Both WTI and Brent crude prices have been relatively stable over the past two weeks with WTI and Brent averaging $45 and $48 per barrel respectively.  Given OPEC's persistent commitment to current production levels, continued strong US domestic production and historically record level inventories, a dramatic change in crude pricing is not anticipated.

In light of same, significant changes in refined product pricing are also not expected in the foreseeable future. Typically gasoline prices fall at this time of year as summer demand subsides and cheaper winter grade gasoline is produced.  Indeed this year inventory levels of gasoline are running higher than normal as refineries have run at maximum capacity in order to take advantage of favorable production margins. To date, however, such savings have not been passed on to the marketplace.  The onset of colder weather and related increased demand will influence distillate prices though the lowered cost of crude this year should serve to mitigate marketplace price pressures.

1. Platts Inventory Update:

The US Energy Department ("DOE") weekly petroleum inventory assessment, issued September 23, 2015, reported a decrease in US crude stocks of 1,925,000 barrels.

US gasoline inventories increased by 1,369,000 barrels over the previous reporting period. Implied gasoline demand increased in this reporting period by 232,000 barrels/day.

US refinery utilization rates decreased by 2.2% to 90.9% of capacity.