Six days in...
Here's what I have for this next regulatory session, six days reporting out of the seven needed.
- Heating, stove and diesel all show down by a half cent a litre.
- Gasoline is down by 7/10ths of a cent.
While I predicted some very slight relief last week, I didn't expect that the disaster in Japan would be the reason why it would be so, or to be at least part of the reason why oil prices and its related refined commodities would perform.
My reasoning was simple really: that the "speculator industry" would go for a "take" and draw some profits from oil's run-up, giving consumers a small reprieve.
I'll be back tomorrow night with the last day of data and the best guess for the Thursday price change.