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Tuesday, August 21, 2007

Hurricane Dean spares the Gulf-So far
News release
St. John's, NL, August 21, 2007- Hurricane Dean has spared consumers in most areas the inconvenience of skyrocketting prices as it hit the Yucatan Peninsula earlier this morning. Early last week, projections from the National Hurricane center showed Dean making a direct track to the Gulf of Mexico and its crude production and refining facilities.
"We're lucky in some aspects here that Dean managed to turn to a more direct westerly direction rather than hit the chief production and refining centers on the Texas-Louisianna border. Last week showed a different scenario when Dean was foreecast to throw itself on the US gulf coast," said George Murphy, group researcher and member of the Consumer Group for Fair Gas Prices.
"We expected that spot pricing would have risen to unbearable levels as they did with Katrina had the hurricane hit directly in the center of the gulf coast but that didn't happen. While some production on the Mexico side of the Gulf may occur, that shouldn't do anything major to gasoline pricing. We may likely see an increase to crude as overall Mexican production will be affected but that shouldn't bight into consumers pocketbooks.
"In Newfoundland and Labrador where pricing is regulated, numbers show only a 3 cent a litre allowable at the pump level and that is expected to moderate somewhat now that Dean has done a complete swing-around in direction.Already, spots have begun to decline again and the likelihood of any "early interruption" in pricing has passed with that. Four cents is needed for any interruption in pricing to occur and that's not going to happen now, according to the numbers I have.
"We're all just praying now that there is going to be no loss of life in Mexico as this brutal storm passes over the Yucatan Peninsula. Dean is forecast to regain some strength as it re-enters the Gulf sometime late today. Crude oil production has been halted at Cantarell, the worlds third largest field in the world as a result of Dean's track and some 14,000 oil workers have been evacuated."
For more information, contact;
George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices
(709)685-6186 cellular

Tuesday, August 14, 2007

Something wicked this trading day comes
Guess what?..
While you slept last night, a concerted effort to increase spot pricing for gasoline occurred in the markets. Gasoline spots increased by more than 20 cents a US gallon.
That's about 5.5 cents a litre to Canadian consumers translated at the pumps.
Yes...Hurricane Syndrome has set in and there's not a darn thing to be done about it on this side of the border.
Consumers should now be aware that we have entered that "revered" time of the year where corporate rape of consumers occurs on a whim. Data from the National Hurricane Center in the US indicates today that tropical depression number four, soon to be named Dean if it reaches hurricane status, will likely become a tropical storm later today.
Consumers would be advised to keep the tanks filed up but practise conservation methods while these storms are around. When an actual storm is more than likely to damage any oil production or refining facility, the consumer is better off waiting the economic storm out and go with what they already have in the tank. Hoarding the stuff only caused undue grief to other consumers and sucessfully drives up the price of gasoline and someone besides youmakes a fortune.
So, while these storms are around this hurricane season, take some of this practcal advice and help take a financial bite out of the people who like to take a financial bite out of you. If a storm hits, you should have had full tanks already. Buying after the storm hits only puts bigger dollars out in the other fella's pockets.
George Murphy