We start this week with Fuel prices from crude oil up about 8% since last Monday. We all expected that to happen did we? I mean last weeks financial news and news in general was wonderful.
It just goes to show you, how crazy the World Oil market is. This week will test the Oil market a little and see what happens to it. We have big news this week coming out. The U.S. government on the health of 19 big banks on Thursday (let’s hope they don’t have the Swine Flu) and April’s unemployment rate since we are coming of the March unemployment rate the highest in 25 years.
If there are some positives from both of these reports and the stock markets continue to do their slow but steady climb, we could see fuel grab hold and run up into the high 50’s.
The other side of things of coarse is we have the Miss Piggy Flu out there that everyone says is under control but what would you expect people to say we have a massive outbreak drive your SUV’s (forgot you got rid of them when oil prices went to $5.00 last summer) OK, drive you hybrids to the hills and hide. Last week this news was pulling the fuel market down early in the week.
It’s strange last I looked we still had barrels and barrels of oil and were over supplied. It’s always nice to have wishful thinking that things are going to get better sooner than later but most believe we still have 6-9 more months before things will turn around. Maybe there is some kind of groundhog in Pennsylvania we can pull out of the ground that will give us a more accurate prediction.
In the meantime, look towards our advise and give us a call 267-482-6155. The Sokolis’s fuel management and fuel consulting programs have helped many of the leading companies in the country with how they manage fuel supply. We can help you too. www.sokolisgroup.com.
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