Any crude or pump price impacts will likely be contained to the region and not have a national impact.
The nation’s top 10 largest weekly decreases: Delaware (-5 cents), Florida (-4 cents), Maryland (-3 cents), West Virginia (-3 cents), Utah (-3 cents), Colorado (-2 cents), South Carolina (-2 cents), Georgia (-2 cents), New Jersey (-2 cents) and North Carolina (-2 cents).
The nation’s top 10 least expensive markets: Mississippi ($1.84), Texas ($1.85), Arkansas ($1.87), Oklahoma ($1.88), Missouri ($1.88), Louisiana ($1.88), South Carolina ($1.90), Alabama ($1.90), Tennessee ($1.93) and Kentucky ($1.96).
Oil Market Dynamics
At the close of Friday’s formal trading session, WTI increased by 14 cents to settle at $41.11. Domestic crude prices increased last week after EIA’s weekly report revealed that total domestic crude inventories decreased by 4.4 million bbl to 496 million bbl. Decreasing stocks could signal that supply and demand are rebalancing, even while production grew by 900,000 b/d last week to 10.9 million b/d. For this week, crude prices could increase again if EIA’s next weekly report shows another decrease in total inventories.