Fueling Strategy: Please continue keeping your tanks topped today, tonight before 23:00 CST refuel, Wednesday prices will increase another 15 cents, Currently we’re projecting Thursday’s increase could be over 50 cents based on an announcement that the US will stop all imports of Russian oil. As we see a more detailed plan for refilling these import barrels things should begin to settle down. As long as we see Putin’s troops march across Ukraine with no resistance commodities will remain very volatile. Talk with no action appears to benefit Russian.
NMEX Crude $123.70 UP $4.3000
NYMEX ULSD $4.4373 UP $0.5158
NYMEX Gas $3.6826 UP $0.1105
NEWS
Oil rallied higher after President Joe Biden announced the U.S. would ban imports of Russian energy, while the U.K. said it would phase out Russian products by the end of this year.
West Texas Intermediate gained 3.6% to settle over $123 a barrel while Brent added 3.9%. The U.S. announced a ban of Russian fossil fuels on Tuesday. The U.K. said it phased out all imports of Russian oil. The country will continue to allow natural gas imports from Russia. So far, they are the only two countries to impose an outright ban. Europe is likely to face the brunt of the current commodity crisis, said Goldman Sachs analysts Jeff Currie in a report, with the Russian crisis threatening a 1970-s style energy shock.
We highly recommend the following:
* Shop the street prices against the wholesale discount locations.
*Meaning Check your discount prices, then compare to the smaller independent stops
close to the large chains (Historically, small locations take longer to change their
posted prices)
* With quick changing prices ALWAYS question prices that are, for example, $.50 cents lower – The ole say, “if it’s too good to be true it’s probably not an accurate prices”
* When possible, Try to conserve fuel by lowering your speed, more speed adds more resistance meaning lower MPG’S & THE zero gained idling – shut the truck off as much as you can to conserve your rolling inventories.
* Use the Fuelbook App alot – the wholesale prices are changing rapidly so refresh the app (drag down the page to refresh) each time you use it to get the real time prices.
Regarding new Fuelbook App – You MUST allow the App to know your actual location – if you’ve block this or if it’s NOT turned on while your using the App you NOT get the discount prices. Two ways to manage this: 1) Always on, or 2) Only while your using the App.
Have a Great Day,
Loren R Bailey, President
Office: 479-846-2761
Cell: 479-790-5581
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“To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity.”
