Category: fuel pricing

Fuel Flash – May 2019

During the first half of April 2019, oil prices traded in a narrow range in the low $60’s per barrel, then started rising to a recent high just over $66 on April 23rd but fell below $64 by the end of the month.  Prices increased by almost 6% during April and are up by 37% since the start of the year.  The following graph shows the daily price movements over the past three months: The increase during the third week

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Fuel Flash – April 2019

During March 2019, oil prices traded near $56 per barrel for the first half of the month.  Near the middle of the month, prices quickly jumped over $58.  For the remainder of the month, prices traded in a narrow range near $59 and managed to close just over $60 by the end the month.  Overall, prices rose by 5% during March and have increased by approximately 33% during the first quarter of 2019.  The following graph shows the daily price

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Fuel Flash – March 2019

During February 2019, oil prices traded in a narrow range during the first 10 days, then began climbing for the remainder of the month.  Prices opened the month at just under $54 per barrel and closed at just over $57, a 6% increase.  The following graph shows the daily price movements over the past three months: The overall increase in prices during February was primarily caused by news that the US and China were making progress in negotiations to resolve

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Fuel Flash – February 2019

As 2019 got underway, fuel prices started to rebound after rapidly declining during the fourth quarter of 2018.  January prices opened the month at just over $45 per barrel and closed at just under $54, a 16% increase.  The following graph shows the daily price movements over the past three months: The rebound in prices was primarily caused by the announcement in December from OPEC and Russia that they would reduce production in early 2019 to help support prices.  Shortly

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Fuel Flash – January 2019

For the third consecutive month, crude oil prices continued their steady decline throughout December.   Prices closed the month at just over $45/barrel which is 14% lower than the start of the month.  Prices have fallen by an extraordinary 40% compared to their recent high of $76 at the beginning of October.  The following graph shows the daily price movements over the past three months: Reflecting further back, the graph below shows how prices moved over the past two years.  It

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Fuel Flash – December 2018

The collapse of crude oil prices continued throughout November as they fell 20% compared to the beginning of the month.  November’s closing price of just under $51/barrel is 33% lower than the recent peak of $76/barrel at the beginning of October.  The following graph shows the daily price movements over the past three months: The increase in prices leading to their peak in early October was primarily driven by concerns about tightening supplies due to the scheduled implementation of economic

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Fuel Flash – November 2018

Crude oil prices tumbled by almost 13% during October.  They peaked very early in the month at just over $76/barrel and proceeded to fall throughout the month to close at just over $65.  The following graph shows the daily price movements over the past three months: The rapid decline of oil prices in October followed a rapid increase during the second half of September.  During that prior period, prices were driven higher by concerns about tightening supplies resulting from economic

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Fuel Flash – October 2018

Crude oil prices traded in a narrow range near $70/barrel for most of September then started rising quickly toward the end of the month.  Prices closed the month at just over $73.  The following graph shows the daily price movements over the past three months: For most of September, prices were relatively steady in the absence of any significant political or economic developments.  During the last half of the month, concerns began to grow about tightening supplies due to economic

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Fuel Flash – September 2018

During August, crude oil prices started the month near $70/barrel but fell toward $65 by the middle of the month.  Prices began rising again during the last half of the month and closed near $70 again.  The following graph shows the daily price movements over the past three months: The price decline during the first half of August was mainly due to concerns that economic growth and future demand for oil could be curtailed by the ongoing trade war between

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Fuel Flash – August 2018

Crude oil prices opened July slightly over $74/barrel following a rapid increase after OPEC’s meeting near the end of June.  Prices held steady near $74 for the first 10 days of July but fell back and traded near $70/barrel for the remainder of the month.  The following graph shows the daily price movements over the past three months: The rapid price increase following the OPEC meeting in June was primarily attributable to concerns that their agreed upon production increase would

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