things look relatively calm. If no major weather events or global disruptions come up this week, we could see prices hold steady or even soften a bit; especially on the gasoline side.
SOURCE MENTIONS
Here are a few of the sources I am referencing to create this summary:
EIA Weekly Petroleum Status Report
AAA Gas Prices Tracker
Reuters Energy News
LA TIMES
Automotive Fleet Fuel News
U.S. Department of Energy – Gasoline & Diesel Trends
If anything jumps out, I will let you know.
Thank you customers & have a great week.
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