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ATHS Board Member at Large
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| Keep the politics out of this thread!!!!! or else,,, or else I'll delete it!!!
Eddy Lucast ATHS Online Division Charter Member
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ATHS Member
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The next thing that will happen is due to the large amount of inventory stock production will be scaled back in order to halt any price reductions remember production costs are reflected by purchase costs of crude as well. Speculators managed to run the price up falsely manytimes in the past. Oil producers reduce the amount that is pulled from the ground when ever there is a glut in reserve. After all if there is no place to store the crude they cannot produce any and the price goes down while the costs to explore for more goes up.
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I wish that the price at the pump reflected the bloated inventory. Diesel around here is staying close to the price of regular gasoline. It actually fell below the price of gas in late winter but that didn't last long. Diesel is selling around $2.44 a gallon. The lowest I saw it was $1.89 late last winter.
1959 White 4400TD, 1957 White WC22PLT
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ATHS Board Member at Large
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Last Login: Today @ 1:35:47 PM
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| July 1 (Bloomberg) -- Supplies of diesel, the fuel that powers heavy trucks used to move goods across the U.S., rose to the highest in at least 16 years this month, as manufacturing inventories climbed, signaling a need for fewer deliveries. The CHART OF THE DAY shows U.S. diesel stockpiles rose 28 percent in the past six months, tracking an increase in the ratio of manufacturers’ inventories to sales. “Inventories are bloated,” said Tavio Headley, an economist with the American Trucking Associations in Arlington, Virginia. “Businesses are not taking many new deliveries, and that has a huge effect on tonnage volumes. The significant drop in tonnage volumes is also having a huge impact on domestic diesel demand.” Diesel supplies rose 2.18 million barrels, or 2 percent, to 111.6 million barrels in the week ended June 19, according to the Energy Department. That’s the highest level in data going back to 1993. Manufacturers’ inventory-to-sales ratio rose to 1.45 in April from 1.21 in July 2008, according to the U.S. Census Bureau. The ATA’s For-Hire Truck Tonnage Index contracted 11 percent in May from a year earlier. That’s a “historically large” decline, according to a report last week from the group, the largest U.S. trade association for the trucking industry. Diesel fuel for delivery at New York Harbor fell 56 percent in the year ending in May, to $1.6857 a gallon, according to data compiled by Bloomberg. It rose 0.54 cent, or 0.3 percent, yesterday to $1.8352 a gallon.
Eddy Lucast ATHS Online Division Charter Member
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