Metro Fuel sees negative $16,444 in EBITDA for August, zero net sales

By Caroline Salls

Pittsburgh, Sept. 23 – Metro Fuel Oil Corp. posted negative $16,444 of EBITDA for August on zero net petroleum sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Eastern District of New York.

In comparison, Metro Fuel reported negative $780 of EBITDA for July, also on zero net petroleum sales.

The net loss for August was $111,642, narrowing from a $134,249 July net loss.

The company also reported $7.56 million in cash and money market funds as of Aug. 31, down slightly from $7.57 million at the end of July.

Metro Fuel is a Brooklyn, N.Y.-based energy company that supplies bioheat, biodiesel, heating oil, central air conditioning units, ultra low sulfur diesel fuel, natural gas and gasoline throughout the New York City metropolitan area and Long Island. The company filed for bankruptcy on Sept. 27, 2012 under Chapter 11 case number 12-46913.

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