Honesty and Integrity in all Dealings is not just a tag line for Dennis K. Burke, Inc, it is one of our Core Values as an Organization. In a world that has become more and more competitive and polarizing, it is good to know that a true business relationships can still exist. We strive to be transparent to our many Customers and non-Customer alike. One of my weekly calls is from someone who is not even a Customer, but he is just simply looking for a new perspective or answer on a problem. Which ties into another Core Value, a Commitment to Customer Service Excellence. In my mind, a Customer is not defined as someone with an open account at DKB, it is more of anyone that I can assist or help out, in this often times crazy business. (many of you have received a note from me with an introduction to someone who you can help out) Partly the reason for these updates is letting you know what is happening, insight in to what may be coming, and keeping an open line of communication.
At this time last week we thought we had a nice correction going on with diesel futures. However, with rising tensions abroad, we are right back to where we were a week ago. It is getting increasingly difficult to even sort out the players in the Middle East conflict, which has added to the overall risk premium in the fuel market. At home, a cold snap and torrential rains has limited refiners operating capacity of late, they are down about 5% from last year. This was evident in the inventory report that showed increases in Crude and decreases in finished products. Total gas and diesel demand is still about 1.5% lower than last year at this time. Look to be stuck in this range for the next week or two as refiners come back on line and demand starts to pick up.