Gas & Diesel Outlook after Harvey’s Impact

Gas & Diesel Outlook after Harvey’s Impact - Hurricane Harvey, barreling through the Caribbean, Puerto Rico, the Keys and Florida two weeks ago is projected to cost up to $200 billion in damages. As if that weren’t bad enough, Harvey is also causing panic over rising gasoline process in his wake, due to all the refinery shutdowns. However, many leaders are saying the gas problem is not what the media is making it out to be. Instead, it’s time to get some perspective on the issues, says Fuel Marketer News. In a country where Americans consume 14 million barrels of gas and diesel every single day and demand that fluctuates with the driving seasons, let’s take a look at the reality in the United States: The U.S. has about 400 million barrels of refined products in stock, which means that even if 10 percent of refineries were shut down for one year (and the actual number is lower than that), we would actually have enough supplies to last for one year. Because retailers are worried about volume retention at unprecedented rates, their main focus is to “hold the line” on prices across the board. There are rules that are designed [...]

By |2017-09-28T10:00:48+00:00September 28th, 2017|Fuel Prices|Comments Off on Gas & Diesel Outlook after Harvey’s Impact

Summer Fuel Price News

Summer Fuel Price News - With spring fast upon us, projections from experts are abundant on what to expect when it comes to vehicle gas prices as we look ahead to summer. One thing’s for sure: the new Trump administration will affect market dynamics – it’s just not clear yet in which ways. According to Alan Levine and Brian Milne, here are the latest opinions on crude, gasoline, diesel (heating oil), propane and natural gas as reported by Fuel Marketer News (FMN). Crude As of now, crude is at between $50 and $55 per barrel, with an abundant supply of crude not only in the United States but throughout the world as well. Many factors may stabilize crude prices in the coming months. One of those points to OPEC’s recent production cuts which are keeping prices up. There are claims of high levels of compliance by overseas producers, mainly from Saudi Arabia and maybe even Russia. Saudi Arabia has said they would be open to deeper cuts in production if cheating goes on the rise again. On a related note, shale oil technology is getting even more efficient each year, but it’s still more costly than conventional oil. Gasoline [...]

By |2017-03-15T12:57:34+00:00March 15th, 2017|Fuel Prices|Comments Off on Summer Fuel Price News