Posted from Roleigh Martins Email List:

>2000-01-21 12:31:02 EST >***SPOT HEATING OIL AND DIESEL HIT ALL TIME HIGHS > It's official. Spot prices for heating oil and diesel that buyers are >paying today in the New York Harbor spot market and at terminals in the >Middle Atlantic and New England have surpassed the previous highs seen only >during the Persian Gulf War. A superheated market this morning shows no signs >of a cool-down with diesel, heating oil, and kerosene now valued more than >50cts gal higher than the going prices less than two weeks ago. > These numbers are changing drastically almost minute-by-minute, but just >after lunchtime, New York heating oil or diesel was valued at $1.25 gal. >That's about a dime higher than where prices peaked during Operation Desert >Shield in the Fall of 1990. Jet fuel prices in New York have hit $1.35 gal >and kerosene is valued at $1.40 gal. Jet fuel numbers haven't yet reached >their all-time high of $1.45 gal reached in October 1990, but the day isn't >over, and traders are raising bid/asked prices in increments of 5-10cts gal. > Northeastern suppliers admit that they are concerned about meeting the >demand of the market over the next 10 days. Colder than normal temperatures >are forecast for the period, and there are widespread outages at terminals >from Newark and Philadelphia north to Portland and Bangor, Maine. Rack >suppliers and heating oil retailers do not believe that any homeowners or >end-users will run out of fuel, but they believe that there could be retail >diesel outages--suppliers are dyeing their diesel so it can be used in the >heating sector. > The northeastern price surge has led to some unbelievable price >discrepancies throughout the country. Whereas diesel costs $1.25-$1.30 gal on >the New England wholesale markets, prices in the Midwest are at less than >80cts gal. Trucking companies taking routes from the southeast or Ohio >Valley to New England may find that truckstop prices 30-40cts gal higher in >the northeast because of the difference in wholesale costs. > - Tom Kloza, tkloza@opisnet.com >

-- lou (lanny1@ix.netcom.com), January 22, 2000