Economist Chris Angle and pump industry expert Tom Angle provide a look at the road ahead.
Pump Market Analysis
The United States Bureau of Labor Statistics reported the Consumer Price Index for All Urban Consumers (CPI-U) rose by 0.2% in September.
In August, U.S. import prices dropped by 0.3%, the largest decline since December 2023.
In July, U.S. import prices increased by 0.1%, following no change in June, driven by rises in both fuel and nonfuel import prices.
The Producer Price Index (PPI) for final demand rose 0.2% in June, following no change in May and a 0.5% increase in April.
U.S. import prices fell by 0.4%, following a 0.9% increase in April, driven by decreases in both fuel and nonfuel import prices.
Production cuts are expected to keep global oil production below global oil consumption next year.
JKC pump stock index, payrolls & unemployment rates increase.
The Customers’ Inventories Index dropped into “too low” territory (46.2% versus 51.4%), a positive sign for future production.
The employment index fell for the third straight month to 46.9%, its lowest reading since 2020.
Markets were volatile due to fears of continued interest rate hikes.
The S&P 500 posted its best January since 2019.
The markets finished the year with their worst results since 2008.
Any unplanned supply disruption has the potential to increase oil prices quickly and significantly.
Exploration activity has been up and down this year.
The employment index fell back into contraction territory.
Amid concerns about slower growth for the global economy, the Export Orders Index slipped into contraction territory.
Government spending declined for a third straight quarter.
Major stock indexes have fallen in the last year.
Customer inventories had its largest decline in six months.
