Weekly Fuel Market Update (WFMU) | November 5th, 2015
It’s hard to believe that one year ago, fuel was at least a dollar more at the pump. If I could see that coming, I would have waited to fill up :). Now with the news of increased crude production in Norway and the United Arab Emirates, will our fuel prices stay on a downward trend? With additional supply comes cheaper prices but at some point the industry will need to increase the price to cover the cost of production.
Supply has been tricky in this region lately with great prices accompanied with limited supply. This supply has slowly been returning to normal and we hope to see an increase in available product soon. With the colder months approaching, time to get a winter additive in your diesel to help prevent gelling.
Oil production this year has been higher than ever and it is still coming. With gas averaging $1.70 per gallon, this is a great time to lock in a fixed fuel contract. With the cold weather approaching and predicted to be below average, I hope the gas prices will stay down and supply is not effected.
The place where the pipeline ends! This is an area that can be effected by issues in multiple regions. At this time, supply appears to be fine and no issues in sight. But this can always change! The average price of gas has been around 1.91.
Questions? I’m here to answer any market questions you may have. As always, you can reach me 24/7/365 at (888) 750-FUEL (3835)