Fuel Market Report

Our fuel market report provides you with up to date information about our most recent market.

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Fuel Market Report: July 7th – July 13th, 2024 1024 683 Star Oilco

Fuel Market Report: July 7th – July 13th, 2024

Fuel Market News

The market experienced a mix of price fluctuation this week, as rack averages dropped but retail didn’t budge much. E10 dropped $0.05, B5 dropped $0.10 and B20 dropped $0.02. All the while retail averages fell $0.03. Fuel prices have trended downwards for the past few weeks and are still relatively low compared to prices seen earlier in the year. Demand for B20 has continued to rise with the Portland RFS. All B5 blends within the city of Portland are only dyed blends for off-road usage. Overall the summer has been pretty calm for price jumps thus far.

 

The City of Portland began its fuel blending requirements for all diesel blends to increase to the minimum of a B15 blend. This will lead to most stations using B20 biodiesel or R99 Renewable diesel if allocations allow for it.

 

To learn more about these changes that will affect your company’s vehicles, equipment, and annual fuel purchasing schedule an appointment with one of our fuel market analysts.

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Important Note: Per the City Of Portland, “Distributors in the City of Portland are required to meet the minimum biofuel content requirements for all fuel they distribute beginning on May 15, 2024. All diesel fuel distributed to retail stations, non-retail dealers, or wholesale purchaser-consumers must include a minimum of 15% biofuel content, from either renewable diesel or biodiesel. This requirement increases to 50% on May 15, 2026, and 99% on May 15, 2030”.

 

Reasons For Price Variance:

Crude oil is trading above $80 for the fourth time in eight weeks, at a current price of $81.00/barrel, $1.07 lower than last week, as oil prices trended downward, for the second time in 4 weeks.

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $81.00 per barrel compared to $82.07/barrel, last week and $85 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

Sign Up

refuel-equipment-star-oilco-portland-or
Fuel Market Report: June 30th – July 6th, 2024 1024 683 Star Oilco

Fuel Market Report: June 30th – July 6th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

Diesel prices jumped last week, while gas prices fell. Rack averages for B5 and B20 jumped $0.10/gal while E10 fell $0.04/gal. With the uptick in travel and outdoor activity over the holiday weekend, demand for non-ethanol prem gasoline skyrocketed, while Portland’s fuel supply dwindled to nothing for the high-demand fuel. Despite the allocation issue, prices for E10 fell which is very surprising. Fuel prices are still relatively low for the summer but we can expect prices to climb in the coming weeks.

 

Curious to learn more about R80/B20 blends?

Book an appointment with one of our low-carbon fuel analysts.

 

City of Portland began their fuel blending requirements for all diesel blends to increase to the minimum of a B15 blend. This will lead to most stations using B20 biodiesel or R99 Renewable diesel if allocations allow for it.

To learn more about these changes that will affect your company’s vehicles, equipment, and annual fuel purchasing schedule an appointment with one of our fuel market analysts.

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Important Note: Per the City Of Portland, “Distributors in the City of Portland are required to meet the minimum biofuel content requirements for all fuel they distribute beginning on May 15, 2024. All diesel fuel distributed to retail stations, non-retail dealers, or wholesale purchaser-consumers must include a minimum of 15% biofuel content, from either renewable diesel or biodiesel. This requirement increases to 50% on May 15, 2026, and 99% on May 15, 2030”.

 

Reasons For Price Variance:

Crude oil is trading above $80 for the fourth time in eight weeks, at a current price of $82.07/barrel, $1.48 lower than last week, as oil prices trended downward, for the first time in 4 weeks.

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $82.07 per barrel compared to $83.55/barrel, last week and $85 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

Sign Up

fuel-market-report-star-oilco-portland-or
June 2024 Fuel Market Recap 1024 697 Star Oilco

June 2024 Fuel Market Recap

June 2024 Fuel Market Recap for Portland, Oregon

The diesel fuel market in the Pacific Northwest in June was characterized by tight supply and high prices. Between a limit in refining capacity, dependence on imports as well as seeing prices rise, it resulted in a month of challenges for Portland, OR and the Pacific Northwest fuel market.  

Refining Capacity

Refineries throughout the region had maintenance and/or experienced operational issues recently, which reduced the overall diesel production. This includes BP’s Cherry Point refinery which appears to be going through a 50-day turnaround and Tesoro’s Anacortes refinery which is having “intermittent flaring.”
 

Dependence on Imports

Due to the limited refining stated above, the region also relied more on imports in recent weeks, which included ultra-low sulfur diesel (ULSD) being shipped in from Canada, which is very rare. Typically, the Pacific Northwest is exporting diesel.
 

