Will Oil Reach $140? Goldman says yes

admin News

June 8, 2022 Noah Young Oil prices are rising this morning as summer gasoline prices continue to bode ill for consumers. In many parts of the United States, gasoline prices are well above $5/gallon as reported in Monday’s edition of FUELSNews Daily. With prices continuing their trend upward, many are saying that oil will reach a $150/bbl mark. This week …

No Stopping The Oil Rally?

admin News

Looking back at this past week, the upward rally for oil prices has been relentless despite some bearish news this week. Although some days have begun lower, prices have risen the past three straight trading sessions – and today looks to continue that streak. As always, there are a few factors on both sides impacting the fuel market, so let’s …

Where Did All the Fuel Go?

admin News

Diesel inventories have fallen to historic lows, and this week’s meager gain in diesel stocks doesn’t undo months of declining supplies. Fuel prices are at historic levels, trading at hefty premiums above already elevated crude costs. Those premiums, called “crack spreads”, should incentivize refiners to produce more fuel. Indeed, refiners have been producing at over 90% utilization over the past …

Diesel Supplies Rise, but JP Morgan Now Forecasting $6 Gasoline

admin News

This morning the EIA reported a meager 1.2-MMbbl build for diesel inventories – a small victory given historically low diesel inventories. Oil markets appear to be celebrating the news this morning, with fuel prices down roughly 15 cents following the morning report. Both gasoline and diesel have moved away from the $4/gal threshold, though a quick spike to $4 remains …

Michigan and small businesses can’t afford a Line 5 shutdown

admin News

We have record high energy prices and somehow there is still a debate about how critical Line 5 and the Great Lakes Tunnel are for our energy future, and our economy. The reality is that there is no question: we need Line 5. Michiganders can’t afford a shutdown of this critical energy infrastructure that we all rely on every day. …

Fuel Pump

Michigan ranked 10th in nation for highest gas tax

admin News

Only nine other states outrank Michigan when it comes to dinging drivers at the pump with gas taxes and fees, according to a recent study released by the Tax Foundation. “Michigan has high fuel taxes because it is a rare state that levies sales taxes and extra per-gallon taxes on gasoline sales,” Mackinac Center for Public Policy Director of Economic …

Moisture Related Fuel Issues

Hirschman Oil Supply News

As we head into the Spring season, extra attention should be given to potential moisture-related issues that might arise as a result of the unusual winter that we had this year. So far, many regions throughout the US have experienced huge temperature swings in 2020 that could contribute to an increase in moisture-related issues. Tank maintenance programs that use a …

Importance of Fuel Testing

Hirschman Oil Supply News

A strategic plan and proactive fuel testing are a great way to ensure our customers experience success even in the harshest of conditions.  Winter testing is essential to understand what types of fuels we are working with and how they are reacting to additives. Some fuels have higher cloud points, and all fuels react differently to additives.  Year-round testing allows …

Tank Maintenance and Microbial Growth

Hirschman Oil Supply News

A well designed and executed tank maintenance program will help avoid issues caused by excessive buildup of moisture or water and prevent microbial born infestations. Modern fuels are more susceptible than ever to microbial growth (commonly called “bugs” or “algae”). Moisture-related issues that can lead to many other problems such as poor fuel quality, damage to storage tanks, and general …