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Posted May 1, 2025Oil prices and refinery margins fell slightly in first quarter of 2025 ›
Note: Refinery margin is calculated as the 3-2-1 crack spread on the U.S. Atlantic Coast, which represents two barrels of gasoline and one barrel of distillate fuel oil minus three barrels of Brent crude oil. 1Q25=first quarter of 2025
During the first quarter of 2025 (1Q25), crude oil prices generally decreased while U.S. refinery margins initially increased before decreasing in the final month of the quarter. In this quarterly update, we review petroleum markets price developments in 1Q25, covering crude oil prices, refinery margins, biofuel compliance credit prices, and natural gas plant liquids prices.
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- 4/30/2025
- Wind and solar combined share of generation
- 18.8
- %
-
3.3%
from year earlier
- 4/30/2025
- Daily electric power demand
- 10670
- GWh
-
3.0%
from year earlier
- 4/28/2025
- Natural gas spot prices
- $2.96
- /million Btu
-
$0.207 /million Btu
from week earlier -
$1.405 /million Btu
from year earlier
- 4/25/2025
- Brent spot prices
- $66.99
- /barrel
-
$2.34 /barrel
from week earlier -
$22.96 /barrel
from year earlier
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