Star Oilco

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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.

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”.

 

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

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

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Fuel Market Report: May 26th, 2024 – June 1st, 2024 1024 683 Star Oilco

Fuel Market Report: May 26th, 2024 – 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”.

 

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% taxesa 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

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

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Biofuels industry exceeds EPA’s expectations 1024 618 Star Oilco

Biofuels industry exceeds EPA’s expectations

Biofuels Industry Surpasses Expectations with a Massive Production Rise

Based on the data, biomass-based diesel production has increased massively in the United States, including biodiesel, renewable diesel, sustainable aviation fuel, and heating oil. Biomass-based diesel was expected to produce 4 billion gallons in 2023. Biofuel production and use increased by one billion gallons from last year to this year, which is a big jump. As a result of this achievement, a breakthrough has been achieved. The industry has surpassed what the EPA once thought was impossible with the development of advanced biofuels derived from sustainable sources.

So the real question is, what if we don’t choose biodiesel or renewable diesel over petroleum diesel for our diesel engines?

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  • Biofuel production soared in 2023, exceeding EPA goals.

  • US biomass-based diesel production (biodiesel, renewable diesel, SAF, heating oil) reached 4 billion gallons.

  • Biofuel production and use jumped by 1 billion gallons year-over-year.

Clean Fuel Industry Beats Regulations in Decarbonization Push

While the Clean Fuels Alliance urged the EPA to set even more ambitious goals, like increasing biomass-based diesel production by 500 million gallons a year over the next three years, the EPA has taken a more conservative approach. Regulations aren’t keeping up with the industry, but it’s not waiting for them. Clean fuels are becoming more accessible and heavy-duty transportation fuels used by aviation and maritime are getting decarbonized. The industry has shown its ability to grow quickly and sustainably thanks to this collaborative effort.

  • Clean Fuels Alliance pushed for aggressive EPA goals: 500 million gallons annual increase in biomass-based diesel production for 3 years.

  • EPA’s finalized standards took a cautious approach.

  • Oil and gas producers, refiners, distributors, and retailers don’t have to wait for strict regulations to act (producers, refiners, distributors, retailers).
  • Industry collaboration demonstrates the potential for rapid, sustainable growth.

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Despite this year’s achievements, the Clean Fuels Alliance remains focused on the future. There’s so much potential in sustainable biofuels that we think the EPA hasn’t tapped into yet. Supporting biodiesel, renewable diesel, and SAF production can help achieve clean energy progress.

In reality, why wouldn’t we make the switch to lower our carbon emissions today?

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

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Every Question We Have Been Asked About Renewable Diesel 1024 696 Star Oilco

Every Question We Have Been Asked About Renewable Diesel

Renewable Diesel Frequently Asked Questions (FAQ)

Every Question we have been asked about Renewable Diesel

What is renewable diesel?

Renewable diesel is a synthetic diesel fuel, known for it’s lower CO2 characteristics, typically seeing purity and real world performance response superior to petroleum diesel fuel.  Renewable diesel is a next generation hydrocarbon diesel biofuel made by either the Fischer-Tropsch or Hydrogenation processes.

Hydrogenated renewable diesel is made by taking fats, oils, and greases by use of a hydro-treater.  The biomass based oil or fat is cracked and reformed in the presence of hydrogen and  catalyst forming a hydrocarbon diesel molecule.

Fischer-Tropsch renewable diesel is used by converting any btu dense feedstock (wood waste, woody biomass, municipal garbage, coal, and an endless list of low value waste products into syngas, then converting this into a wax that is reformed into hydrocarbon diesel.

Can Renewable Diesel be used as Heating Oil?

Yes.  Renewable Diesel is a synthetic hydrocarbon diesel fuel.  It can be used interchangeably with petroleum diesel products of similar grade. Heating Oil is typically number 2 diesel which is the same specification as Dyed R99 Renewable Diesel (or blends of Renewable Diesel with petroleum diesel).   Star Oilco now offers R99 Heating Oil delivered in the Portland metro region area of Oregon.

Most modern oil heat appliances use a Becket Burner.  For more on heating fuel compatibility with oil furnaces and oil burning appliance please see “Alternative Fuels and Becket Burners” for more information.

Why do people use renewable diesel over petroleum diesel?

Fleet managers operating R99 Renewable Diesel report a lower mechanical cost of operation using the fuel.  Beyond the immediate benefit of R99 cutting CO2 emissions by half or more, fleets experience performance benefits from the fuel.  The big savings are seen the the performance of Tier 4 Emission systems on modern diesel seeing far less wear of the Diesel Particulate Filter system as well as far fewer regenerations of the system.  Additionally Renewable Diesel is a very clean and dry diesel fuel improving the storage stability, field operation, and general predictability of the fuel’s performance.

