Wait. Wait. Wasn’t it yesterday that we were talking about too much fuel inventory? Now, a day later there is concerns fuel prices are going to go up because not enough fuel supply. Do these people on Wall Street make this stuff up daily just to get a rise from all of us?
Aren’t we already all crazy the way our fuel cards have been taking a beating over higher diesel fuel prices? We don’t need a story one day on fleet fuel pricing and a different story the next. Can’t we just get some stability?
“I’m not really sure we’ve seen a turnaround yet. Oftentimes when the market sees a lot of liquidation pressure it rebounds when that dissipates,” said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.”Going forward, I think the market has established a bit of a new trading range from $90 to $100 (a barrel for U.S. crude) and it’s trying to find a value here and settle down.”
Let’s talk about tension and what it plays on diesel fuel prices. There is always some kind of tension somewhere in the world that effects oil prices and your fuel saving. So why are we always talking about it. Like this piece I read today.
Tensions in the Middle East rose yesterday and continue to be at alarming levels, as Iran displayed a new air defense system designed to confront American warplanes in case the U.S. decides to attack Iran. With the U.S. and Israel not ruling out any military action against Iran, the new system was displayed yesterday during a military parade commemorating the Iran-Iraq war in the 1980’s.
Additionally, Iran’s Oil Minister announced yesterday oil exports have rebounded after the European oil embargo was adopted in July. However, the Oil Minister failed to release any numbers, while analysts believe Iranian oil exports have fallen by almost 40% since the month of July.
Sure tension in the Middle East might be the worst kind of tension when it comes to fuel savings. Heck for that matter, just having fleet fuel but Saudi Arabia is our friends and they have shown and I believe will continue to support us with plenty of oil.
It’s almost the weekend. Give your fuel management brains a rest.
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