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Tuesday, December 21, 2010

Numbers up for most fuels

Media release

Conception Bay South, NL, December 21, 2010 - Consumers in Newfoundland and Labrador will see a slight upwards movement in prices when the PUB adjusts prices this Thursday. That's according to George Murphy of the Consumer Group for Fair Gas Prices.

"There hasn't been a big move in oil prices, but refined commodity prices are another thing, albeit they haven't moved a great deal. I expect heating and stove oils to increase by 1.13 cents a litre, diesel to increase by an even penny, and gasoline to increase by 1.2 cents a litre. These numbers are up slightly as a result of an increase in the US dollar against the Canadian currency with the canuck buck losing almost a cent and a half against its US counterpart," said Murphy.

"Distillates remain under heavy pressure as a result of colder weather in both the US and Europe and that has helped to support oil prices as well as support those fuels from the distillate group of fuels, namely diesel, heating and stove oils. As we enter into the depths of the heating season, I expect that upwards pricing pressure will continue to support prices where they are at present."

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For more information, contact;

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

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