Drop in Heating and Stove Oils Coming...

Just to let you all know that I have the numbers that show for interruption of heating and stove oil pricing here in Newfoundland and Labrador.

Heating and stove oil prices should drop as of Tuesday morning,September 05/06 by some 2.59 cents a litre. If present spot pricing continues, we may even see another slight downwards move in pricing come the 15th.

While not a big lot, this drop comes at the end of the summer driving season when, traditionally, we see prices drop back at the start of the summer season. That didn't happen until today.

Too many international factors exist that are not allowing me to change my forcast for almost 90 cents a litre at peak this coming winter. Factors like continuing Middle East unrest, the Iraq war, Nigeria and the possibility that Iran could use oil as an economic weapon in it's quest to continue with it's nuclear program all are making for an uncertain market.

What may help me change my mind?

A drop in distillate demand like diesels because of an economic slowdown, drop in jet fuel demand or excellent builds in heating oil inventories. Maybe even a little devine intervention here?

It's awfully late for the drop to happen as it is but, we'll take it.

Regards,

George