Go Time | Fuels Advice Updated

Posted on 08/22/2019 6:34 PM

Go Time | Advice Updated

With this week's penny per gallon increase in propane, we suspect the seasonal low has been confirmed. Book remaining propane needs for harvest and winter and fill on-site storage to capacity at current prices.

Farm Diesel --farm diesel price chart

  • Our regional average farm diesel price fell 3 cents per gallon on the week.
  • Only Minnesota posted a higher weekly price, up 2 cents per gallon on the week.
  • Illinois led declines, falling 11 cents per gallon as Missouri dropped 9 cents.
  • Crude oil and heating oil price action has been very mild lately, allowing farm diesel to slip lower.
  • According to EIA, national distillate stocks firmed 2.6 million gallons; now 7.3 million barrels above the same week last year.

We are 50% filled on Farm Diesel for harvest and advise you be prepared to book remaining needs within the next few weeks. Had our regional average ticked higher this week we would have booked remaining harvest diesel needs, but we will continue to await signals the market has bottomed before issuing fresh advice.propane price chart

Propane --

  • Our regional average propane price firmed a penny per gallon on the week.
  • Wisconsin led gains firming 19 cents as Michigan added 7 and Minnesota firmed 2 cents.
  • According to EIA, national propane stocks firmed 3.987 million gallons; now 21.655 million gallons above the same week last year.

Book remaining propane needs for harvest and winter and fill on-site storage to capacity at current prices.

 

 

 

Fuel
8/5/19
8/12/19
Week-over Change
Current Week
Fuel
Farm Diesel
$2.42
$2.42
-3 cents
$2.39
Farm Diesel
LP
$1.15
$1.15
+1 cent
$1.16
LP

 

 

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