Nationwide prices for diesel fuel remain near $4.00 per gallon as outside factors continue to keep fuel prices on their toes. With U.S. commercial crude inventories at record levels, you would typically expect large declines in diesel fuel and gas prices.
However, Ukraine certainly has kept both crude oil and diesel fuel higher at truck stops than what would be expected given the inventory levels. How is Ukraine effecting the oil market?
With Russia as the number 2 exporter of crude oil and pressing down on Ukraine, many feel stronger sanctions will be brought against Russia. If those sanctions limit the amount of crude oil in the market, diesel fuel and gas prices will surely raise.
There is also uncertainly about Libya because protestors have shut down oilfields in the central eastern region. Libya has not been contributing much crude oil lately but any tilting of the balance of fuel will cause investors to get worried.
For more information on how to help your diesel fuel program call 267-482-6155 or email gsokolis@sokolisgroup.com.
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