High Prices

Limited supply combined with strong regional demand pushed diesel prices to be the most expensive in the country. 

The transportation sector likely experienced several impacts related to an increase in transportation costs. Trucking companies, bus operators and other businesses that are related to diesel fuel happen to face much higher operating costs. This ultimately leads to added surcharges where companies may be implementing fuel surcharges to pass on some of that additional cost increase to their customers. Ultimately, it can result in reduced profit margins for businesses that are unable to pass on the full cost increase. 

In other cases, you’ll see companies start to shift more into alternative fuels. Businesses with the flexibility to be able to use alternative fuels like biodiesel might have increased their usage to mitigate some of the cost increases. It will be interesting to see how the fuel prices as well as the Portland Renewable Fuel Standard (RFS) will affect companies’ choices in fuel. Alternative fuels like biodiesel and renewable diesel have grown tremendously in the Portland and Pacific Northwest and will continue. 

Qualify Your Business With Wholesale Fueling Today.

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Industry Insiders Are Talking About A Biofuel Mismatch

Industry insiders are talking about a potential mismatch in biofuel stocks in the Pacific Northwest. Apparently, there’s a surplus of R99, while B99 seems to be harder to come by. The reasons behind this could be anything from swings in the availability of raw materials for each fuel type to shifts in local demand. One thing’s for sure, though: R99 and B99 aren’t exactly created equal, even though they’re both biofuels. R99 seems to be the more reliable and flexible option, but B99 might still hold some appeal in certain situations due to its price tag or specific environmental benefits. This situation could be a chance to fine-tune the biofuel infrastructure in the Pacific Northwest, either by pushing for more R99 use or figuring out ways to get more B99 on the market.

Industry insiders are also keeping a close eye on the recent decline in Renewable Identification Numbers (RINs) and CO2 credits. These tradable certificates serve as a currency for the carbon footprint of fuels. The drop could signal a slowdown in the production or use of cleaner fuels in the region, or conversely, a surge in demand for them. This development could put a strain on refiners trying to meet clean fuel regulations, potentially leading to higher compliance costs. Understanding the root cause of this decline is critical. Is it a regional issue with biofuel production? Or perhaps a broader market trend reflecting increased demand for cleaner fuels? Addressing this situation head-on will be essential for the PNW to maintain its momentum towards its clean energy goals. 

Recent Article From gasprices.aaa.com

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Here is an article from gasprices.aaa.com about the prices of fuel and what they’re doing right before Independence Day. It discusses the national average gas price increasing by five cents to $3.50. The increase has a high probability that it’s due to the cost of oil rising above $80 per barrel. This time of year, we expect a large number of travelers on the roads to celebrate the July 4th holiday week and weekend. Because who wouldn’t want an excuse for extra time off? This will likely increase the demand for fuel. According to gasprices.aaa.com, the most expensive gas in the country is currently in California, which is at $4.80 per gallon. The least expensive, according to gasprices.aaa.com is currently in Mississippi at $2.91 per gallon. What a difference! 

Last year on July 3rd marks a record high price for diesel in the Portland, Oregon area. Today and this week’s current average for diesel in the Portland area is $4.23 per gallon. Reach out to our team about qualifying your business for wholesale fuel pricing.

Contact Us Today
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Here is a comparison of Diesel prices in Oregon compared to the national average as of July 3rd, 2024. 

Future Forcasting

While it’s hard to determine a future forecast for fuel prices in the coming weeks, what we can see is that fuel prices are down compared to this time last year. This is great! We do however see a price increase in fuel around this time of year due to the significant higher number of travelers on the roads during summer holidays. Some factors that could result in future fuel price fluctuations would be if the global oil market remained stable or not. The war in Ukraine has also had a great impact on crude oil prices. The war has caused uncertainty in the energy market in the past. The sanctions that the US have on Iran have also had a significant impact on crude oil prices. It has been more difficult for Iran to sell its oil, which has driven up prices in other parts of the world. If the global oil market remians stable and no major refinery disruptions occur, then diesel prices throughout Oregon could potentially stay the same or even decrease slightly over the coming weeks. 

 

Thank you for choosing Star Oilco as your preferred fuel provider in the Portland, Oregon and Vancouver, Washington area. We provide fuel market news to raise value and understanding for our customers. Star Oilco loves supporting businesses in the Pacific Northwest and keeping their tanks full. We keep fuel simple. 

JOIN THE FUEL MARKET REPORT NEWSLETTER FOR YOUR WEEKLY FILL OF UPDATES!

