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Tuesday, December 27, 2011

Hi to all…

Short, sweet and simple this time around as the holidays have all but scattered market data this time around.

The data I do have is as complete as it can be for this week. It is a little weak as there is an important market trading day from yesterday on the missing list, but here’s what I do have:

  • · Heating and stove oils show an added 1.33 cents a litre upwards.
  • · Diesel is also up by 1.6 cents a litre, and…
  • · Gasoline is up by 4.0 cents a litre.

I guess while Big Oil was in the spirit of giving last week, they’re taking this week.

I’ll be back to the regular routine again next week. I hope you are all enjoying your Christmas holiday!

Regards,

George Murphy

Group researcher/Member

Consumer Group for Fair Gas Prices

Twitter: @GeorgeMurphyNDP

Tuesday, December 20, 2011

Consumers to get a Christmas present

Numbers show a break for consumers

Media release

Conception Bay South, NL, December 20, 2011- The Grinch has turned his back from taking away Christmas for consumers this week with all fuel numbers pointing at a decrease for all fuels when the Public Utilities Board sets prices this coming Thursday. That news comes from George Murphy, group researcher for the Consumer Group for Fair Gas Prices.

“While the markets have been volatile, they have been mostly down the past week, with oil prices retreating from last week’s $100 US a barrel to this week’s average of $95 US a barrel. While the Canadian dollar took a hit, we’re still going to see something off at the consumer level as refined commodity prices also retreated.” Murphy said.

The numbers

“Consumers can expect to see heating and stove oils drop by 1.88 cents a litre, while diesel shows a drop of 1.6 cents. Gasoline prices are down by two cents a litre, but again, there’s no accounting here for market volatility, and the market news jolts everywhere uncertain.”

Markets are spotty

“There’s a tremendous amount of uncertainty out there. We’re still seeing European Union financial woes, considerable worry over the world economy with China’s reduction of output of consumer goods being one chief indicator. Also entering the market fray are the world geo-political situation with North Korea and ongoing concern over the Iranian nuclear program.”

I expect the markets to continue their market volatility for the next while. There hasn’t been market stability in the last few years, especially with the threats that persist worldwide. For now though, with the onset of the Christmas season, we get an early Christmas present, and that’s one thing that we can take pleasure in, albeit, it’s just a small break. We’ll take it”

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For more information, contact;

George Murphy

Group researcher/Member

Consumer Group for Fair Gas Prices

Tuesday, December 13, 2011

Gasoline steady

Distillates to take a slight drop

Media release

Conception Bay South, NL, December 13, 2011- Short and sweet for this week as the numbers show almost no change in gasoline prices. Numbers in this case show changes that measure one hundredths of a cent to gasoline prices. That’s according to George Murphy, group researcher for the Consumer Group for Fair Gas Prices.

Heating and stove oils show a drop of 1.7 cents per litre, while diesel shows a downwards movement also, but by 1.8 cents a litre.

Highlights

  • Markets remain edgy as the European Union still tries to contain the financial problems associated with burgeoning debt-loads of member European nation countries.

  • A build in US petroleum inventories last week was indecisive in helping investors make decisions on investing in oil. All major refined fuel groups showed builds in inventories this past week that probably were indicative in giving a clue as to what direction consumers were headed with fuel purchases. It seems that, in this case, consumers were being kept away amidst rumours of future economic problems matched with consumers spending in other areas besides fuels.

  • Tensions in Iran over its nuclear program still await entry into speculators minds as a possible disruption in supplies in the future , but that is being offset by investors’ fears of consumers real spending intentions, especially after warnings about the possibilities of economic slowdown occurring in other areas like China. Their manufacturing sector is slowing, and that’s a good sign of a slowdown in consumer spending.

That’s it from me for this week.

Regards for now!

George Murphy

Group researcher/Member

Consumer Group for Fair Gas Prices

Twitter: @GeorgeMurphyNDP

Tuesday, December 06, 2011

Oil steady at $100 a barrel this week

Market recovery?

Media release

Conception Bay South, NL, December 6th, 2011- Consumers in Newfoundland and Labrador will not see too much of a change in prices as market volatility continues, but the fact that oil has stayed above $100.00 a barrel for the full week may be an indicator of where investors are seeing the world economy heading. That’s according to George Murphy, group researcher and member of the Consumer Group for Fair Gas prices.

“While the markets are still showing their volatility, oil prices have remained above the $100 US a barrel mark for the first time in months, and that may be an indicator that investors are seeing some market recovery. An unexpected gain in US jobs data this past week, the latest of several reports, may be a harbinger of things to come, that’s if the European Union can sort out its financial woes.” Murphy said.

The numbers

“Prices are showing very modest changes that are reflecting the performance of oil prices this past week. While oil increased by a dollar a US barrel, there was only a slight movement upwards by gasoline over the same period. Gasoline shows an added 1.4 cents a litre coming to consumers this Thursday while heating and stove oils show a drop of 1.2 cents a litre. Diesel shows a drop of 1.4 cents a litre as well. Of course, there’s no accounting for volatility in my numbers.”

Markets waiting for a January test drive?

“If we do see more signs of market and economic recovery, we’re probably looking at a scenario that can best be described as a runner at the starting gates. We’re just waiting for the sign that sets the gun off with investors running with whatever they can put their money into the fastest, and that next sign has to come from Europe where austerity programming and debt-load has to be dealt with. If Europe can say they’re handling a difficult financial situation and they prove it, then China is sure to follow with consumers elsewhere starting to spend again. We just may have to wait and see what consumers spend like in January to find out how tough it is on the consumer. We already know they’re going to spend in December.”

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For more information, contact;

George Murphy

Group researcher/member

Consumer Group for Fair Gas Prices