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Monday, October 01, 2012

Numbers update



Markets today are withdrawing from Friday’s highs, but remain high. Here’s what I have with one more business day to go.
·         Heating and stove oils now show 2.07 cents a litre up.
·         Diesel now up by 1.8 cents a litre, and…
·         Two numbers for gasoline. I’m trying out a new system that includes a reformulated blend. That number shows up by 8.0 cents a litre, while my old system shows up by 9.8 cents a litre.

Keep in mind that I cannot account for market volatility here, especially this week!

A high amount of trading in the last three days of the month was indicative of investors being caught short on their purchases of October contracts. That drove gasoline prices upwards from a base selling price of 82.4 cents at New York arbor prices, to Friday’s price of 94.5 cents a litre. Today’s markets had it down from that to 86.3 cents a litre. That’s why my numbers dropped a little from the 10.9 cent increase to 9.8 now.

I’ll have another final number based on tomorrow’s trading day late tomorrow evening, and I’ll send that out in another release at that time.


Regards for now,

George Murphy
Group researcher/member
Consumer Group for fair Gas Prices
Twitter: GeorgeMurphyMA

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