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Tuesday, November 30, 2010

Gasoline down but distillates are up
Numbers show little change in prices

Media release

Hi to all...

I'll keep it simple for this week as I am still tied up in my election campaign.

Oil remains steady for now
Considerable worries about European debt and North American economic recovery are overshadowing oil prices this past week as oil prices and their related refined commodities held mostly steady as well.

Debt troubles in Ireland and other Euro nations are putting the emphasis back on US dollars while, at the same time causing an uneasy investment in oil. The trouble here is that if there is turmoil in economic recovery, then the impact on oil demand could be significant and we could see oil prices start to retreat.

It's going to be worth keeping an eye to, if indeed world market recovery comes into question.

Continuing oil work

A lot of people are asking me if I'll keep up my oil work in the event I do get elected. The short answer is "yes" and I will continue to keep the media and consumers informed of any pricing changes as part of the daily routine.

What's in the numbers

Here's what I have for the past week with all the data now in. These changes should come into effect this Thursday morning:

  • Heating and stove oils show an added 1.29 cents per litre.
  • Diesel shows an added 1.9 cents per litre, and...
  • Gasoline shows a decrease of 1.1 cents per litre.


That's it for this week!

Regards,

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

Monday, November 29, 2010

Some numbers for the week so far...

Here's what I have so far this week.

You'll have to excuse the fact that I haven't included some of the latest oil news here as I have been busy on the campaign trail and I haven't had the time to keep track.

Not to worry, as I'll continue my oil work irregardless of how things turn out. I've had a few emails on that question already!

  • Heating and stove oils show an added 1.26 cents upwards.
  • Diesel shows an increase of 1.9 cents a litre, and...
  • Gasoline shows a drop of 1.1 cents a litre.

Six days out of seven, keep in mind! I'll be back with the final numbers tomorrow night.

George

Tuesday, November 23, 2010

Steady for gasoline while distillates show "down"

Hi to all...


Just in from the campaign trail where we've been quite busy.

Here's a brief synopsis of the numbers. Not much change from last nights figures, although these do confirm them for the seven day period.

  • Heating and stove oils are forecast to drop by 2.07 cents per litre.
  • Diesel to drop by 2.1 cents per litre, and...
  • Gasoline shows an added 2/10ths of a cent, but there may be no change at all if you take into account my three tenths of a cent margin for error.

That's it from me!

Catch me on the campaign trail somewhere!

Regards,

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices
gasprices@hotmail.com

Monday, November 22, 2010

Distillates are dropping. Gasoline relatively steady

Hi to all...

Cold on the campaign trail and it probably means that thermostats are also getting cranked, now that winter seems to be settling in. The heat bill has become an issue for some out there.

There is a little relief on the way, with oil prices moderating somewhat. The madness over last weeks market turmoil caused by the US and China playing with their positions on their respective currencies has abated somewhat, but still will flare up again when oil abates I would bet!
Still, a draw on US inventories of refined product would normally have played heavily in the markets again last week, but it never, which is curious. I'm betting that there's a lot of worry over investors damaging any economic recovery with an increase in energy prices. I'm betting that someone out there is feeling the pinch before Christmas, and they don't like what they see in the consumer's eyes. In other words, I think that investors are seeing the markets "tighten up" and there's not much "elasticity" in people's pockets.

Here's what I have as regards to this weeks pricing changes, with one more day of data to attain:
  • Heating and stove oils to drop by 2.03 cents per litre.
  • Diesel to drop by 2.1 cents, and...
  • Gasoline to increase by 6/10ths of a cent.

I'll be back with a full run-down on the numbers after ten tomorrow night, I hope!

Regards,

George

Tuesday, November 16, 2010

Sorry I published late!I was out on the campaign trail. Hope you get most of the details on the news!
-George-

Oil starts downwards
Commodities unaffected by drop in oil prices yet

Media release

Conception Bay South, NL, November 16, 2010- Consumers in Newfoundland and Labrador will be paying a little more for gasoline for at least this next week, in spite of a drop in oil prices. That comes from George Murphy, group researcher for the Consumer Group for Fair Gas Prices.