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refuel-equipment-star-oilco-portland-or
Fuel Market Report: June 23rd – June 29th, 2024 1024 683 Star Oilco

Fuel Market Report: June 23rd – June 29th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

Fuel prices fell this week, as gas and diesel dropped in price on both the wholesale and retail markets. Rack averages for diesel dropped $0.03 for B5 and $0.05 for B20, while E10 gas fell $0.07. With crude oil still above $80/barrel, it is surprising to see fuel prices hovering downward. We can expect prices to begin to climb after the 4th of July weekend with increasing travel trends and demand for fuel. It would be wise to fill up your tanks, cars, boats, or equipment before the holiday weekend pricing spike.

Schedule a tank top off before the holiday weekend.

 

Curious to learn more about R80/B20 blends?

Book an appointment with one of our low-carbon fuel analysts.

 

City of Portland began their fuel blending requirements for all diesel blends to increase to the minimum of a B15 blend. This will lead to most stations using B20 biodiesel or R99 Renewable diesel if allocations allow for it.

To learn more about these changes that will affect your company’s vehicles, equipment, and annual fuel purchasing schedule an appointment with one of our fuel market analysts.

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Important Note: Per the City Of Portland, “Distributors in the City of Portland are required to meet the minimum biofuel content requirements for all fuel they distribute beginning on May 15, 2024. All diesel fuel distributed to retail stations, non-retail dealers, or wholesale purchaser-consumers must include a minimum of 15% biofuel content, from either renewable diesel or biodiesel. This requirement increases to 50% on May 15, 2026, and 99% on May 15, 2030”.

 

Reasons For Price Variance:

Crude oil is trading above $80 for the third time in eight weeks, at a current price of $83.55/barrel, $2.24 higher than last week, as oil prices trended upward, for the fourth week in a row.

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $83.55 per barrel compared to $81.31/barrel, last week and $86 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

Sign Up

refuel-equipment-star-oilco-portland-or
Fuel Market Report: June 16th – June 22nd, 2024 1024 683 Star Oilco

Fuel Market Report: June 16th – June 22nd, 2024
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Oregon Fuel Price Variance

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Fuel Market News

Fuel prices jumped this week with the wholesale market seeing the biggest jumps as the retail market budged up slightly. The rack average for gasoline in Portland jumped $0.13, while B5 and B20 bumped up $0.10. The retail market saw less price fluctuation as the AAA average in Portland dropped $0.04 for gasoline. Four counties in Oregon had an average gas price below $4 (Baker, Deschutes, Gilliam & Polk) . Oregon is still one of the states with the highest fuel prices in the nation.

Curious to learn more about R80/B20 blends? Book an appointment with one of our low-carbon fuel analysts.

City of Portland began their fuel blending requirements for all diesel blends to increase to the minimum of a B15 blend. This will lead to most stations using B20 biodiesel or R99 Renewable diesel if allocations allow for it.

To learn more about these changes that will affect your company’s vehicles, equipment, and annual fuel purchasing schedule an appointment with one of our fuel market analysts.

fuel-market-report-star-oilco-5-18-24

Important Note: Per the City Of Portland, “Distributors in the City of Portland are required to meet the minimum biofuel content requirements for all fuel they distribute beginning on May 15, 2024. All diesel fuel distributed to retail stations, non-retail dealers, or wholesale purchaser-consumers must include a minimum of 15% biofuel content, from either renewable diesel or biodiesel. This requirement increases to 50% on May 15, 2026, and 99% on May 15, 2030”.

 

Reasons For Price Variance:

Crude oil is trading above $80 for the second time in eight weeks, at a current price of $81.31/barrel, $1.11 higher than last week, as oil prices trended upward, for the third week in a row.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $81.31 per barrel compared to $80.20/barrel, last week and $85 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

Sign Up

refuel-equipment-star-oilco-portland-or
Fuel Market Report: June 9th – June 15th, 2024 1024 683 Star Oilco

Fuel Market Report: June 9th – June 15th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

Rack averages went up this week, while the retail price at the pump went down. The rack average price jumped $0.08/gal for both B5 & B20 and $0.07/gal for E10 gasoline. Retail prices dropped $0.05/gal for gasoline and $0.04/gal for diesel. As noted in last week’s report, demand for B5 will be diluted by the increased demand for B15 blends of diesel in the City of Portland. This is referenced by Mark Fitz in a recent collaboration with Stillwater Associates. We can expect fuel prices to climb slightly in the coming weeks as we enter the end of June in the full swing of the Summer Season into July.

