Energy Market Updates

Don't Forget! MA Gas & Diesel Tax Rate Change Effective Today!

The State of Massachusetts, as part of the Transportation bill, has voted to increase the state excise tax on gas & diesel. This increase will be tied to inflation and increase annually. The increase this year, effective today, July 31 2013, is $0.03, which raises the excise tax to $0.24 per gallon.

 

 

The current breakdown of taxes on over the road fuel products in MA is as follows:

 

Diesel

Federal Excise Tax: .243

Federal Lust: .001

Federal Oil Spill: .0019

MA State Excise Diesel: .240

MA URP: .0119

MA UST : .025

 

Gas:

Federal Excise Tax: .183

Federal Lust: .001

Federal Oil Spill: .00171

MA State Excise: .24

MA URP: .00119

MA UST: .025

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Springfield MA to Lose 100+ Jobs Over Service Interruptions

An Ounce of Prevention is Better than a Pound of Cure!!

According to WGGB.com, a Springfield MA based call center is closing due to the potential service interruptions the company has incurred and  forsees based on the extreme weather Western Mass has been hit with in the past few years. This closure will cost over 100 people their jobs in the Springfield area. According to their CFO, the assurance of 24/7/365 service they provide to their customers prompted the companies decision to move to a less disruptive area. (In this case, Chicago).

Service interruption is a primary concern, especially with the ever increasing data storage requirements and 24-7 nature of many industries today. Whether you run a  hospital emergency room, a  research and development lab or simply run servers to back up your financial data -  the fact is, you can NOT afford to lose your power and lose your data.

So what can you do about it?

An Emergency Generator. But how do you ensure your generator is ready to handle whatever nature throws your way?  You contract with a reputable fuel supplier who will guarantee that you are fueled and ready at all times. That’s where we come in.

Dennis K Burke’s Emergency Generator Program is the best way to guarantee that you’re ready. We guarantee delivery time windows along with a quarterly maintenance check-up that provides your fuel quality additives to keep your tank ready to go.

For more information on our Generator Program – you can click here: http://www.burkeoil.com/fuel-and-gasoline/generator-fuel-program, or speak to one of our experts at 617-884-7800 or by email at insidesales@burkeoil.com  

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Bulls Remain in Control of Markets

July 16th - Energy Bulls showed their muscle today by posting solid gains after an ever so slight dip yesterday.  On the back of an early weak dollar, RBOB and HO were up almost .03 cents in the early morning.  After what appeared to be some resistance touching, futures slid to even shortly after Open outcry, even posting some negative numbers.  The slide was short-lived as traders began to focus on this weeks inventory levels that are projected to show a draw of roughly 3mbls of Crude, signaling a rising demand.  Small refinery news and traders rolling positions into AUG also contributed to today's rise.   Personally, I have said for months that HO is stuck in this large new normal range of 2.75 to 3.05, being at the top of that range now, one has to speculate at how much higher we can go.  At the close, Crude was able to shed some pounds finishing down .32 to $106.00, HO added .0208 to $3.0469 and RBOB gained .0314 to $3.1343.  RBOB appears to be driving the market so Wednesdays price action will be intresting.

Energy market heat chart

RBOB Close
               CLOSE         CHANGE        
 AUG   3.1343         +.0314
SEP   3.0530         +.0227
OCT   2.8702       +.0186
NOV    2.8074        +.0137
DEC    2.7655       +.0094
JAN    2.7437       +.0057
HEAT Close
      CLOSE            CHANGE
AUG    3.0469       +.0208
SEP    3.0464       +.0186
OCT    3.0449       +.0167
NOV    3.0426      +.0138
DEC    3.0401       +.0113
JAN    3.0382       +.0091

 

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