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Posted September 18, 2024West Coast jet fuel margins fell in August because of high inventories ›
Note: To calculate the crack spread, we subtract the Brent crude oil average spot price from the Los Angeles jet fuel wholesale spot price.
More jet fuel has been in U.S. West Coast inventories than over the previous five years for 29 out of 35 weeks so far in 2024, according to our Weekly Petroleum Status Report (WPSR). High inventories helped reduce Los Angeles regional crack spreads for jet fuel to an average of 5 cents per gallon (gal) in August, lower than any point in the last five years, including during the onset of the COVID-19 pandemic in 2020. Crack spreads represent the price difference between products and crude oil and can be used to determine the relative value of various petroleum products for refineries to produce.
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- 9/16/2024
- Retail gasoline price
- $3.180
- /gallon
-
$0.056 /gallon
from week earlier -
$0.698 /gallon
from year earlier
- 9/16/2024
- Retail diesel price
- $3.526
- /gallon
-
$0.029 /gallon
from week earlier -
$1.107 /gallon
from year earlier
- 9/13/2024
- Crude oil inventories
- 417.5
-
1.6 million barrels
from week earlier -
0.9 million barrels
from year earlier
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