"Even though I've seen the slide in oil prices this week, coming down over five dollars since November 12th, I haven't seen the same thing happen with refined commodities", said Murphy. "What I have seen is a drop in the value of the Canadian dollar against the US greenback and that wasn't a good thing when the dollar difference is thrown in the mix. A drop of a penny against the US dollar equates to only a 4/10ths of a cent drop in fuel prices to Canadian consumers, so this weeks drop in oil prices mounted to nothing for Canadian consumers."

The numbers
"I expect very little change in distillate prices this week. Heating and stove oils show a modest 56/100ths of a cent increase, while diesel prices are showing just an added three tenths of a cent. Gasoline is expected to increase by 3.2 cents a litre on Thursday morning, so consumers may be best advised to top up the tank if they wish to tuck away a few dollars.

"If oil continues to drop, consumers can expect that prices for all refined commodities may follow provided that inventories remain up along with an elevated Canadian dollar. If the distrust of the markets right now is any consolation to consumers, this increase in gasoline prices may be short-lived.

Markets are anxious
It seems that there's some thought going into what evidence there is for any economic recovery out there While there has been a stall in US economic recovery within the US northeast areas, there is also considerable worry over Ireland's sovereign debt and the possibility of China raising interest rates. We're really not out of the woods on worldwide economic recovery just yet, and those feelings played with oil pricing this week. Investors still do not have the trust and confidence in the markets to take too much risk.

-30-

For more information, contact;

George Murphy
Group researcher/Member

Monday, November 15, 2010

Numbers so far

This week sees oil pricing to be contingent and dependent on world affairs, more so this past week than ever it was.

Oil prices this week are starting to walk a fine line between another climb and a retreat in prices based on what's been newsworthy to report this last week. The contentious debate amongst the G-20 leadership, in particularly the currency war between China and the United States, has oil all over the place on the consumer pricing map. With the US entering the fray over the value of a fixed Chinese currency, the US Treasury Department, in it's wisdom, decided that they had beter start the copy machines a'printing in an attempt to devalue its own currency. That led investors to drop the US dollar and invest their money in commodities like gold and oil, along with other currencies like the Canadian dollar.

Not so with oil's related, refined commodities which, while showing volatility, still hasn't reflected the very modest retreat in oil prices over the past two business days.

Here's what I have so far this week, six out of seven days to report:
  • Heating and stove oils show an increase of just 72/100ths of a cent.
  • Diesel prices show an added half penny, and...
  • Gasoline shows an added 3.3 cents a litre at the pumps for Thursday.

Ouch!

Almost back to $1.16 a litre in the St. John's area...

I'll be back sometime later tomorrow night with a final breakdown on the numbers, and the "guesser" for Thursday.

Regards,

George

Tuesday, November 09, 2010

Oil trades up for the week
Consumers to see some increases as a result

Media release



Conception Bay South, NL, November 9, 2010- Consumers in the province will see some increases to consumer pricing this Thursday as the rise in oil prices will begin to toll on the pocketbook. That’s from George Murphy, group researcher for the Consumer Group for Fair Gas Prices.

“All data indicates a rise in prices, mitigated somewhat by the increase in the Canadian dollar against the US greenback. While the US dollar fell for the second straight week, that spurred investors to take their money from currencies and invest them in commodities, and that’s chiefly why we’ll be seeing prices increase this week”, said Murphy.

What’s in the numbers
“Numbers show heating and stove oils to increase by 2.13 cents a litre, diesel to increase by 2.5 cents and gasoline to increase by 1.1 cents a litre. With oil prices increasing by close on four dollars a barrel this week, it didn’t surprise me any to see prices go up to consumers as well. The question now is: How high can prices go before consumers start to feel the pinch from rising energy prices? How high can oil go before an unsteady economic recovery starts to feel the cost?

