Inventories and Inflation
Fuel pricing had a nice correction going the last couple of weeks, both gasoline and diesel were down about $.15. That was put on pause yesterday as the focus shifted towards inventories and inflation. Fear not, one bad day isn’t a trend. Crude inventories showed sharp declines in yesterdays report versus both last week and last year, rattling the bulls to push all products higher on the session. Still, when you look deeper, demand for finished products is still off to last year. Gasoline is down about 1% and Distillates are down over 2%. Hints that JUNE inflation numbers were stronger than expected might put added pressure on future pricing. We may not see an interest rate cut until late September or early October, which would likely push pricing higher. It’s go time for most of us right now, know that making your days easier is what we strive to do. From delivering multiple products on the same truck, to free tank monitoring to an online portal, we are here for you. Please do not hesitate to reach out if there is something we can do to make your day better.