Curious to learn more about R80/B20 blends? Book an appointment with one of our low-carbon fuel analysts.

City of Portland began their fuel blending requirements for all diesel blends to increase to the minimum of a B15 blend. This will lead to most stations using B20 biodiesel or R99 Renewable diesel if allocations allow for it. To learn more about these changes that will affect your company’s vehicles, equipment, and annual fuel purchasing schedule an appointment with one of our fuel market analysts.

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Important Note: Per the City Of Portland, “Distributors in the City of Portland are required to meet the minimum biofuel content requirements for all fuel they distribute beginning on May 15, 2024. All diesel fuel distributed to retail stations, non-retail dealers, or wholesale purchaser-consumers must include a minimum of 15% biofuel content, from either renewable diesel or biodiesel. This requirement increases to 50% on May 15, 2026, and 99% on May 15, 2030”.

 

Reasons For Price Variance:

Crude oil is trading above $80 for the first time in eight weeks, at a current price of $80.20/barrel, $1.95 higher than last week, as oil prices trended upward, for the second week in a row.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $80.20 per barrel compared to $78.25/barrel, last week and $84 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

Sign Up

refuel-equipment-star-oilco-portland-or
Fuel Market Report: June 2nd – June 8th, 2024 1024 683 Star Oilco

Fuel Market Report: June 2nd – June 8th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

Fuel prices within the market have continued to drop, as rack prices for gasoline dropped $0.14 this week, with diesel only dropping $0.02 for B5 and bumping up $0.03 for B20. With the RFS in Portland, demand for B20 is increasing, many companies are running a R80/B20 blend of fuel (80% Renewable Diesel, 20% Biodiesel). Allocation for Renewable diesel is still not where it needs to be for the city to be able to supply it at the volume that will be needed in the near future. B5 demand will soon phase out and B20 will become the predominant fuel within the Portland area.

Curious to learn more about R80/B20 blends? Book an appointment with our of our low-carbon fuel analysts to help bring you up to speed.

City of Portland began their fuel blending requirements for all diesel blends to increase to the minimum of a B15 blend. This will lead to most stations using B20 biodiesel or R99 Renewable diesel if allocations allow for it. To learn more about these changes that will affect your company’s vehicles, equipment, and annual fuel purchasing schedule an appointment with one of our fuel market analysts.

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Important Note: Per the City Of Portland, “Distributors in the City of Portland are required to meet the minimum biofuel content requirements for all fuel they distribute beginning on May 15, 2024. All diesel fuel distributed to retail stations, non-retail dealers, or wholesale purchaser-consumers must include a minimum of 15% biofuel content, from either renewable diesel or biodiesel. This requirement increases to 50% on May 15, 2026, and 99% on May 15, 2030”.

 

Reasons For Price Variance:

Crude oil is trading below $80 for the seventh week straight, at a current price of $78.25/barrel, $4.82 higher than last week, as oil prices trended upward, this past week.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $78.25 per barrel compared to $73.43 last week and $79 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

Sign Up

refuel-equipment-star-oilco-portland-or
Fuel Market Report: May 26th – June 1st, 2024 1024 683 Star Oilco

Fuel Market Report: May 26th – June 1st, 2024
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Oregon Fuel Price Variance

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Fuel Market News

Prices are dropping across the market. Rack averages for E10 have dropped $0.19 this past week, while rack averages for B5 dropped $0.04 and B20 dropped $0.01. A major reason for this is the significant drop in crude oil prices as crude dropped $6.40 this week, its largest drop in 6 months. We can expect gas prices to begin to climb back up slightly as the demand for gasoline should be increasing soon as the summer travel trends begin. The EIA reported last week that US Diesel demand hit a 26-year low in March, dating back to 1998. Renewable fuel production and green infrastructure becoming more prominent is likely a major contributor to the diesel demand drop.

 

City of Portland began their fuel blending requirements for all diesel blends to increase to the minimum of a B15 blend. This will lead to most stations using B20 biodiesel or R99 Renewable diesel if allocations allow for it. To learn more about these changes that will affect your company’s vehicles, equipment, and annual fuel purchasing schedule an appointment with one of our fuel market analysts.

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Important Note: Per the City Of Portland, “Distributors in the City of Portland are required to meet the minimum biofuel content requirements for all fuel they distribute beginning on May 15, 2024. All diesel fuel distributed to retail stations, non-retail dealers, or wholesale purchaser-consumers must include a minimum of 15% biofuel content, from either renewable diesel or biodiesel. This requirement increases to 50% on May 15, 2026, and 99% on May 15, 2030”.

