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Lock in Your FuelPrices

If you hadlocked in yourfuel prices thismorning, thesecould be your

fixed bulk prices:* 03 mos. Unl $3.0541 Dsl $3.0168 06 mos. Unl $2.9698 Dsl $3.0138 12 mos. Unl $2.8382 Dsl $2.9980 We can also help you fix yourretail prices. For more information on locking infuel prices for your company, callRoger Murray at 800-334-7548. *These are representative basecommodity costs for center U.S.delivery, excluding taxes, deliveryand execution charges, andrequire execution of a contractand confirmation.

Weather NewsUpdate

March 20, 2013

Founded in 1985 by LiviaWhisenhunt, PS EnergyGroup, Inc. is aprivately-ownedAtlanta-based company. Asone of the nation's topdiversity-owned businesses,PS Energy providestransportation fuels,emergency fueling, and fleetmanagement services,including etrac™, a wireless

telematics solution that helps improve productivity,profitability, and the quality of the environment throughbetter asset monitoring and vehicle tracking.

US Oil Futures

Crude-Oil Futures Trim Gains as EIAData Show Demand Weakness

--U.S. implied oil use dropsto lowest level since Jan. 4 --Surprise decline in crudestocks comes on WestCoast slide--Refiner demand for crudeoil rose, but gain camefrom lowest level of crude

runs in two years NEW YORK--Crude-oil futures prices trimmed earliergains Wednesday, after U.S. weekly data showedimplied oil demand fell last week to its lowest levelsince Jan. 4. The Energy Information Administration reported U.S.crude-oil stocks fell by a surprise 1.3 million barrels in

PS Energy Services

Fleet Fuel Card ProgramPS Energy has formedpartnerships with Wright Express,Voyager, Comdata, andFleetCor - first tier card vendorsaccepted at over 99% of allfueling locations nationwide.These fleet fueling cards allow forcontrol at the card level, as wellas the account level, giving fleetmanagers the ability to manageretail purchases more efficiently.

Emergency FuelingPS Energy's Emergency FuelingProgram provides fuelingservices nationwide to industryand utilities, in times of crisis orwhenever natural disasters strike. To learn more about our threedistinct levels of EmergencyFueling Programs, contact:

Roger Murray770-350-3000

Where's spring? 2nd most extreme Marchjet stream pattern onrecord extends winter

Figure 1. The jet stream is takinga large dip to the south over theEastern U.S., allowing cold air tospill southwards and bringwinter-like conditions.

Punxatawney Phil got it waywrong. Pennsylvania's famousprognosticating rodent predictedjust three more weeks of winterback on February 2. It's the firstday of spring, but winter remainsfirmly entrenched over the easternhalf of the U.S., wheretemperatures of 5 - 25°F belowaverage have been the rule allweek. The culprit is the jet stream,which has taken on an unusuallycontorted shape that is allowingcold air to spill down over theEastern U.S. and WesternEurope, but bringing near-recordwarmth to portions of Greenland.One measure of how contortedthe jet stream has become is bymeasuring the difference inpressure between the IcelandicLow and the Azores High. Thereare two indices used to dothis--one called the ArcticOscillation (AO), which treats theflow over the entire NorthernHemisphere, and another calledthe North Atlantic Oscillation(NAO), which is more focused onthe North Atlantic. The two areclosely related about 90% of thetime. When these indices arestrongly negative, the pressuredifference between the IcelandicLow and the Azores High is low.This results in a weaker jetstream, allowing it to take large,

the week ended March 15, against analystsexpectations for a rise of 1.7 million barrels. Still,traders noted the bulk of the drop occurred in theisolated West Coast market, which isn't indicative ofthe national trend. Ordinarily, a big swing in crude inventories would sendprices higher, but traders had strong reason to shakeoff the first drop in nationwide stocks after a gain ofnearly 24 million barrels in the previous nine weeks. At382.7 million barrels, crude stocks now are 12%, or 41million barrels, above the five-year average, thebiggest surplus since Jan. 13. Refiner demand for crude oil rose 520,000 barrels aday to a two-month high, but the gain came from thelowest level of crude runs in two years. The biggest concern in the EIA data was a signdemand in the world's biggest oil consumer "is prettyweak," said Carl Larry, president of Oil Outlooks andOpinions. "It hasn't really jumped at all, and that's hardto justify when we've been seeing some strongereconomic numbers." Implied U.S. oil demand averaged 17.765 millionbarrels a day, down 4.5%, or 832,000 barrels a day,from a week earlier, and the lowest since Jan. 4.Demand for gasoline, the most widely used petroleumproducts in the nation, fell 303,000 barrels a day in theweek, to a two-month low of 8.324 million barrels aday. Light, sweet crude oil for April delivery on the NewYork Mercantile Exchange was trading seven centshigher, at $92.30 a barrel, ahead of expiration at thesettlement and well below the intraday high of $93.11.The May contract was eight cents higher, at $92.60 abarrel, after hitting $93.50 earlier. ICE North Sea Brent crude oil for May delivery was up47 cents, at $107.92 a barrel. EIA said gasoline stocks fell 1.476 million barrels,against expectations of a drop of two million barrels.April-delivery reformulated gasoline futures weretrading 0.31 cent lower, at $3.042 a gallon. April heating oil was 1.02 cents higher, at $2.8743 agallon. EIA said distillate stocks (heating oil/diesel) fell672,000 barrels, near the expected drop of 900,000barrels. --Write to David Bird at david.bird@dowjones.com Copyright (c) 2013 Dow Jones & Company, Inc.

