Interrupter criteria met for stove oils
Premier asked to “Expedite” rebate and retrofit programs
News release
St. John’s, NL, November 28, 2007- Numbers are showing that the Petroleum Pricing Office will be forced to bump up pricing to consumers of stove oils and possibly heating oils early Thursday as the price for those important consumer petroleum products continues to rise.
“With six out a possible seven days, I have numbers that warrant a five cent a litre increase on stove oils. Heating oil being also part of the same distillate group will probably see a substantial increase also. Jet fuel and #2 heating oil are blended during the winter months as jet is used as an antifreeze agent. Jet fuel has traded very high, much higher than stove oils the past two weeks or so. It’s probably inevitable that heating oils will also take a shot upwards,” Murphy said. “Gasoline numbers show a 3.3 cent a litre increase so far but that won’t happen this Thursday as the criteria for interruption weren’t met for that fuel”
“That would make our high price in the St. John’s area for heating oil hit 92.47 cents a litre, shattering last years record. The fact that we are now in a downturn with the Canadian dollar, losing value against its U.S counterpart and that has only aggravated the problem. We predicted that this would happen and come back to complicate things for consumers. If the Bank of Canada reduces interest rates later this week, it will only aggravate it further.
“There’s one word for government in all this. ‘Expedite!’ As consumers, we have waited long enough for an announcement on a heating and rebate program that will include everyone. We warned the government to get ready to have their program in place last July and we’re still waiting. When the next increase in price hits, we’ll be waiting still.”
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Premier asked to “Expedite” rebate and retrofit programs
News release
St. John’s, NL, November 28, 2007- Numbers are showing that the Petroleum Pricing Office will be forced to bump up pricing to consumers of stove oils and possibly heating oils early Thursday as the price for those important consumer petroleum products continues to rise.
“With six out a possible seven days, I have numbers that warrant a five cent a litre increase on stove oils. Heating oil being also part of the same distillate group will probably see a substantial increase also. Jet fuel and #2 heating oil are blended during the winter months as jet is used as an antifreeze agent. Jet fuel has traded very high, much higher than stove oils the past two weeks or so. It’s probably inevitable that heating oils will also take a shot upwards,” Murphy said. “Gasoline numbers show a 3.3 cent a litre increase so far but that won’t happen this Thursday as the criteria for interruption weren’t met for that fuel”
“That would make our high price in the St. John’s area for heating oil hit 92.47 cents a litre, shattering last years record. The fact that we are now in a downturn with the Canadian dollar, losing value against its U.S counterpart and that has only aggravated the problem. We predicted that this would happen and come back to complicate things for consumers. If the Bank of Canada reduces interest rates later this week, it will only aggravate it further.
“There’s one word for government in all this. ‘Expedite!’ As consumers, we have waited long enough for an announcement on a heating and rebate program that will include everyone. We warned the government to get ready to have their program in place last July and we’re still waiting. When the next increase in price hits, we’ll be waiting still.”
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For more information, contact:
George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices
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