NDP platform includes removal of HST
This week saw the federal branch of the New Democratic Party show off a plank in its platform. The party has picked up the call for the removal of HST from heat, which is an important consumer need during the cold Canadian winter. Their platform calls for the removal of the federal governments five per cent cut of the HST from all heat with the remainder to be removed by the provinces.

-30-


For more information, contact;

George Murphy
Consumer Group for Fair Gas Prices

Monday, November 08, 2010

Up five bucks in a week
There must be tears of joy in the halls of the department of finance this week!

If you have been keeping an eye to the markets this week you would be taking notice of the rapid increase in oil prices, up almost five bucks a barrel. Since last regulation period, oil prices have increased from $82.95 US a barrel to reach today's high of $87.06 US.

Perhaps when you go to fill up, you might be taking more notice of the price as well, in particular for the rising costs for heating and stove oils. Added surcharges surely are to follow again as prices increase to various transportation industries.

Be warned...

Prices are again on the move upwards...

Of interest to consumers out there, with the rising price of oil we should see some reaction to consumers spending habits start to kick in. Consumers will probably become acutely aware that it's just costing a little bit more, and that it's starting to impact what you think you had left in your wallet.

It will be no different this week as, worldwide, consumers begin to notice the bite that high energy will be taking on spending. Expect the impact to be felt in the said economic recovery. If anything thwarts that, it's high energy prices. If we notice that, does industry notice the effects on spending as well?

Here's what I have so far this regulation period with one more day of data to attain. Keep in mind the possible slight inaccuracy in the heating oil number as a result of the change to the winter heating mix change for the next few months when the price changes come out this Thursday:
  • Heating and stove oils are up by 2.13 cents per litre from last week.
  • Diesel shows an added 2.4 cents per litre, and...
  • Gasoline shows an added 1.1 cents per lire.

I'll be back again tomorrow night with the final numbers for the week. In the meantime, drop me an email if you think you're starting to feel the effects of high energy prices agin. I'd love to hear from you!

Regards,

George

Tuesday, November 02, 2010

Not much change in the numbers

Hi to all...

Not much activity in the markets this week and that means not much change in the prices of fuel products for this regulation period.

Here's what I have with all seven days data at hand:



  • Heating and stove oils show a drop of 12/100ths of a cent.

  • Diesel shows a drop of 3/10ths of a cent, and...

  • Gasoline shows an added 3/10ths of a cent.

Two things here:

First off, my margin for error is 3/10ths of a cent on a litre, so there may not be any change to prices this week, the numbers are that close.

Secondly...


We are entering the winter heating season where the heating oil number can only be used as an indicator as to what direction heating oil will go. The reason for that is that heating oil (#2 fuel oil) for winter heating purposes is composed of 25% of 32 fuel oil and 75% jet fuel (kerosene). I can't find a free source out of the many out there.

The number should still be solid for stove oil figures.

That's it for this week!

Regards,

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices
gasprices@hotmail.com



P.S: In spite of a possible by-election run, I will still be doing as I always have with the update. It'll be just like nothing changed.

Monday, November 01, 2010

No real changes to pricing this week so far

Numbers here don't show any need to run out to the pumps anytime soon.

Here's what I have so far for this regulation period. Six out of seven days reported:
  • Heating and stove oils are down by 18/100ths of a cent.
  • Diesel is down by a half penny, and...
  • Gasoline shows an increase of about two tenths of a cent.

Like I said, no rush.

In the meantime, just a short note here. we're getting close to the winter heating season where the winter heating blend of 75% jet and 25% number 2 fuels will be out. That means that my heating oil numbers may be out slightly more than before as I cannot get a source out there for predicting the change. It cost a rough $400.00 US per month for a subscription service in order to get that i cannot spare for a while yet.

Sorry for any inconvenience this might cause to some of you out there. The numbers go back to normal again after the end of the winter heating season.

I'll be back tomorrow night with a wrap on the week!

Regards,

George

The stove oil number will remain unchanged however...