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Tuesday, November 24, 2009

No changes in the numbers this week

Just to let everyone know that a boring week in the markets still carries the weight of boredom around it!

Not much happening with the numbers. At least we can wait for another week before we see the regular price setting.

So far for this period, all numbers were up slightly but no cause for concern as they don't meet the interrupter criteria.

Regards,

George

Tuesday, November 17, 2009

Modest drops in pricing on the way

Media release


Conception Bay South, NL, November 17, 2009- There will be some retreat in petroleum pricing this coming Thursday, that’s according to George Murphy, group researcher and member of the Consumer Group for Fair Gas Prices.

“There’s not a big lot there for the consumer but, at least the numbers are pointing down according to the data I have,” said Murphy. “While oil has been trading in a volatile way the past two weeks, it has always returned to the $80 dollar a barrel mark and that volatility shows itself in bullish spot pricing numbers.”

“Consumers should see stove oils drop by 1.37 cents per litre, diesel to drop by 2.0 cents a litre and gasoline should drop by 2.3 cents, that’s with all fourteen days of data in hand now. Heating oils should drop by close on what I have for stove oils, but with the jet fuel component remaining a missing factor in figuring out its trend, we can only go by the stove oil number to surmise what will happen with pricing there.

“Good economic news is helping to support pricing of oil products this past session. Signs of economic recovery are helping to spur investment in commodities over the US dollar and that helps to support pricing. In spite of this, related commodity pricing of petroleum products fell from last week as a result of builds in crude oil, gasoline and distillate supply.

“That fact, together with a drop in refiner capacity to a near historic low of close on 79 per cent, is still signifying some possible trouble for supported oil prices in the future when more refineries come back on-line after maintenance shutdowns. Look for oil prices to remain close to where they are now for the time being until the economy shows more proof of consumption of available inventory.”

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For more information, contact;

George Murphy
Group researcher/Member

Sunday, November 15, 2009

Numbers down so far this pricing session

Here's what I have as we drift along this pricing session.

Remember that the winter heating oil blend has changed with the addition of jet fuel as part of the mix. That means that the heating oil number consists of 75 per cent jet fuel and 25 per cent of number two type oil (stove oil) so, when I quote that number, it can only be used as a possible indicator of where heating oil could be going.

The stove oil number remains the same all year round. The quote you'll see from here on until April month still applies.

With twelve days of data out of a possible fourteen days needed in order to predict the final number, it certainly looks like a drop in prices will be forthcoming this coming Thursday morning for all fuels. Here's what I have so far, keeping in mind that the next two business days will determine the final result but, all indications from the markets are that the drops in pricing should be slightly more than what I have here.
  • Heating and stove oils are down by 1.48 cents per litre.
  • Diesel fuel is down by 2.0 cents per litre, and...
  • Gasoline shows down by 2.5 cents a litre.

I'll be posting a press release here this coming Tuesday night, close on 11:00 PM Newfoundland time that will have the final predicted drops to come.

Regards,

George

Tuesday, November 03, 2009

Numbers only down slightly

Media release


Conception Bay South, NL, November 3, 2009- Consumers in Newfoundland and Labrador will still be dealing with high prices this week when the Public Utilities Board moves to set prices this coming Thursday. That’s from George Murphy, group researcher with the Consumer Group for Fair Gas Prices.

“Numbers have shown little change this week, even though they show very modest drops in prices. Crude oil prices still averaged only a buck a gallon down from last weeks price changes. Stove oils show down by a mere 32/100ths of a cent, diesel is down by 7/10ths of a cent while gasoline shows down by 1.5 cents a litre.

“Heating oils will probably be down although I can’t get a fix on the number. This Thursday should be the official start of heating season when the PUB adds jet fuel to the winter heating blend. It’s the jet fuel numbers that we can’t get a fix on from any sources. It’s this time of year when I can only use the stove oil number as a guide, rather than the actual change, that will occur with heating oils.”

-30-

For more information, contact;

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