Fuel Monitoring Or Fuel Inventory? That is the Inquiry

As we come close to the Thanksgiving season and Black Friday, it's time for us to take a look at where the fuel market is and how it might affect your gas management program. There are clearly combined check in the fuel market. Most watch the indicators as positives towards stagnant fleet fuel rates or potentially reduced fuel costs. Let's take a look at what is going on with fuel inventory management and bulk fuel delivery across the world:

- UNITED STATE supplies for gas, home heating oil (diesel fuel for the fleet management industry) and also petroleum are still all close to record high supply levels. Some weeks we see these fuel stocks dip, and afterwards the really next week they come racing back. One point everybody should have the ability to settle on is the fact that gas stocks have actually been high and do not appear like they will certainly collapse anytime soon.

- The UNITED STATE dollar is primarily at around a 15-month reduced compared to various other significant globe currencies. That is not an advantage considering that fuel is sold U.S. bucks. This permits Yens and Euros to acquire even more fuel with less and gives a safe harbor for some investors to place some money away as an all-natural bush versus the U.S. dollar.

- Drifting storage space, or crude oil being in ships out at sea, has seen its price rise to over 90.3 million barrels of petroleum. This exceeds the everyday globe use and is the very first time in recent years that there is more oil drifting than is made use of every day.

- Unemployment prices struck 10.2 percent, the first time its reached double digits in 26 years. That brings you back to the early 1980s and the Reagan Administration's very first term.

- Temporary workers enhanced to 44,000, revealing indications that companies have actually pushed the envelope with the personnel they have and go to optimum production. If background is true, temporary workers in these sorts of economic climates turn into new full-time employees. Certainly 44,000 are not going to touch the 10.2 percent quite, yet it is a favorable indication.

- China's fuel imports go to their second highest degree of petroleum in October.

- The International Energy Agency has actually anticipated that gas demand in the fourth quarter will certainly see the initial rise in over a year. Their projection is up slightly to 86.2 million barrels daily in globe oil usage.

It's a variety. The underlying tale to every one of this in my mind is that petroleum costs are currently over priced by at the very least $15 a barrel. There utilized to be an expression called, "war costs" and it still obtains used when a brand-new battle is about to burst out. I think this gas market is characterized by an "I'm afraid to be short costs" issue. Individuals are worrying that since the fuel market reacts or over responds to everything in the news, things can skyrocket on them as well as pass them by.

Right here is something to think of over the next couple of weeks. To have a great gas monitoring strategy, it starts with just a strategy. No one does anything real well without having a strategy, especially in something as crazy as gas as well as something as essential to your fleet management. Begin your gas intending now; make sure your fleet fuel card programs, your mass gas purchasing programs, fleet fuel bookkeeping program, fuel insurance (risk monitoring programs) are all in area. If you do these points, your fuel monitoring and also fuel planning for 2010 will certainly lead the majority of companies.