Retail Prices News

The Russian government has approved some changes to its fuel export ban, lifting the restrictions for fuel used as bunkering for some vessels as well as diesel with high content of sulphur, a government document showed on Monday. It also lifted restrictions on the export of fuel already accepted for export by the Russian Railways and Transneft before the initial ban had been announced last week. The ban on all types of gasoline and high-quality diesel remains in place. Russia…

High rates worldwide for moving oil are driving up Mexico’s fuel costs as importers face tanker fees on North America’s busiest maritime route that are more than double levels seen in recent years, traders and shippers said.On routes to Mexico, the extra costs have added price volatility to an otherwise stable freight market, according to Refinitiv Eikon data and people familiar with the matter.The rates are the latest blow to state oil company Petroleos Mexicanos, which controls the bulk of fuel imports later sold at subsidized retail prices.

Rare cargoes of diesel from China and South Korea have started to arrive in Russia due to a quirk in Russia's tax system which is making fuel shipments from abroad more profitable, data from traders and Refinitiv Eikon showed on Thursday.Because of a local tax scheme, Russian oil firms are due to make higher payments to the government despite a slump in oil prices due to excess supplies and the economic fallout from the coronavirus pandemic.That means the companies have little incentive to cut domestic retail prices for gasoline and diesel.But with prices lower on the global market…

After Hurricane Maria struck Puerto Rico with devastating force on September 20, 2017, a number of news reports claimed that the Jones Act had severely damaged the Puerto Rican economy, both over time and in the immediate aftermath of the storm. Now a new report examining the role of the Jones Act shipping industry before, in the immediate aftermath of and in the months that followed the hurricane asserts that the Jones Act fleet delivers a dedicated and reliable flow of goods…

Libya's naval forces seized a Togo-flagged fuel tanker and arrested its Greek crew on suspicion they planned to smuggle oil out of the North African country, a spokesman for the forces said on Thursday. Libya's western coast is a departure point for the smuggling of heavily subsidised gasoline to neighbours such as Tunisia and Malta, where retail prices are much higher. "The naval forces seized a Togo-flagged oil tanker in the territorial waters without permissions from the state of Libya. It has the name LAMAR," naval forces spokesman Ayoub Qassem told Reuters.

U.S. drivers are starting to feel the effects of Tropical Storm Harvey in their wallets as the country's fuel distribution network starting at the Gulf Coast and stretching across the country is squeezed by floods, refinery closures and dwindling supplies. At least 3.6 million barrels per day (bpd) of refining capacity is offline and more refineries are at risk of shut downs as the storm relentlessly dumps rain on Texas and heads toward Louisiana. The longer refineries remain shut, the more retail prices will increase, traders and analysts said. Two of the major pipelines delivering gasoline, diesel and jet fuel from the Gulf Coast are operating at reduced rates or plan to shut entirely, with wholesale markets in Chicago and the Gulf region seeing sharply higher prices.

The U.S. Energy Information Administration (EIA) has released its latest Short-Term Energy and Winter Fuels Outlook (http://www.eia.gov/forecasts/steo/). •         EIA projects average U.S. household expenditures for natural gas, heating oil, electricity, and propane will decrease this winter heating season (October 1 through March 31) compared with last winter, which was 11% colder than the previous 10-year average nationally. Projected average household expenditures for propane and heating oil are 27% and 15% lower, respectively, because of lower heating demand and prices. Lower heating demand and higher prices contribute to natural gas and electricity expenditures that are 5% and 2% lower than last winter. •         Driven in large part by falling crude oil prices, U.S.

Seakeeper proudly introduces five new models, offering stability and roll reduction for vessels 30’ and larger! The product range now includes the Seakeeper 5, 9, 16, 26 and 35 models, with gyros that are smaller and more powerful than ever. After developing the most effective zero-speed anti-rolling devices ever made, Seakeeper forever changed the experience of boating. To date, over 1,700 Seakeeper gyros have been delivered, installed on every major boat brand in the world. All models achieve from 70 to 90% reduction in roll, while requiring only modest electrical power. These versatile gyros have no outside appendages, and can be installed off centerline if needed.

The U.S Energy Information Adminstration have provided projections in their short-term Energy Outlook. * Driven in large part by falling crude oil prices, U.S. regular gasoline retail prices fell to an average of $3.49/per gallon (gal) in August, 12 cents below the July average and 21 cents below the average in June. U.S. regular gasoline retail prices are projected to continue to decline to an average of $3.18/gal in December, 12 cents lower than projected in last month's STEO. EIA expects U.S. regular gasoline retail prices, which averaged $3.51/gal in 2013, to average $3.46/gal in 2014 and $3.41/gal in 2015, 4 cents lower and 6 cents lower than last month's STEO, respectively.

After developing what it calls the most effective zero-speed anti-rolling devices ever made, Seakeeper said it forever changed the experience of boating. Within a decade, the company claimed a position as a global leader in active gyroscopic stabilization technology. Now, it introduces the Seakeeper 5, 9, 16, 26 and 35 models. These gyros are smaller and more powerful than ever. To date, over 1,700 Seakeeper gyros have been delivered, installed on every major boat brand in the world.