 

Reasons For Price Variance:

Crude oil is trading below $80 for the sixth week straight, at a current price of $73.43/barrel, $6.40 lower than last week, as oil prices trended down, for the first time in three weeks.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $73.43 per barrel compared to $79.83 last week and $80 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

Sign Up

refuel-equipment-star-oilco-portland-or
Fuel Market Report: May 19th – May 25th, 2024 1024 683 Star Oilco

Fuel Market Report: May 19th – May 25th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

The fuel market experienced minimal price variances this past week, as diesel prices hardly moved and gas prices surprisingly fell $0.20 on the wholesale market. The retail market did not see as steep of a decline for gasoline as the retail average in Oregon dropped only $0.06. It is not much of a surprise that the market didn’t move much last week, as many were out for the week for Memorial Day. However, it is surprising that with the increased travel trends, gas prices did not jump.

 

City of Portland began their fuel blending requirements for all diesel blends to increase to the minimum of a B15 blend. This will lead to most stations using B20 biodiesel or R99 Renewable diesel if allocations allow for it. To learn more about these changes that will affect your company’s vehicles, equipment, and annual fuel purchasing schedule an appointment with one of our fuel market analysts.

fuel-market-report-star-oilco-5-18-24

Important Note: Per the City Of Portland, “Distributors in the City of Portland are required to meet the minimum biofuel content requirements for all fuel they distribute beginning on May 15, 2024. All diesel fuel distributed to retail stations, non-retail dealers, or wholesale purchaser-consumers must include a minimum of 15% biofuel content, from either renewable diesel or biodiesel. This requirement increases to 50% on May 15, 2026, and 99% on May 15, 2030”.

 

Reasons For Price Variance:

Crude oil is trading below $80 for the fourth week straight, at a current price of $79.83/barrel, $0.51 higher than last week, as oil prices trended upward, for the second time in four weeks.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $79.83 per barrel compared to $79.32 last week and $81 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

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Fuel Market Report: May 12th, 2024 – May 18th, 2024 1024 683 Star Oilco

Fuel Market Report: May 12th, 2024 – May 18th, 2024
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Oregon Fuel Price Variance

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Fuel Market News

The fuel market experienced minimal price variances this past week as the wholesale market saw rack averages drop $0.05 for gasoline, $0.01 for B5 diesel, and $0.02 for B20. The retail market dropped slightly as the average price for gasoline in Oregon dropped to $4.36 while diesel averages dropped $0.04. Diesel prices have been relatively low over the last few weeks, as gasoline has lacked much consistency in its price, hovering within $0.10 of its price the weeks before. The Portland market will see an influx of B20 and R99 into supply as the City Of Portland begins phasing out petroleum diesel.

 

City of Portland began their fuel blending requirements for all diesel blends to increase to the minimum of a B15 blend. This will lead to most stations using B20 biodiesel or R99 Renewable diesel if allocations allow for it. To learn more about these changes that will affect your company’s vehicles, equipment, and annual fuel purchasing schedule an appointment with one of our fuel market analysts.

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Important Note: Per the City Of Portland, “Distributors in the City of Portland are required to meet the minimum biofuel content requirements for all fuel they distribute beginning on May 15, 2024. All diesel fuel distributed to retail stations, nonretail dealers, or wholesale purchaser-consumers must include a minimum of 15% biofuel content, from either renewable diesel or biodiesel. This requirement increases to 50% on May 15, 2026, and 99% on May 15, 2030”.

 

Reasons For Price Variance:

Crude oil is trading below $80 for the second week straight, at a current price of $78.12/barrel, $0.51 lower than last week, as oil prices trended downward, for the fourth straight week.

 

Crude oil is the main ingredient for gasoline and diesel. Per AAA, on average about 50% of what you pay at the pump is the price of crude oil, breaking down as 25% refining, 11% distribution & marketing, and 14% taxes—a helpful breakdown for consumers wondering why they are paying the prices that they pay. Crude Oil is trading at $78.12 per barrel compared to $78.63 last week and $81 a year ago.

It’s essential to recognize that fuel prices result from a complex interplay of the factors mentioned above and other factors regionally. Additionally, prices may vary by specific regions within Oregon and Washington. For the most precise and up-to-date information on fuel prices and the causes for these price changes within your area, use the links below for AAA & GasBuddy.

If you have any questions, feel free to contact Star Oilco and speak to one of our fuel market advisors to discuss how the market can impact your business.

For other news in the fuel market:

● https://gasprices.aaa.com/?state=OR

● https://www.gasbuddy.com/charts

Join the Fuel Market Report newsletter for your weekly fill of updates!

Sign Up