San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1924-04-27
TONE IN
GAS MARKET AS
SPRING COMES.
Motoring Weather Improves
State Of Mind Of Dis /
tributors Somewhat. !
NO PRICE MOVEMENTS
Gasoline Expected to Get
Out Of. Rut Shortly but
Buyers Are Slow.
NO PRICE MOVEMENTS

Tulsa. Okla, April 26.-Better in
dications of more active trading in the
local refined oil market is rapidly ma
terializing in the face of continued
good weather for motor fuel consump-
ton. The turn in weather conditions,
the guiding factor in the market for
the last few weeks. has improved the
state of mind of distributors. More
inquiries have been received in the
market than for several weeks but
with exception Of kerosene, trading
has not yet materialized to anything
like full strength. The latter product
has been the outstanding development
of the week. There is consensus Of
opinion among refiners that gasoline
will be taken out of the rut shortly
but buyers thus far have been slow
to move.
One of the main handicaps' to gaso-
line trading has been the widespread
effect of large stocks on hand and adj
verse publicity to this effect. Jobbers
who have cut down their stocks in the
last week or ten days are still taking
the view that they are in a buyers
market. Thus far they have been UNI
willing to bid the refiner's price but
have tenaciously held their own fig
ures which as matter of course is
below that of the refiner.
Must Absorb Stocks.
In view of these large stocks on the
market, close observers are of the
the opinion that it will be difficult to
advance the price to a level commen-
surate with production costs until q
large part Of these stocks has been
absorbed. Offerings at concessions now
and then might help the situation, at
least it would tighten the load on the
smaller plants unable TO carry sur
plus stocks for any length of time
and thus would give relief to these
plants, some refiners say. This sitaa-
ton might be remedied within the
next few weeks should weather con-
ditions remain good.
All trading in the local market is
being done at practically the same
prices as heretofore quoted from
Group 3 territory, with single excep-
ton of kerosene which shows an adj
vance of one-fourth of n cent. Move
ment of this product has been espe-
cially active though no large individ-
ual or group orders have been placed
in the market as vet. Most of the
buying is on a spot basis.
Refiners Stand Firm.
New Navy gasoline is generally
quoted at TO- -4 to IL cents with
small scattered offerings reported at
one-half cent loss. Concessions how
ever are not general and it looks like
all refiners will stand by their guns
to get the most they can from their
principal seasonal commodity. They
will sacrifice other products rather
than gasoline it appears The volume
Of gasoline business is about the same
as last week and movement is un-
changed. The 64-66 product is generl
ally quoted from u "a to Is cents
with North Texas and Oklahoma quo
tations apparently on a parity.
Natural gasoline is practically uns
changed with the expected summer de-
mand for blending purposes still held
off on account of the general gasoline
situation at the refineries. This prod.
uct is quoted at 93-4 to 10 cents for
grade A with grade B at S3-4 to =
cents and grade G bringing from 24
to STA cents. There is also a limit
ed volume OF trading in this COM
modify. a
Kerosene Demand Better.
A good kerosene demand from the =
agricultural sections of northwestern
and middle western states for tractor
use is developing strong market for
this product resulting in very firm
prices. The 41-43 grade is quoted at
4 IA to 4 IL cents while the 424f
grade brinSo SIS TO 4 IS cents. THIS
volume of Trading largely seasonal is
late in developing because of unfavOr-
able weather conditions and lars
winter in the wheat regions. The re-
cent volume of orders received by Ok
lahoma and North Texas refineries in-
dicates that the season is now under
way and short as it may be it, viii
assist materially in disposing Of the
of refined oil products
which have piled up in the Mid-Con-
tinent over winter.
Fuel oil has stiffened slightly in
last few days especially in North
Texas where storage has not been so
great and prices have been good until
a slump several days ago but the end
Of the slump appears TO have been
reached and prices on Il parity with
those in Oklahoma. namely from 10
cents to 81 barrel and in some To-
calities S1.05 a barrel are now being
asLa1 hr loodiu- refiDarS