How do I know Renewable Diesel is being sold at a retail location?

Renewable Diesel is a hydrocarbon diesel that meets the specification for petroleum diesel known as ASTM D975 specification.  This means currently R99 can be readily blended and sold with petroleum diesel without a disclosure.  The US Federal Trade Commission and local state Weights and Measures have rules for retail pump labeling.  Blend percentages of biomass based diesel must be labeled especially if being advertised.  As R99 Renewable Diesel has a higher value and is sought out by many consumers though usually it is disclosed.  The pump labeling for R99 Renewable Diesel typically looks like the below.

R99 Renewable Diesel fuel dispenser label

What is renewable diesel made of?

Renewable diesel can be made from a host of things, usually a low value waste product. The most common feedstock used currently is waste vegetable oil, wastes from animal rendering, and other biologically derived oils. Processes using bio-oils are following a Hydrogenation process to turn low value waste oils into high value diesel and jet fuel.

Chevron Renewable Energy Group and Diamond Green Diesel (Diamond Green is in a joint venture with Valero) are the largest producer of renewable diesel with their REG Ultra Clean Diesel product in the United States. Neste is the largest producer of renewable diesel internationally, with its “Neste My” product.  being the two largest producers of low CO2 bio-oil derived renewable diesel fuels.

Major petroleum refiners have also turned around existing petroleum refineries into Renewable Diesel Refineries to produce this in demand low CO2 fuel. HF Sinclair , Marathon, Phillips 66, and Montana Renewables. There are quite a few newer Renewable Diesel projects planned and in progress around the United States as well as in the Pacific Northwest.

Other refiners of renewable diesel (on a much smaller scale of production) are using a Fischer-Tropsch process with wood waste, sorted higher grade municipal garbage, and other high btu value carbon based waste products.  Many expect this to technology to be the future of all diesel and jet fuel refining turning refuse into fungible low carbon fuel.

What is renewable hydrocarbon diesel?

Renewable hydrocarbon diesel is a synthetic diesel fuel made from non-petroleum feedstocks like vegetable oil, animal fats, municipal waste, agricultural biomass, and woody biomass. It is characterized by having a low CO2 and renewable resource for its feedstock and is made without crude petroleum, coal, or natural gas as a direct feedstock input in the refining process.

How do they make renewable diesel?

Renewable diesel is made by several processes. If you are buying renewable diesel, it is probably from a Hydrogenation process used by Renewable Energy Group and Neste for their products. Other smaller volume producers are using a Fischer-Tropsch process or Fast Pyrolysis. Both processes involve taking energy dense molecules, cracking those molecules under heat and pressure, then reforming them in the presence of a catalyst and added hydrogen, which forms a renewable diesel molecule.

Is renewable diesel a lower carbon fuel compared to petroleum diesel?

Yes, to this point all renewable diesel made from renewable feedstocks have appeared to be a lower CO2 fuel compared to petroleum diesels. The California Air Research Board in particular has done research on this in depth.

The low CO2 lifecycle emissions of Renewable Diesel also is tracked closely and supervised by California’s Low Carbon Fuel Standard, Washington’s Low Carbon Fuel Standard, and Oregon’s Clean Fuels Program. The highest value markets for low CO2 fuels in the United States are California and Oregon, which both have mechanisms that track and price the CO2 intensity of diesel fuels as well as the sustainable lower CO2 substitutes and blend-stocks that can go in those diesels. They track, rate, and determine the carbon intensity of the fuels providing a neutral and scientifically defensible number for CO2 reduction.

Is renewable diesel available in Oregon?

Renewable diesel is readily available for delivery from Star Oilco throughout the Pacific Northwest via 10,000 gallon volumes of bulk delivery.   Star Oilco is also offering bulk delivery of any size and mobile onsite fueling service within 100 miles of the Portland, Oregon market.

Star Oilco has R99 Renewable Diesel available with a Star Oilco CFN Cardlock card in Portland, Oregon.

What is the difference between biodiesel and renewable diesel?

Biodiesel and renewable diesel are very different fuels made with very different processes. In a nutshell, biodiesel is made with a simple chemical reaction that turns vegetable and animal fats into fuel. Renewable diesel is made from far more complicated process where vegetable and animal fats (as well as other feedstocks) are cracked on a molecular level and built back into synthetic diesel fuel.

What is the difference between renewable diesel and Sustainable Aviation Fuel?

