- Monthly average crude oil prices remained on an upward path in July. The average domestic crude oil first purchase price rose $1.58 (2.3%) to $70.15 per barrel.
- The average free-on-board (f.o.b.) cost of imported crude oil rose $1.12 (1.7%) to $66.02 per barrel. The average landed cost of foreign crude oil increased 57 cents (0.8%) to $67.88 per barrel.
- The average refiner acquisition cost for domestic crude oil climbed $1.66 (2.3%) to $73.26 per barrel. The average cost of imported crude oil increased 94 cents (1.4%) to $69.79 per barrel. The composite refiner acquisition cost for crude oil rose $1.39 (2.0%) to $71.93 per barrel.
- In July, the refiner monthly average price for wholesale sales of motor gasoline rose 8.6 cents to $2.338 per gallon.
- Sales of finished motor gasoline by refiners increased in July. Total refiner motor gasoline sales rose 200,000 gallons per day (0.1%) to an average of 317.5 million gallons per day. DTW sales accounted for 7.0% of wholesales, while rack and bulk sales made up 90.1% and 2.9%, respectively.
No. 2 distillate
- Refiner prices for sales of No. 2 distillates increased again in July. The monthly average retail price for No. 2 diesel fuel climbed 5.3 cents to $2.281 per gallon, while the average wholesale price rose 3.6 cents to $2.183 per gallon. The average No. 2 fuel oil wholesale price rose 0.5 cent to $1.932 per gallon.
- Refiner retail sales of No. 2 ultra-low sulfur diesel fuel totaled 153.0 million gallons per day in July. Retail sales accounted for 7.7 million gallons per day, while wholesales sales fell 11.1 million gallons per day (7.1%) from June’s level to 145.3 million gallons per day.
Residual fuel oil
- Monthly average prices for refiner sales of residual fuel oil increased during July. The average retail price for residual fuel oil climbed 10.2 cents to $1.969 per gallon, while the average wholesale price increased 3.5 cents to $1.818 per gallon.
- Total refiner residual fuel oil sales declined in July, falling 2.1 million gallons per day to 5.9 million gallons per day (26.3%). Retail sales fell 400,000 gallons per day (18.2%), while wholesale sales declined 1.7 million gallons per day (29.3%).
- July monthly average prices for refiner sales of kerosene-type jet fuel, propane, and No. 1 distillate increased at both retail and wholesale. Aviation gasoline and kerosene prices also rose at the wholesale level.
- Refiner sales of these products show mixed trends in July. Sales of kerosene-type jet fuel continued to rise at both the retail and wholesale levels. Aviation gasoline and No. 1 distillate sales declined at retail but rose at wholesale. Propane sales increased at retail but remained flat at wholesale. Sales of kerosene declined at the wholesale level.