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Tuesday, September 08, 2009

Consumers to catch a break at the pumps?
Diesel, heating and stove oils will drop

Media release

Conception Bay South, NL, September 08, 2009- Consumers of diesel, heating and stove oils will all be looking at lower prices this coming Thursday morning when the Public Utilities Board moves to adjust prices, that’s according to George Murphy of the Consumer Group for Fair Gas Prices.

Gasoline numbers
“At this point we have two different numbers for gasoline, one that shows a one tenth of a cent increase on gasoline, and the other showing a 2.8 cent a litre drop coming. This was all necessitated because of the differential we have been seeing between our numbers and those of the PUB. There’s been a large difference as of late that I’m trying to get a handle on, and I may have it. I’m betting on the price dropping this week for gasoline.

“I can’t say if they have changed the way they do things at the P.U.B as of late. All I know is that while my numbers have been dead on for the other fuels I measure, gasoline has been out substantially and it concerned me. I had to go back for a few weeks and work up some other models to try and account for the differences. I think they’ve changed their ways of doing things for that fuel. We’ll find out Thursday morning if I’m back in the saddle again.

Other price changes expected
“Heating and stove oils are expected to take another drop this week of 2.82 cents a litre. Diesel is expected to drop by 3.3 cents a litre following the trend in the last two weeks of crude oil prices. Crude prices over the last two weeks started out at $72 US a barrel, bottomed at $68 US and climbed again today to reach $71 US a barrel. Some of the focus of the markets has come off distillates again as some economic worries are again permeating the markets in the face of dropping jet fuel demand and worries over the H1N1 virus and its economic effects.”


For more information, contact;

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices

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