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Tuesday, May 22, 2012

Numbers for this week: All down

Hi to all,

Here’s what I have for price changes for this week;

· Heating and stove oils down by 1.37/Litre.

· Diesel down by 2.0/litre, and…

· Gasoline to drop by 1.7/Litre.

Market highlights

· Still a lot of questions surrounding Greece and their ability to form a majority government. It’s widely believed that the instability there is undermining both consumer confidence and the strength of the Euro.

· Libya output has finally reached over 1.6 million barrels a day of production, spurring optimism in ongoing recovery of exports from the North African country.

· Yukiya Amano, the UN’s head of the International Atomic Energy Agency will be making a special visit to Iran to discuss the ongoing nuclear dispute. It’s a rare move that may be signaling significant moves on the part of Iran. It’s been four years since speculation swirled over Iran’s possibility of manufacturing of nuclear weaponry.

· OPEC has pumped over 1.6 million barrels a day over its self-imposed output targets for April month, increasing OPEC group output to over 31.6 million barrels per day.

That’s it for now!

Regards,

George Murphy

Group researcher/Member

Consumer Group for Fair Gas Prices

Twitter: @GeorgeMurphyNDP

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