More diesel is also being pulled into the marine sector due to shipping rules that took effect in 2020 which required vessels to use low sulfur marine fuel, he added. refineries are shifting fuel yields away from making gasoline and prioritizing jet fuel and ultra low sulfur diesel, Simmons said. In May, distillate inventories fell below 105 million, the lowest level since 2005.ĭue to a recent recovery in jet fuel demand, U.S. distillate inventories are at 111.7 million barrels, well below the 10-year seasonal average. refiners will also be able to sell fuel to South America at competitive prices even if demand falls in the United States due to a recession, according to Simmons. this will require refineries to continue running at high levels of utilization," Nimbley said. "Inevitably inventories will need to be replenished from these extraordinary low levels. Refiners say that even if the United States is to experience a recession, refiners will still need to churn out fuel to restock inventories depleted during the first half of 2022. inflation, have come down 15% in the past month, according to data from the American Automobile Association. coconut oil, or tea tree oil When the swab turns black, change it for a new. "We’re at the same levels we’ve been for the past 90 days," said PBF Chief Executive Tom Nimbley.Īverage gasoline prices, a major contributing factor to U.S. the area Allow silver to soak in the solution for 3 to 5 minutes Apr 18. When the road seems dim, have Jiffy Lube polish your lenses to. Jiffy Lube® works harder to keep it clean for max output. From filters to fluids, give your transmission the care it deserves. PBF Energy Inc (PBF.N) executives also said on a Thursday earnings call that wholesale demand has remained strong. This isnt just an oil change its preventive maintenance to help keep your vehicle running right. "Our seven-day averages now are back to kind of that June level, with gasoline at pre-pandemic levels and diesel continuing to trend above pre-pandemic levels," Simmons said. He added that the company sold 911,000 barrels a day in the month of June, surpassing a previous record in August 2018. in June, we actually set sales records," Gary Simmons, Valero Energy Corp (VLO.N) executive vice president, told analysts on the company's second-quarter earnings call on Thursday. "Through our wholesale channel, there's really no indication of any demand destruction.
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