Weekly Fuel Market Update (WFMU) | June 23rd, 2015
With oil over $60 a barrel, analysts are predicting that oil production in the Permian basin could increase. Several large producers have also confirmed that they have plans to ramp back up. That’s good for West Texas and Southeast New Mexico jobs, and could keep gas prices from rising any time soon.
Gas tightened up again in the last week. Prices have fallen over the last few weeks coming off of summer production runs.
The Odessa terminal is still experiencing short outages, causing suppliers to look to Lubbock and Artesia for product.
Prices in Phoenix and Tucson are following national trends, but Arizona has not experienced the overflow of product we have seen in most parts of the nation.
Questions? We’re here to answer any market questions you may have. As always, you can reach us 24/7/365 at (888) 750-FUEL (3835)