The difference between the fuels is the specific gravity and general specification for what the fuel is used for. Jet fuel, or Sustainable Aviation Fuel, and on-road diesel fuel are different fuels and therefore have different specifications. Renewable diesel is typically referring to a #2 diesel specification for on road diesel use.

Sustainable Aviation Fuel or “SAF” is typically referring to “Jet A” or “JP8” jet fuel specification for fuel. This is a #1 diesel range fuel with use and handling requirements that are far more stringent than for on-road or off-road diesel fuels. Renewable jet fuel can be used as a kerosene or #1 diesel fuel but renewable diesel cannot be used as a jet fuel.

Where do I buy renewable diesel in Oregon or Washington?

Renewable Diesel is currently available for bulk delivery and mobile onsite fueling. It will soon be offered at commercial cardlock in the Portland area. It is being sold as R99 and as Ultra Clean Diesel, which is a mixture of biodiesel, renewable diesel, and petroleum diesel.

What is R99?

R99 stands for 99% renewable diesel and 1% petroleum diesel.  Federal rules over alternative diesel fuels made fuels requires that manufacturers of non-petroleum derived diesel fuels must blend a minimum 1% petroleum with the fuel to generate a Renewable Industry Number or “RIN” under the US Federal Renewable Fuel Standard. Additionally there are other incentives that require a “blender of record” to receive these tax credits.

Is renewable diesel being made in Oregon?

As of Spring 2022, renewable diesel is not being manufactured in Oregon. There is a major projects underway, Next Renewable Fuels in Port Westward, Oregon.

What is renewable diesel made from?

Renewable diesel can be made from many energy dense carbon based material.  By volume of produced product sold in the United States, vegetable oils and animal fat-based wastes are the most common feedstock. Woody biomass, agricultural wastes, and sorted municipal wastes are also sources for renewable diesel production.

Is renewable diesel made from palm oil?

Palm oil can be used as a feedstock for renewable diesel. There are producers who use palm oil as a feedstock. In the United States, feedstocks and carbon intensity are tracked closely under both Oregon and California’s fuel programs.  You can determine if a supplier is using palm oil as a feedstock through these regulated pathways.

How much does renewable diesel cost?

This is a tough question to answer given there are several markets intersecting.  From the feedstocks to the market demand for the finished product as well as both California and Oregon’s Clean Fuel Standards which place a price on the CO2 intensity of the fuel which reduces the cost of the fuel if consumed in Oregon and California.

It has consistently been trending between the same cost and over $1 a gallon higher than petroleum diesel depending on the state, you buy renewable diesel in. In California, renewable diesel is very close to petroleum diesel depending on the value of CO2 credits for lower-carbon fuels. In Oregon, it has consistently been between $.05 to $.80 a gallon higher than diesel also depending on the value of CO2 abatement associated with the fuel and what these carbon credits are trading for.

When petroleum diesel costs are high Renewable Diesel tends to be more competitive with petroleum diesel.  When petroleum diesel is below $3 a gallon the cost of Renewable Diesel by comparison is usually higher unless CO2 credits are in higher than normal demand for Clean Fuels Program demands.

Can you mix petroleum diesel and renewable diesel?

Yes. Renewable diesel and petroleum diesel can be blended in any mixture without worry. They are drop-in substitutes for each other in your fleet’s use.  Renewable Diesel is a drop-in fuel. It is a hydrocarbon diesel that will work mixed with diesel or biodiesel blends of petroleum diesel.

More questions coming… or if you would like to learn more contact us.

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Fuel Market Report: May 19th, 2024 – May 25th, 2024 1024 683 Star Oilco

Fuel Market Report: May 19th, 2024 – 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.

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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”.

 

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

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

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Don’t just fill up, power up: Diesel Quality Matters 1024 512 Star Oilco

Don’t just fill up, power up: Diesel Quality Matters

There are different grades of diesel fuel just like gasoline, and they can have a big impact on your vehicle’s performance, efficiency, and longevity. Quality diesel offers substantial benefits for your hard-working trucks, even when price is a major factor.

Clean Diesel: A Boost for Your Engine and the Environment

High-quality fuel goes beyond just powering your engine, unlike standard diesel. Like TOP TIER gasoline, premium diesel has enhanced cleaning additives. As a result, you’ll see a range of benefits that directly impact your vehicle’s performance, efficiency, and even your wallet. Let’s take a look at clean diesel’s advantages.

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  • Improved Performance: Clean fuel ignites readily, giving your engine a noticeable power boost and smoother operation.

  • Enhanced Fuel Economy: Every drop counts! Clean diesel allows you to travel farther on a single tank.

  • Reduced Emissions: Be eco-friendly – cleaner burning translates to less smoke and pollutants in the air.

