The past year has offered a blend of subtle declines and notable changes in the oil and diesel markets, particularly relevant for fuel jobbers. Let’s delve into the evolution of these markets, highlighting the key factors at play and the implications for those at the heart of fuel distribution. Crude Oil: A Gentle Ebb Crude […]
Category Archives: Jobbers Market
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Feb
Feb
Recent Diesel Price Movements: The Department of Energy/Energy Information Administration’s average weekly retail diesel price decreased by 5.1 cents per gallon in the latest update, following a significant increase of 21 cents two weeks prior and a stable price last week. This price serves as the basis for most fuel surcharges.
Market Trends and Stability: Oil prices have shown relative stability, with Brent crude trading within a tight range. However, ultra-low sulfur diesel (ULSD) prices on the CME commodity exchange have exhibited a downward trend, with some recent recovery. Regional diesel markets in the U.S. have seen varying degrees of strength, with some areas experiencing price improvements.
Potential Market Influences: Tensions in the Middle East and possible diversions of oil shipments away from the Red Sea/Suez Canal route could impact oil prices by tightening supply. Additionally, a limited supply of new tankers in 2024 could lead to increased demand for existing vessels, potentially affecting transportation costs and market dynamics.