Weekly Fuel Market Update (WFMU) | August 18th, 2016
Crude oil and refined fuel prices hit a six week high this week. Reports of declining U.S. inventories, Saudi Arabia hinting of reducing production, and U.S. refinery interruptions were all possible factors in the price increases.
With the summer driving season winding down, demand for gas is slowing and we’re already seeing a slight increase for diesel. Generally, diesel prices rise during this time as school starts and the fall harvest season begins.
Local refiners are putting down pressure on the market as supply is fairly plentiful with little interruption to production in Amarillo, Lubbock, Midland/Odessa, and as far west as El Paso.
Call us about some of the most competitive prices on both gas and diesel in the Tucson area.
No significant change in this region this week.
Questions? We’re here to answer any market questions you may have. As always, you can reach me 24/7/365 at (888) 750-FUEL (3835)