Good afternoon!
I hope everyone had a great Halloween even though it was cold and snowy out. Sounds like the cold weather is going to stick around for awhile. If all weather patterns hold, we are in store for a colder winter with a lot of snow. I will keep you updated based on the prediction services we subscribe to.
Also, I wanted to clarify that there is no propane emergency in Wisconsin. Gov Evers issued an extension of service hours exemption this week and made reference to a propane emergency. This is not true. We are having a high demand cycle with corn drying and the early cold weather, but there is no emergency. Basically, trucks are waiting extra long hours to load product, so we want to make sure that drivers have enough hours on their books to deliver the product. Once corn drying is over, distribution will be back to normal. But there is no emergency, shortage of product for this winter, massive price spikes on the way, or anything to be too concerned about at this time. I will keep you posted as the month goes along.
Crude prices continue to trade narrow range. We are still predicting that WTI crude oil will trade around $55/barrel through the end of the year. Nothing new on this front.
In local retail news, refinery maintenance has been longer than expected and supplies are starting to get a bit tight. I would expect to see prices at the pump on gasoline and diesel rise next week.
Propane prices are rising due to increased demand, but nothing out of the ordinary. If you are on a will-call, please remember to check your tank. The early cold and snow has caught some customers by surprise! 🙂
If you have any questions, comments, or concerns, please feel free to give us a call.
Best regards,
Jon Crawford