Weekly Fuel Market Update (WFMU) | April 16th, 2014
Crude oil prices increased at the beginning of the week due to escalating tension between Ukraine and Russia. Both Brent crude and WTI (West Texas Intermediate) saw gains.
Supply is great throughout most of the Land of Enchantment. The Group 3 Spot Region started up on diesel and down on gas for the start of the week. Diesel continues to move higher during the week. Gas is flat.
Product availability is tight in Amarillo and Lubbock areas due to terminal issues. Try to order loads at least 24 hours in advance. El Paso has great supply with very competitive pricing this week.
Arizona’s petroleum consumption is dominated by the transportation industry which uses five of every six barrels. Arizona has no refineries. Petroleum products are supplied by two pipelines, one from Southern California and a smaller one from El Paso, Texas. Desert Fuels is one of the leading suppliers of diesel for transportation companies in Arizona.
Colorado – Front Range
New technologies in horizontal drilling and hydraulic fracturing are helping Colorado produce 1 out of every 50 U.S. barrels of crude. Refined fuel supplies are good also right now.
Call your Dedicated Customer Account Manager today for the latest updates on the market in all of these regions. As always, you can reach us 24/7/365 at (888) 750-FUEL (3835).
Call us, 888-750-FUEL if you would like to discuss how we can design a fuel contract that fits your needs. From an OPIS based contract that moves daily with the market to a fixed forward contract where you lock into a fixed price per gallon for a period of time, we have the ability to help you buy better.