Thank you to everyone for a safe and wonderful 2018! I hope everyone enjoyed their New Year celebration and is looking forward to 2019!
Fuel prices are starting to carve out a bottom. Stocks and crude are starting to trade at normal volumes. There is not too much to report at this time. Oil prices are starting to cautiously rise but more predictions will come next week. OPEC is looking like they are sticking to their proposed cuts. The dollar is losing strength. Global economic acceleration is in question. Trade wars are in discussion. And demand strength is debatable. All great topics that will be better covered next week. So hang tight.
For now, enjoy some cheap gasoline and diesel prices at the pump! The Chicago SPOT market which sets cost in our area is WAY oversupplied in the moment. I would expect to see gasoline prices jump about 5 cents in the next couple weeks, and diesel is ripe for nearly a 20 cent+ price jump in the coming weeks! More to come!
Propane retail prices are stable and supplies are good. The warm weather is keeping demand in check. But the cold is coming. It’s just a matter of time. Please make sure that your driveways are plowed and there is a safe path to your propane tanks to ensure driver safety and efficient delivery.
Thank you again for a great year in 2018 and if you have any questions, comments, or concerns, please feel free to give us a call.
Best regards,
Jon Crawford – Pres.