The fuel industry is in constant flux, and we always keep an eye on any developments that can benefit our clients. Here, we’ll share findings, some research, and our opinions on a wide range of topics related to our industry.

The Core Fuels Market Outlook For March, 2023

The insolvency of several American and European banks has scared investors and put downward pressure on the energy markets. Speculation over a slowing economy is what drove the markets down. Consequently, energy prices have risen. WTI crude oil is back into the mid $70’s after falling below $70 mid-month. There was a large draw-down on North American reserves that aided the price increase, as well. Gasoline inventories have decreased, but, surprisingly, distillate inventories have been building. This has stabilized pricing on that front.

Propane inventories remain substantially higher than the 5 year average. Increase in demand over the last month has created an increased cost, but all indications are that pricing should flatten out into the spring months.

April 1 marks another increase in carbon tax. Hoewver, Bill 234 is progressing and may exempt any agriculture related products from carbon tax. We’ll update on any further developments.

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