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Tuesday, July 28, 2009

Numbers show 'up a little"
With all the goings on at my place these last two weeks, I really haven't had the time to do a lot of posting and tracking of the news in the oil markets.
I have had the time however, to go though the numbers and see what's in store for the consumers out there in Newfoundland and Labrador.
Here's what I have for Thursday morning:
  • Heating and stove oils to increase by 1.55 cents per litre.
  • Diesel to increase by 1.6 or 1.7 cents per litre, and...
  • Gasoline to increase by 1.6 cents per litre.

The US dollar lost against other world currencies over the past two weeks and that resulted in heavy investment in commodities like oil, driving those prices upwards over the time frame. Oil gained almost $8 US barrel since July 14th.

One side effect was that the Canadian dollar also was one of those currencies that gained ground a s a result of the investment in oil, with the dollar gaining over three cents against the US greenback.

Anyway, prices will be up slightly, not that it wasn't predicted to be like that with some volatility over the summer!

Hope it all helps!

Regards,

George

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