US Oil Inventories

roger.murray@psenergy.com

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meandering loops, letting cold airto spill far to the south from theArctic into the mid-latitudes. TheAO index hit -5.2 today (March20). This is the second mostextreme March value of the indexsince record keeping began in1948; only an AO value of -6.3 inMarch 1970 was more extreme.We've had some wildly variable jetstream patterns in recent years inthe Northern Hemisphere. Justlast year, we had the oppositeextreme in March, when ourridiculous "Summer in March"heat wave brought a week oftemperatures in the 80s to theMidwest U.S. The first day ofspring today in Chicago, IL isexpected to have a hightemperature of just 25°F--a 60degree difference from last year's

high of 85°F on March 20! Unusual winter jetstream patterns tied toArctic sea ice loss Unusual jet stream contortions inwinter have become increasinglycommon in recent years,according to a March 2013 paperby Tanget al., "Cold winter extremes innorthern continents linked toArctic sea ice loss". They found amathematical relationshipbetween wintertime Arctic sea iceloss and the increase in unusualjet stream patterns capable ofbringing cold, snowy weather tothe Eastern U.S., WesternEurope, and East Asia, typical ofwhat one sees during a stronglynegative Arctic Oscillation. Theytheorized that sea ice loss in theArctic promotes moreevaporation, resulting in earliersnowfall in Siberia and otherArctic lands. The earlier snowinsulates the soil, allowing theland to cool more rapidly. Thisresults in a southwards shift of thejet stream and builds higheratmospheric pressures farther tothe south, which increases theodds of cold spells and blockinghigh pressure systems that cancause extended periods ofunusually cold and snowy weatherin the mid-latitudes. by Dr. Jeff Masters,

U.S. Oil Inventories Fall By 1.3Million Barrels

NEW YORK -- U.S. crude inventories fell last week,surprising analysts who had expected inventorieswould rise, according to data released Wednesday bythe U.S. Department of Energy. Crude oil stockpiles fell by 1.3 million barrels to 382.7million barrels, compared with an average surveyestimate calling for a 1.7-million-barrel increase. TheAmerican Petroleum Institute, an industry group,reported a 400,000-barrel draw in its weekly reportreleased late Tuesday. Crude oil held to gains following the report, with futuresfor April delivery recently trading 44 cents higher at$92.60 a barrel on the New York Mercantile Exchange. Gasoline stockpiles fell 1.5 million barrels to 222.8million barrels, the department's Energy InformationAdministration said in its weekly report, compared witha 2-million-barrel drop forecast in a Dow JonesNewswires survey of analysts. Distillate stocks, which include heating oil and dieselfuel, fell 700,000 barrels to 119.8 million barrels,compared with analysts' forecast of a 900,000-barreldrop. Refining capacity utilization rose 2.5 percentage pointsto 83.5%. Analysts had expected a0.1-percentage-point increase. API pegged refinery utilization at 82.9% last week, upfrom 80.5%. The industry group reported stockpiles ofgasoline rose by 300,000 barrels and distillates fell by1.3 million barrels. U.S. Oil Inventories:For week ended March 15: Crude Distillates Gasoline Refinery UseEIA data: -1.3 -0.7 -1.5 +2.5Forecast: +1.7 -0.9 -2.0 +0.1 Figures in millions of barrels, except for refining use,which is reported in percentage points. Forecasts arethe average of expectations in a Dow JonesNewswires survey of analysts earlier in the week. Write to Jerry A. DiColo atjerry.dicolo@dowjones.comCopyright (c) 2013 Dow Jones & Company, Inc.

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