  • Extended Engine Life: Protect your investment! High-quality diesel reduces wear and tear on your engine components, saving you money on repairs down the road.

Understanding Diesel Quality

Two key factors determine diesel quality: the cetane number and the sulfur content. The cetane number tells you how easily fuel ignites, like a spark plug’s rating. Higher cetane numbers mean smoother starts, less knocking, and better performance – essential for modern diesel engines that typically need 40 or higher cetane ratings. Sulfur, however, can damage emissions systems and engine components if too much is used as a lubricant. These days, sulfur content is capped at ultra-low levels (Ultra-Low Sulfur Diesel or ULSD), ensuring cleaner engines.

  • Cetane Number: This number indicates how easily fuel ignites. Higher cetane numbers mean smoother starts, less engine knocking, and better overall performance. Modern diesel engines typically require a 40 cetane rating.

  • Sulfur Content: Sulfur acts as a lubricant in diesel fuel, but excessive levels can harm emissions systems and engine components. Modern regulations limit sulfur content to ultra-low levels (Ultra-Low Sulfur Diesel or ULSD).
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Beyond the Pump: The Long-Term Value of High-Quality Diesel

While price at the pump is important, don’t let it overshadow high-quality diesel’s long-term value. Clean fuel isn’t just about saving money; it’s about keeping your car healthy. Clean diesel unlocks a bunch of benefits: a smoother ride and more power, better fuel economy that lets you go farther on each tank, fewer emissions so you don’t have to worry about air pollution, and a longer engine life, so you don’t have to spend money on repairs. Do you want to feel the difference? The next step is to find a good diesel provider. Thanks to enhanced cleaning additives, many stations prioritize clean diesel. Discover how clean diesel can improve your vehicle’s performance, efficiency, and longevity by researching stations near you.

Imagine a scenario where cleaner diesel offered similar performance and reliability to regular diesel. What other factors might still prevent you from making the switch?

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”.

 

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

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

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Fuel Market Report: May 5th, 2024 – May 11th, 2024 1024 683 Star Oilco

Fuel Market Report: May 5th, 2024 – May 11th, 2024

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Oregon Fuel Price Variance

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Fuel Market News

The fuel market experienced downward price fluctuation, as two-thirds of the country experienced price drops at the pump. This has largely been due to the falling price of crude oil as it is below $80 for the second week straight. In Oregon, wholesale gasoline prices dropped $0.15, while diesel prices $0.08. We saw this trickle down to the retail pumps as prices dropped $0.07 for gasoline and $0.03 for diesel.

 

A few factors that could affect the fuel market as we roll into summer are wildfires across the country as they are more common in the summer months, increased demand for gasoline, and increased travel trends.

 

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 book an appointment with one of our fuel market analysts.

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”.

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

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

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Fuel Market Report: April 28th, 2024 – May 4th, 2024 1024 683 Star Oilco

Fuel Market Report: April 28th, 2024 – May 4th, 2024

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Oregon Fuel Price Variance

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Fuel Market News

The fuel market experienced minimal price variances this week. Gasoline prices on the wholesale market dropped $0.08 but did not trickle down as the retail market only dropped $0.03 for gasoline. Diesel prices dropped $0.05 on the wholesale market while the retail market only dropped $0.02. Although price variances were minimal, the fuel market of Portland experienced a generational change in the past weeks as the City of Portland began their fuel blending requirements for all diesel blends to increase to the minimum of a B15 blend. This will likely 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 book an appointment with one of our fuel market analysts.

 

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”.

 

Crude oil is trading below $80 for the first time in 6 weeks, at a current price of $78.63/barrel. This is $3.26 lower than last week, as oil prices trended downward, 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 $78.63 per barrel compared to $81.89 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

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Fuel Market Report: April 21st, 2024 – April 27th, 2024 1024 683 Star Oilco

Fuel Market Report: April 21st, 2024 – April 27th, 2024

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Oregon Fuel Price Variance

fuel-market-report-star-oilco-4-27

Fuel Market News

The fuel market experienced mixed price variances this week, as diesel prices dropped slightly and gas prices jumped $0.14 on the wholesale market, and only $0.05 on the retail market. The national average price for gasoline is at its highest since October, while no county in Oregon is averaging below $4/gal. With political climates in the Middle East and seasonal maintenance repairs for refineries, it is expected that oil prices will remain high in the coming weeks. Although, oil prices decreased this past week by $0.96, most analysts predict oil prices to increase in the following weeks.

Crude oil is trading above $80 for the fifth straight week at a current price of $81.89/barrel. $0.96 lower than last week, as oil prices trended downward, 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 $81.89 per barrel compared to $82.85 last week and $87 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

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