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Wednesday, March 17, 2010

Numbers still pointing down

Hi to all...

Not much change from yesterday's projections I had listed on the blog so, again I won't bother you all with an official news release, just this little emailer!

What you'll see this Thursday morning

All fuels still show a drop coming. Not by much again but they are down.
**Heating and stove oils to drop by 24/100ths of a cent.
**Diesel to drop by a half cent, and...
**Gasoline to drop by 8/10ths.

Some market highlights:

*** The Canadian dollar continues to make gains against the faltering US dollar, reaching $1.0148 at Tuesday noon.
***Some building of crude oil inventories last week an indicator of weak demand.
***The Euro gained ground against the US dollar also this week and that renewed the appeal of commodities like crude oil and it's related, refined products. In spite of that, oil bounced around $82.00 US all this week, with the exception of the March 15th sell-off down to $79.00 US a barrel.
***News from Vienna, Austria indicates that OPEC will keep production figures steady in the interim, unless consumption again falls off, all in spite the latest news that indicates weak demand for oil products. keep an ear to the ground on OPEC as they have been known to change their minds on a moments notice. The news from Vienna later today could be different than what's coming from there right now!

Local heating oil prices remain fluid

Here's a breakdown of heating oil prices in the immediate St. John's area:

Harvey's Oil........78.67/Lt
Irving Oil Ltd.......76.67/Lt
North Atlantic.....76.67/Lt
Chafe's Oil..........76.67/Lt
Esso (Imperial)....76.67/Lt
Skinner's Oil........70.67/Lt
A1 Fuels.............70.00/Lt
Discount Fuels....69.95/Lt

Price difference.....8.72 cents per litre ($89.00 HST included and based on a 900 litre fill-up)

Shopping around for heating oil could prove profitable!

That's it for this week!


George Murphy

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