Can this be true?

Gasoline and heating prices may drop next week?

Yes, you may be shocked to hear that...

Numbers from the New York Mercantile Exchange today are showing that gasoline, heating oil and stove oil prices may, indeed show a small decrease next week in Newfoundland and Labrador as markets react to the surprise build in overall inventories of crude and distillate supplies.

So far this week, gasoline had been showing about two cents a litre down and heating-stove oils to be down about three cents a litre. We still have another couple of days to go before the next price setting and the numbers I have still don't show for interruption but, hey, I think I'd be holding off as much as possible before I call in the heating oil truck...

Crude oil showed a modest, but important 800 thousand barrel gain against an expected 1.1 million barrel draw against inventory. Guess that's what you get in return for driving up prices in the first place; enforced conservation that's beginning to show itself!

Securities and Exchange Commission

A file is now opened at the US Securites and exchange Commission based on a letter of complaint I sent in dealing with market trading on June 6th that saw oil shoot up by that $10.76 US. We'll let you know what, if anything, comes from that. Ironic as it was, there were a few important resignations from energy trading firms in the immediate days prior to the drive-up in oil prices that prompted me to drop the SEC a note on the matter.

I'll be in touch!

Regards,

George