Another wild day yesterday, and this week, as diesel futures traded in a $.10 range the last two days. There is something to be said that when you walk into a meeting the market is up $.01 and when you walk out it is down $.08! As the December screen falls off and we look at January, the overall movement still appears to be to the downside. Again, highs not getting higher and lows getting lower over time. Inventories showed increases across the board this week with distillates leading the charge with a huge 5.2 million barrel jump. Demand figures showed drops in both gas and distillates and again diesel down almost 18% compared to last year. (Although, you wouldn’t know it judging by the endless Fed Ex and Amazon trucks showing up at my door).
Keeping pricing elevated has been nervousness around what will come out of todays OPEC+ meeting. Saudi Arabia has been pushing others for more cuts to support pricing as it appears to be tired of doing it alone. Other members are not too sure if the timing is right at this point. As you tear your World Famous Dennis K. Burke Calendar to the last page, it’s a stark reminder that winter is here. Proper winterization of diesel is vital to keeping your fleet running. We pride ourselves in being specialists in this area and are always willing to lend a voice for your area and what products are available. We have seen relatively mild temps the last few winters but that doesn’t mean we should be lackadaisical about what’s ahead. DKB is well supplied with all products to make sure your fleet is operational all season. If you'd like to set up a call or meeting to discuss what makes sense for your company, schedule the best time for you here: Schedule a Meeting