Falling Feels Like Flying Until You Hit the Ground

 It seems like every time we get some momentum to push pricing lower, a flare up sets us back to the beginning. I guess it’s true “falling feels like flying until you hit the ground”. As Russia was announcing they would loosen a diesel export ban, Houthi militants attacked a Saudi airport sending a message of a widening conflict that could flank middle east shipping lanes from the Red Sea. Add to that as of last night, with Ukraine lifting their energy sector cease fire that lasted all of 3 days, will likely limit what Russia can actually export. At home, still little clarity on the Dyed Diesel Executive Order. The IRS responded by stating on the Federal level, they will not enforce or fine the use of dyed fuel in on road applications. The majority of States, excluding some Midwest high Ag states, have yet to adopt the stance. More importantly, the Treasury has failed to offer guidance on the Federal excise “deferment”. In short, nothing has changed and would strongly recommend to remain status quo on the end user side. Not sure about anyone else, but I never got a letter from the IRS offering help. DKB can offer help, guidance, and clarity as we navigate an ever changing landscape in the fuel and lubricant world.