As 2024 comes to a close, we’re pleased to report continued stability in the energy markets. Crude oil is trading just above $70 per barrel, marking the low end of the year’s range. This trend has kept distillate and gasoline prices similarly restrained, while propane prices remain steady, as they have been for several years. Inventory levels across all products are strong, ensuring a reliable supply as we head into the new year.
Looking ahead to 2025, there are some factors to watch. China’s plans to stimulate its economy could drive global demand, while moderate economic growth is anticipated in the US and worldwide. Increased demand could lead to slight upward pressure on pricing. Meanwhile, geopolitical uncertainties in the Middle East and Eastern Europe pose potential risks to supply stability. However, OPEC+ production limits are likely to be counterbalanced by rising US output. In Canada, fluctuations in the Canadian dollar may influence retail fuel prices.
Despite these dynamics, we expect overall stability in supply and pricing for the coming year.
At Core Fuels, we encourage all our customers to prioritize safety during the winter months:
- Keep fuel tanks full – This prevents condensation build-up and ensures reliability on cold winter roads.
- Check your vehicle – Top up fluids and maintain proper tire pressure for safe and efficient travel.
Thank you for trusting us with your energy needs. Wishing you a warm, safe winter and a Happy New Year!