July 16, 2013 | Weekly Fuel Market Update
Unrest in Egypt could be playing a significant role in pushing crude oil and gasoline prices higher over the last week. The national average price of gasoline jumped 11.7 cents per gallon in the last week alone and stands 19.5 cents per gallon higher than last year at this time.
The U.S. has 143 operable refineries. The Energy Information Administration (EIA) reported that as of January 1, 2013, those refineries had a total crude oil capacity of 17.8 million barrels per day, an increase of a half a million barrels from the year before. This is another sign of increased capacity of domestic oil, as well as domestic production of refined fuel.
Rising oil prices and increased demand sent gas and diesel prices up in Group 3 and USGC spot markets every day for over a week now, affecting most of New Mexico. Desert Fuels has good supply in New Mexico based on partnerships with every major NM refiner, enabling us to haul from all terminals in the area at some of the most competitive prices around.
West Texas / El Paso
Prices continue to be on the rise in Amarillo, Odessa/Midland, and Lubbock. Desert Fuels is serving, as well as shipping from these markets to New Mexico when the price makes sense.
Following the national trend, prices in Arizona continue to jump during summer’s peak demand. At Desert Fuels, we love talking about what the market is doing and how timing can help you save money on loads. Feel free to ask us what’s up—and down—on the fuel market!
Colorado – Front Range
Prices are up in the Denver market, but supply is good. Contact us to line up your loads as soon as possible so we can deliver where and when you need it. (888) 750-FUEL (3835)