This could get interesting...
Gasoline to drop...Again?...
Call it what you will, but the fact that U.S interest rates are on the rise just might be of benefit to consumers here in Newfoundland and Labrador this week and possibly other gasoline users in other provinces.
U.S interest rates are rising because demand for some consumables is dropping. If that happens, as in all likelihood they are, then it may be a sign that inflation is increasing. If that is so, then watchers are predicting a drop in demand of petroleum products.
Of course, a good build in gasoline inventories this week also did its little part in bringing this about.
So far, with five out of a possible seven days data available, it looks like Newfoundland and Labrador consumers are looking at a possible drop at the pumps of a nickel. Could be more than that if Monday and Tuesdays' trading days also figure lower.
Be warned of a possible price drop this week...That's a change isn't it?...
Go light on the liquid gold for now. I'll have more in a release sometime on Tuesday to all the media in our neck of the woods.