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.