Weekly Fuel Market Update (WFMU) | March 24th, 2015
Storage of crude oil in Cushing, OK is at record levels with room to grow. Storage levels dictate the cost of diesel and gasoline at the refineries, and Cushing is the benchmark for crude traded on the NYMEX. With these inventory levels we expect refined fuel prices to stay lower in the near future.
No sign of tightening fuel supply in the area as local refineries are still flooding the New Mexico market with low priced fuel.
Production is good as refineries have finished their seasonal maintenance. Wholesale customers in Midland/Odessa should take advantage of some of the lowest prices we’ve seen since December. Desert Fuels has made Midland/Odessa home over the last year and has some of the most competitive prices in area
Prices are following national trends with good supply in the region.
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)