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Monday, March 22, 2010

Oil holds steady and so will pricing
Not a lot of changes to be expected again this week as oil prices show "steady as she goes" for the time being.
Seems that the markets have taken a wait and see approach to what's happening in far centers before prices again start to climb.
The big news seems to center on how some European countries will be dealing with debt and policies that they will institute before we see any other long term effects to pricing. What they do to consumers in their own countries has played a big part in the stall of oil prices as consumers stand to be hit by any increases in taxation levels in countries like Greece and Italy. Until they deal that blow, it seems that oil will hover right where it's to right now, barring any unforeseen obstacles like OPEC cuts.
To that end, here's what I have so far for this pricing session:
  • Heating and stove oils show a decline of 39/100ths of a cent.
  • Diesel shows an added 2/10ths, and...
  • Gasoline shows a drop of 2/10ths of a cent.

Like I said. Nothing disconcerting.

I'll be back tomorrow night with a final run-down on the changes we can expect this Thursday.

Til then!

George

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