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Tuesday, July 21, 2009

No increase in prices this week

Watching the markets the past few days probably made some people a little nervous, especially in the thinking that with a rise in oil prices of almost $4.50 US a barrel.

My email has been littered with the question "If"...

Here's the reality...

The numbers are not there for interruption to prices to occur. Both heating and stove oils as well as diesel, are now at "break even" with neither an increase or decrease showing in the numbers.

Gasoline prices show down by a half cent, so far...

While spot prices for all the fuels I measure has gone up a little, we are still a little under the average for the last price setting this week. Keep in mind that, if the trend continues, we may see a slight bump in prices at the next price setting next week, that's if the numbers allow for it and we see the price of the refined comodities take off again. This latest run-up has been caused by positive economic news out of Chine and a decrease in the US dollar. Of course, whenever we see the US dollar slide, it's a sign that traders will start investing in commodities like refined oil products, as a hedge against inflation.

Hope this will clear the air a little?

Any questions, drop me a note...

Regards,

George

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