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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

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