Traders Mercuria, Trafigura and SOCAR cut gasoline desks; new refining capacity slashes traditional profitability. U.S. refining boom weighs on global light products. Trading houses are shrinking their gasoline desks in response to a slump in activity, particularly in Europe, where overseas competition and rising global supplies have limited opportunities to make money. New and highly competitive refineries on the U.S. Gulf Coast, in Asia and the Middle East have increased global supplies of the motor fuel. That has made the most active and lucrative trading routes, such as the transatlantic arbitrage between Europe and the U.S. East Coast, less and less profitable for traders. "After a decent beginning to the year, the arbitrage to the U.S.

Equipment noise can quickly spoil the ambiance of even the most luxurious craft. Such problems are a thing of the past for lovely 130' Lady Kath, according to her captain, Bill Hipple. A new Marine Exhaust Systems G-19 water drop generator muffler significantly reduced genset exhaust noise, creating more peaceful days and nights for all onboard. After the installation, Lady Kath's 65 kW naturally aspirated Northern Lights generator exhaust was only 74 dBA. This allows normal tone conversation.

Visibility in all conditions is essential for a safe, enjoyable boating experience. Schmitt & Ongaro knows that a boat's windshield wipers are only as effective as the motor that powers them. That's why the company's new Heavy Duty Waterproof Wiper Motor comes packed with features that ensure dependable, trouble-free operation—all at an economical price. Living up to its heavy duty description, the wiper motor produces an impressive 15 N·m of torque when driving a wiper arm and blade.

Working in a dimly lit engine room can be unpleasant and even unsafe. DuraLed Engine Room & Utility Lighting from Hella marine brightens work areas with an ultra-wide spread of crisp white light. For convenience, an optional new ON/OFF switch on the lamp face is controlled by pressing the center Hella logo. To withstand the rigors of the damaging marine environment, the lights are completely sealed. Lenses are made of UV- and impact-resistant acrylic with a heavy-duty nylon shroud.

Innovative Electronics Company Debuts Line of Powerful Marine-Grade Computers with Space-Saving Design for Convenient and Flexible Installation. Kessler-Ellis Products (KEP) Marine, the manufacturer of industry-leading marine sunlight readable displays, and high-quality marine hardware and software products, announced today its new line of powerful marine-grade mini-rack computers, the Barracuda series. Built from the ground up to provide high performance computing in a small footprint, the Barracuda systems fit KEP Marine’s new proprietary space-saving 12-inch rack.

In the event of an engine room fire, once the fire suppression system is engaged it's critical that engines, generators and fans are shut down quickly. This both minimizes damage to equipment and helps contain the extinguishing agent within the compartment it's protecting. The ESRS Engine Shutdown System from Sea-Fire automates this procedure using microprocessor technology, in a simple plug and play design. ABYC requires automatic equipment shutdown if there is more than one air change per minute within the engine compartment.

In addition to its own extensive line of ultra-compact marine and industrial diesel gen-sets, Next Generation Power serves as one of the original Phasor Marine master distributors for the Southeastern US. Next Gen offers Phasor Marine 5-99 kW models that meet EPA Tier 3 and Tier 4 regulations, including newly-introduced ignition protection certified units. Phasor Marine models employ fuel-efficient Kubota and John Deere diesel engines, world-known for their quality and dependability.

Yesterday (April 27), the Center for Strategic and International Studies (CSIS) and the U.S.-Saudi Arabian Business Council co-hosted a conference on “U.S.-Saudi Relations and Global Energy Security.” At this conference, as he has stated recently in other venues, the Saudi Arabian Minister of Petroleum and Mineral Resources, Ali al-Naimi, stated that, “There is no general shortage of crude oil in today's market -- supplies are readily available.” The Saudi Arabian minister pointed to the “balkanized gasoline markets” and a shortage in U.S. refining capacity as reasons why gasoline prices are high in the United States. But the U.S. Deputy Secretary of Energy, Kyle McSlarrow, stated at the same conference that crude oil prices are “the driver” in the recent rise in gasoline prices.

Seven tankers carrying some 210,000 tons of petroleum products have been stranded outside the Dar es Salaam Port due to its slow discharging process, according to local press reports on Monday. These seven oil tankers arrived in Dar es Salaam in the third week of last month. Flow meters, installed at the port to curb tax evasion, are discharging oil from tankers at a rate of 500 tons per hour instead of 750 tons per hour. Local oil importers are fearing that retail prices of petrol and diesel might go up due to accumulated demurrage charges at the port. Earlier last month, car importers in Tanzania also complained about the handling capability of the Dar es Salaam Port that delayed the unloading of more than 1,000 motor vehicles from a roll-on/roll-off car carrier.

The European Union has told China that it will face a growing threat of trade penalties unless it curbs breakneck capacity expansion in steel and shipbuilding, EU diplomats said on Tuesday. The diplomats said EU Industry Commissioner Guenter Verheugen had delivered the warning during a round of high-level meetings in Beijing. They said feelings were running high over the two sectors because steel was an important industry in nearly all of the EU's 27 member states and because the EU's own shipbuilding industry had just been through a painful round of consolidation. An EU spokesman in Beijing, Michael Jennings, said later that Verheugen strongly distanced himself from any suggestion that the EU was close to initiating any measures on steel or shipbuilding.