Highlights
Figure HL1. Crude oil and petroleum product wholesale prices
Crude oil
- November monthly average crude oil prices mostly retreated from the long-term high levels seen in October data. The average domestic crude oil first purchase price registered the largest decrease, falling $2.06 (2.6%) to $76.45 per barrel.
- The average free-on-board (f.o.b.) cost of imported crude oil declined $1.03 (1.4%) to $72.42 per barrel. The average landed cost of foreign crude oil decreased 89 cents (1.2%) to $74.81 per barrel.
- The average refiner acquisition cost for domestic crude oil fell $1.12 (1.4%) to $79.70 per barrel. The average cost of imported crude oil rose 7 cents (0.1%) to $76.15 per barrel. The composite refiner acquisition cost for crude oil declined 53 cents (0.7%) to $78.35 per barrel.
Petroleum products
Motor gasoline
- The monthly average wholesale price for refiner sales of motor gasoline remained essentially flat in November, retreating 0.8 cent to $2.486 per gallon.
- Refiner sales of finished motor gasoline rose in November. Total refiner motor gasoline sales reached an average of 304.1 million gallons per day, reflecting an increase of 3.4 million gallons per day (1.1%). DTW sales accounted for 6.7% of wholesales, while rack and bulk sales explained 89.4% and 3.9%, respectively.
No. 2 distillate
- Monthly average prices for refiner sales of No. 2 distillates also declined in November. The retail sales price for No. 2 diesel fuel fell 2.8 cents to $2.533 per gallon, while the average wholesale price declined 5.0 cents to $2.454 per gallon. The average retail price for sales of No. 2 fuel oil decreased 2.7 cents to $2.651, while the average wholesale price fell 8.9 cents to $2.267 per gallon.
- November sales of No. 2 ultra-low sulfur diesel fuel by refiners fell at the wholesale level, declining 3.4 million gallons per day (2.2%) to 148.6 million gallons per day.
Residual fuel oil
- Refiner prices for residual fuel oil show mixed trends in November. The average retail price for residual fuel oil rose 5.0 cents to $2.141 per gallon, while the average wholesale price declined 14.2 cents to $1.927 per gallon.
- Refiner residual fuel oil sales fell 200,000 gallons per day (2.5%) to 7.8 million gallons per day in November. Retail sales rose 200,000 gallons per day (10.0%), while wholesale sales decreased 400,000 gallons per day (6.7%).
Other products
- Refiner prices for sales of propane and No. 1 distillate decreased at both the retail and wholesale levels in November, while prices for kerosene-type jet fuel rose slightly in both sales categories. Aviation gasoline prices fell at retail, but increased at wholesale, while prices for kerosene show the opposite pattern.
- Refiner sales of the remaining surveyed products varied in November. Sales of propane and aviation gasoline fell at retail, while wholesale sales increased. Kerosene-type jet fuel sales rose at the retail level, but declined at wholesale. Sales of kerosene decreased in both sales categories, while No. 1 distillate sales increased at the retail and wholesale levels.