Category: diesel fuel prices

Fuel Flash – February 2020

Oil prices dropped sharply and unexpectedly in two stages during January.  Prices declined by 16% from the start of the year to close January just above $51 per barrel.  The following graph shows the daily price movements over the past three months: The dramatic decline in January followed a tense period in December with rising oil prices.  Near the end of 2019, the US and Iran appeared to be moving toward a major military confrontation following the US’ assassination of

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Fuel Flash – January 2020

Oil prices continued climbing higher throughout December, gaining over 10% to close the month and year at $61 per barrel.  Over the past year, oil increased by more than 33%.  The following graph shows the daily price movements over the past three months: During December, two primary factors caused oil prices to move higher.  The first, during early December, was a surprise announcement from OPEC regarding their agreement to make deeper cuts in production.  The second, near the middle of

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Fuel Flash – December 2019

Oil prices slowly climbed higher throughout November but gave back most of their gains at the end of the month.  Prices opened the month near $54 and closed just over $55 per barrel.  The following graph shows the daily price movements over the past three months: There were no significant developments in November that drove prices gradually higher.  The main reason was attributable to cautious optimism that the US and China would reach a Phase 1 agreement toward resolving their

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Winter Fuel Tips

SOKOLIS GROUP WINTER FUEL TIPS Replace fuel filters at manufacturer recommended intervals.  Particles in the filter make it easier for wax to gel.  Use the highest OEM accepted micron filter possible. Keep your fuel tanks full and free of water.  Cold air on top of warm fuel creates condensation.  This can be reduced by limiting the amount of space in your tanks. Test any bulk tanks for water.  Water freezes faster than the wax in the fuel.  If your fuel

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Fuel Flash – November 2019

Oil prices traded in a very narrow range during most of October following a short period of significant volatility during September.  October’s prices opened and closed the month at just over $54 per barrel.  The following graph shows the daily price movements over the past three months: September’s volatility was caused by an attack on Saudi Arabia’s oil refining facilities during the middle of the month.  Prices spiked immediately following the attack.  However, concerns about supply disruptions in the Middle

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Fuel Flash – October 2019

September had a volatile period for oil prices following a relatively stable stretch for most of August.  The month opened with prices near $55 per barrel but sharply increased to over $62 during mid-September.  Shortly after the spike, prices quickly fell back to the mid-$50’s and remained in that range.  By the end of the month, prices closed just over $54, roughly where the month began.  The following graph shows the daily price movements over the past three months: In

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Fuel Flash – September 2019

August opened with oil prices just over $58 per barrel but they fell sharply during the first week of the month.  By the 7th of the month, prices hit their lowest point at $51 and then started to rebound.  For the remainder of the month, prices traded in a narrow range near $55 which is where the month finally closed.  The following graph shows the daily price movements over the past three months: Within a few days following the start

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Fuel Flash – August 2019

The month of July opened with oil prices approaching $60 per barrel.  By the 10th of the month, prices climbed slightly over $60 and remained at that level for a few days.  However, prices fell back to the mid-$50’s as the second half of the month started.  Prices subsequently traded in a narrow range near $56 during the last 10 days of the month but finally closed the month over $58.  The following graph shows the daily price movements over

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Fuel Flash – July 2019

Oil prices hovered near $53 per barrel for most of June, then quickly increased toward $60 during the last 10 days of the month.  Prices closed the month at over $58 after increasing $5 during late June, or 9%.  Overall, prices are up almost 30% since the start of the year.  The following graph shows the daily price movements over the past three months: The start of June followed a significant decline in oil prices during the last week of

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Fuel Flash – June 2019

Oil prices traded in a narrow range near $62 per barrel for most of May, then quickly fell back to the high-$50’s on May 23rd.  Prices collapsed even further at the end of the month, closing May at $53.50.  Overall, prices fell by 16% during May but are still up by 13% since the start of the year.  The following graph shows the daily price movements over the past three months: Despite ongoing tensions in the Middle East, the stage

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