Recent world events have triggered a price war over oil. As a result, this is the perfect time to take advantage of lower prices and stock up on diesel fuel and gasoline. Here’s what you should know about this price war and why it's important to act quickly to enjoy low costs.
Why Prices Are Dropping
Saudi Arabia and Russia are the world's two largest exporters of oil. In 2016, the two countries came together to form an alliance, in which they would manage their combined oil supplies and sales.
In recent weeks, differences emerged between each country over the most effective oversight methods, and Russia threatened to leave the alliance. Saudi Arabia responded by aiming for a greater share of the market, lowering oil prices by as much as four to seven dollars per barrel for preferred customers.
The coronavirus pandemic has also played a role in the price drop. The illness has brought modern life to a standstill across the world, halting production, travel, and other oil-consuming activities in the hardest hit countries.
Why You Should Act Quickly
By their very nature, oil markets can be unstable. They’re significantly affected by both world events and internal management, and either of these factors can change substantially from one day to the next.
As the uncertainty surrounding the Saudi-Russian alliance and the coronavirus pandemic unfolds, now is the time to take advantage of lower prices. Unstable markets offer no guarantee that prices will remain this low. Reduced costs mean you can stock up on diesel fuel and gasoline and have ready supplies on hand for the future.
When you're ready to replenish your oil and gasoline resources, Bradigan's Incorporated is here to help. Since 1952, they’ve been serving customers throughout the Armstrong County, PA, area. They provide quality petroleum products and services, including oil and fuel delivery and lubricants, as well as HVAC installation, repairs, and maintenance. Call (724) 548-7654 to schedule your next delivery or visit their website to view their products.