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Tuesday, September 04, 2012

Numbers up

Distillates still on the move

Media release

Conception Bay south, NL, September 4, 2012- Numbers are still showing some strength in the face of steady oil prices, and refined commodity prices have increased this week with consumers again looking at very moderate increases in prices to most fuel prices this week. That news from George Murphy, group researcher and member of the Consumer Group for Fair Gas Prices.

The numbers

“Numbers show slight increases across the board. Heating and stove oils show an added 98/100ths of a cent a litre, with diesel also showing an increase of 1.1 cents a litre. Gasoline numbers show an added 8/10ths of a cent a litre,” Murphy said.

Price war?

Meanwhile, numbers to the consumer are showing a different picture, and all in the face of the old oil company argument about not being able to drop prices because of regulation. “Prices in the St. John’s area are anywhere from nine cents a litre in the difference between stations, ranging from the city’s west end to the northeast where Costco has become a major player in the markets. They’re all trying to compete for market share, and it all goes to show just how important Costco has become in keeping prices lower at mainstream gasoline retailers. Costco is dictating what the Ultramar’s and Esso’s of this city are charging. Their prices have even meant that, in some cases, stations around St. John’s are charging less than those in the Conception Bay South. Consumers continue to benefit by having them in the retail markets, and it’s a true indicator of what it means to have competition between companies. I’ve always argued that.”


For more information, contact;

George Murphy

Group researcher/Member

Consumer Group for Fair Gas Prices

Twitter: @GeorgeMurphyNDP

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