Gasoline
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[edit] Overview
Gasoline is the most widely used liquid fuel. Gasoline (known as petrol in Britain, Canada, Austrailia, New Zealand, and many English-speaking countries) is made of hydrocarbon molecules forming aliphatic compounds, or chains of carbons with hydrogen atoms attached. However, many aromatic compounds (carbon chains forming rings) such as benzene are found naturally in gasoline and cause the health risks associated with prolonged exposure to the fuel.
Production of gasoline is achieved by distillation of crude oil. The desirable liquid is separated from the crude oil in refineries. Crude Oil is extracted from the ground in several processes, the most commonly seen may be beam pumps. To create gasoline, petroleum must first be removed from crude oil.
Gasoline itself is actually not burned, but the fumes it creates ignite, causing the remaining liquid to evaporate. Oil is extremely volatile and easily combusts, making any leakage extremely dangerous. Oil for sale in most countries carries an octane rating. Octane is a measure of the resistance of gasoline to combusting prematurely, known as knocking. The higher the octane rating, the harder it is to burn the fuel, which allows for a higher compression ratio. Engines with a higher compression ratio produce more power (such as in race car engines). However, such engines actually require a higher octance fuel.[1]
[edit] Application of Gasoline
A liquid fuel composed of a mixture of small, light hydrocarbons and produced by refining crude oil. Gasoline is mainly used by automobiles, trucks, and other motor vehicles. [2]
[edit] Outlook for Gasoline
Major Characteristics of 2008 U.S. Summer (April – September) Outlook for Gasoline
- Much higher crude oil prices
- Decline in gasoline consumption
- Surge in fuel ethanol production
- High gasoline inventory levels
- Lower imports and production from crude oil
- Weaker refining margins for gasoline
Regular Gasoline Retail Prices (Cents per Gallon)
- Retail Average Regular Gasoline Prices
| ' | 05/19/08 | 05/26/08 | 06/02/08 | 06/09/08 | 06/16/08 | 06/23/08 | 06/30/08 | 07/02/07 |
| U.S. | 379.1 | 393.7 | 397.6 | 403.9 | 408.2 | 407.9 | 409.5 | 295.9 |
| East Coast (PADD I) | 379.5 | 393.7 | 397.0 | 401.9 | 405.2 | 404.7 | 405.7 | 292.5 |
| Midwest (PADD II) | 379.9 | 395.1 | 395.2 | 398.2 | 399.7 | 399.6 | 403.1 | 295.4 |
| Gulf Coast (PADD III) | 368.9 | 382.9 | 384.6 | 390.9 | 393.7 | 391.9 | 392.8 | 285.1 |
| Rocky Mountain (PADD IV) | 368.6 | 385.1 | 389.0 | 394.1 | 399.4 | 400.2 | 403.4 | 309.7 |
| West Coast (PADD V) | 388.3 | 402.9 | 416.6 | 432.5 | 445.2 | 446.0 | 445.6 | 310.6 |
- Retail Conventional Regular Gasoline Prices
| ' | 05/19/08 | 05/26/08 | 06/02/08 | 06/09/08 | 06/16/08 | 06/23/08 | 06/30/08 | 07/02/07 |
| U.S. | 376.2 | 391.3 | 393.2 | 397.9 | 400.7 | 400.2 | 402.7 | 293.3 |
| East Coast (PADD I) | 378.4 | 393.5 | 395.5 | 399.9 | 402.5 | 401.8 | 403.4 | 290.6 |
