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Tuesday, January 03, 2012

Hi to all…

Short and sweet again this week as the holiday season in the markets comes to an end, although next week should be more interesting.

Here’s what I have for this week:

  • · Heating, stove oils and diesel fuels all show an added 1.0 cents a litre upwards, and…
  • · Gasoline shows just an added two tenths of a cent upwards…

However…

Watching closely the situation in the Red sea where the state of Iran is causing some concerns in the markets with its sabre-rattling in the Straits of Hormuz. Oil prices increased $4.13 a US gallon on concerns that Iran will halt all shipments of crude oil through the important export route that sends out close on 17 million barrels of crude oil to the world markets. That concern also translated in refined prices increasing today to show a potential increase coming to consumers for next week, if there is no improvement in the geo-political situation there, or other mitigating factors that may enter to play their part in the markets.

That’s it for this week. I’ll be back again next week with something more substantial to everyone than what the holidays have allowed for…

Regards for now,

George Murphy

Group researcher/Member

Consumer Group for Fair Gas Prices

Twitter: @GeorgeMurphyNDP

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