M.G. Oil Company

08/31/2026

Chevron stating current with OEM spec's and meeting new and challenging requirements with Axle Lubrication!

Commercial vehicle technology continues to evolve, and lubrication technology must continue to evolve with it. Fleets are managing higher utilization, more sophisticated drivetrains, changing OEM guidance, and growing expectations for reliable and efficient operation. These changes are making axle l...

07/20/2026

Markets hit a two-month high in gas and diesel last week as well as a 6-week high in crude before settling down this morning. Price strength is riding the waves of tighter supplies resulting from the conflicts surrounding the Strait of Hormuz. We have some news helping keep prices in check, such as slower economic growth, increased oil rig counts, and inflation posing risks to delayed interest rate decreases.

Crude is at $82.29
Gas is at $3.3907
Diesel is at $4.0621

07/11/2026

The Customer of the Month for July is M.G. Oil!!

Founded by Marlyn Erickson in 1976 in Rapid City, SD, M.G. Oil Company now runs over 90 operations in South Dakota and Wyoming. Thank you for being a customer of Floyd's Truck Center and trusting us with your trucks!

07/06/2026

News today was that petroleum has erased all gains that were related to the Iranian conflict. Flowing of ships has resumed through the Strait of Hormuz, and OPEC is increasing output. If this news continues, we may be looking at heading back in the direction of an over-supplied market that now has shipping back in place to see the impact of an over-supplied market. Deliveries to the refineries and their capacity to refine the deliveries will still have a lag to market.

Crude is at $68.39
Gas is at $2.9541
Diesel is at $3.2422

07/02/2026

Markets are down this morning following eased tensions with Iran and the re-opening of the Strait of Hormuz. Other factors contributing are: falling US Crude oil exports, increased global production, among other news.

Crude is at $67.18
Gas is down at $2.8835
Diesel is down at $3.1809

06/26/2026

Petroleum for thought....

06/26/2026

The markets have dropped due to the increasing optimism of supply traveling through the Strait of Hormuz. The shipments have reached 80% pre-war levels. We have commented that the world is not under-supplied when it comes to oil, just under-shipped and delivered. If the shipping resumes to normal levels, we will continue to here of a potentially over-supplied market.

Crude is at $69.76
Gas is at $2.9550
HO is at $3.2301

06/23/2026

The markets are down today, following the easing of the conflict with Iran and the US as well as the Strait re-opening for increased output. The US also put a 60 day lift on Iran petroleum bans which created additional bearish movement.

Crude is at $73.36
Gas is at $2.9720
HO is at $3.0681

06/22/2026

As we come off the weekend, we are not seeing any major swing news, and the markets are reflecting that. They are down slightly this morning.

Crude is at $75.77
Gas is at $2.99784
HO is at $3.1334

06/17/2026

The markets seemed to reach a plateau after several days of decline which may be a signal that the markets have found their resting spot until further progress is made in the peace deal between the US and Iran or actual relief is felt in the supply of finished products (likely months out). The markets rebounded slightly, with a lift higher this morning.

Crude was up 60 cents at $76.653
Gas was up a penny and a half at $2.8955
Diesel was up 4 cents at $3.2102