| Midwest (PADD II) | 377.9 | 393.3 | 393.2 | 396.6 | 398.2 | 397.5 | 401.3 | 294.1 |
| Gulf Coast (PADD III) | 369.1 | 383.3 | 385.0 | 391.1 | 393.7 | 392.1 | 393.5 | 286.8 |
| Rocky Mountain (PADD IV) | 368.6 | 385.1 | 389.0 | 394.1 | 399.4 | 400.2 | 403.4 | 309.7 |
| West Coast (PADD V) | 380.0 | 394.0 | 406.0 | 414.7 | 423.5 | 427.1 | 428.2 | 305.1 |
- Retail Reformulated Regular Gasoline Prices
| ' | 05/19/08 | 05/26/08 | 06/02/08 | 06/09/08 | 06/16/08 | 06/23/08 | 06/30/08 | 07/02/07 |
| U.S. | 385.1 | 398.9 | 406.6 | 416.5 | 424.0 | 424.1 | 423.8 | 301.2 |
| East Coast (PADD I) | 381.2 | 394.1 | 399.4 | 405.2 | 409.5 | 409.4 | 409.5 | 295.7 |
| Midwest (PADD II) | 392.6 | 406.4 | 407.9 | 408.5 | 409.4 | 413.6 | 414.9 | 304.1 |
| Gulf Coast (PADD III) | 368.4 | 381.5 | 383.6 | 390.1 | 393.8 | 391.4 | 390.5 | 279.4 |
| Rocky Mountain (PADD IV) | NA | NA | NA | NA | NA | NA | NA | NA |
| West Coast (PADD V) | 391.9 | 406.8 | 421.3 | 440.2 | 454.6 | 454.3 | 453.2 | 313.0 |
Total Gasoline Stocks
| ' | 05/16/08 | 05/23/08 | 05/30/08 | 06/06/08 | 06/13/08 | 06/20/08 | 06/27/08 | 06/29/07 |
| U.S. | 209.4 | 206.2 | 209.1 | 210.1 | 208.9 | 208.8 | 210.9 | 204.4 |
| East Coast (PADD I) | 58.1 | 55.3 | 55.3 | 57.1 | 56.6 | 58.3 | 59.0 | 52.9 |
| Midwest (PADD II) | 48.2 | 48.6 | 49.3 | 49.8 | 51.4 | 49.9 | 50.6 | 49.1 |
| Gulf Coast (PADD III) | 69.4 | 69.2 | 70.9 | 70.2 | 67.9 | 66.7 | 67.3 | 65.8 |
| Rocky Mountain (PADD IV) | 5.5 | 5.5 | 5.9 | 5.8 | 6.0 | 6.3 | 5.8 | 6.1 |
| West Coast (PADD V) | 28.2 | 27.5 | 27.6 | 27.3 | 27.0 | 27.6 | 28.2 | 30.6 |
- Conventional Gasoline Stocks
| ' | 05/16/08 | 05/23/08 | 05/30/08 | 06/06/08 | 06/13/08 | 06/20/08 | 06/27/08 | 06/29/07 |
| U.S. | 101.8 | 101.8 | 103.5 | 103.1 | 104.0 | 104.0 | 104.5 | 112.0 |
| East Coast (PADD I) | 26.6 | 25.9 | 26.0 | 25.5 | 25.8 | 26.6 | 27.2 | 28.9 |
| Midwest (PADD II) | 30.2 | 31.0 | 31.8 | 32.2 | 33.8 | 32.9 | 33.4 | 33.6 |
| Gulf Coast (PADD III) | 36.0 | 35.5 | 35.7 | 36.0 | 35.0 | 34.5 | 34.5 | 36.2 |
| Rocky Mountain (PADD IV) | 3.9 | 3.9 | 4.3 | 4.1 | 4.3 | 4.4 | 4.0 | 4.3 |
| West Coast (PADD V) | 5.1 | 5.6 | 5.7 | 5.3 | 5.2 | 5.5 | 5.3 | 9.0 |
- Reformulated Gasoline Stocks
| ' | 05/16/08 | 05/23/08 | 05/30/08 | 06/06/08 | 06/13/08 | 06/20/08 | 06/27/08 | 06/29/07 |
| U.S. | 2.0 | 2.0 | 2.1 | 2.5 | 2.2 | 2.3 | 2.2 | 2.1 |
| East Coast (PADD I) | 0.2 | 0.3 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 |
| Midwest (PADD II) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Gulf Coast (PADD III) | 0.6 | 0.7 | 0.8 | 0.9 | 0.8 | 0.6 | 0.7 | 0.6 |
| Rocky Mountain (PADD IV) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| West Coast (PADD V) | 1.1 | 1.1 | 1.2 | 1.4 | 1.2 | 1.5 | 1.4 | 1.4 |
[edit] Days of Supply (number of days)
| ' | 05/16/08 | 05/23/08 | 05/30/08 | 06/06/08 | 06/13/08 | 06/20/08 | 06/27/08 | 06/29/07 |
| U.S. | 22.5 | 22.1 | 22.5 | 22.5 | 22.5 | 22.5 | 22.6 | 21.4 |
Days of Supply calculated as: U.S. Total Gasoline Stocks / Four-Week Average U.S. Finished Motor Gasoline Demand
