Forum Discussion
NewsW
Nov 29, 2012Explorer
TugCE wrote:NewsW wrote:
With the price of regular diesel plunging and likely to be stable for decades, who needs it?
I'm not sure where you live but the price of Diesel is going up not plunging as you say.
Normal seasonal uptick in fuel oil price.
The trend line, as seen here, is down:
Fuel oil price.
The strong uptick in fuel oil prices in November just didn't happen.
Meanwhile, cheap crude is flooding the midwest.
You are not seeing the discount because refiners are making good money shipping finished product (diesel) to Europe, playing the spread between Brent and West Texas Intermediate.
If the Iranian embargo is not there, Brent price would have equalized with West Texas by now.
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