Price changes: May 2, 2013

Hi to all,

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

·         Heating and stove oils to increase by 1.16 cents a litre.

·         Diesel to increase by 2.4 cents a litre.

·         Regular gasoline to increase by just 4/10ths of a cent, and…

·         Reformulated gasoline shows an added 3.9 cents a litre.

Highlights

·         Hot off the Bloomberg presses, as China manufacturing has slowed another bit, meaning another sign of slowing Chinese growth. After a busy week that saw oil prices increase by an average of $4 US to Brent prices, they started a retreat again on word of oil inventory building. This word on manufacturing may keep dropping prices later this week.

·         Concerning inventories, a huge build in crude inventories sent both WTI and Brent prices ina retreat today as the American petroleum Institute reported an increase of 5.2 million barrels for the last week. The US Energy Information Administration will release their inventory report later on Wednesday.

·         The US Geological Survey indicated today that the Bakken/Twin Forks oil formation holds an estimated 7.4 billion barrels of light oil. That’s up from the 2008 estimate of between 3 and 4.3 billion barrels.

That’s it for this week! Lots of interesting oil news out there, but I’ll save it for another day.

Regards,

George Murphy

Group researcher/Member

Consumer Group for Fair Gas Prices

Twitter: @GeorgeMurphyMHA

Price changes for Thursday, April 25, 2013

Hi to all,

Short and sweet as I’m just out of the HOA from Estimates…

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

·         Heating and stove oils to drop by 1.86 cents a litre.

·         Diesel to drop an even two cents a litre.

·         Regular gasoline down just 1/10^th of a cent. My margin for error is three tenths so, there may not be any changes here, barring any missed volatility.

·         Reformulated gasoline shows an added 1.5 cents a litre.

Regards to all!

George Murphy

Group researcher/Member

Consumer Group for Fair Gas Prices

Twitter: @GeorgeMurphyMHA

Price changes for Thursday, April 18, 2013

Hi to all,

Short and sweet this week again.

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

• ·         Heating and stove oil to drop by 3.0 cents a litre.

• ·         Diesel to drop by 2.7 cents a litre

• ·         Regular gasoline to drop by 1.2 cents a litre, and…

• ·         Reformulated gas to drop by 6/10ths of a cent per litre.

Highlights

• ·         Over the past week, oil showed a strong retreat that cost the Canadian dollar against the US greenback.

• ·         Brent crude loses heavily as China’s gross domestic product numbers showed a possibility of a slowing economy. While 8 percent growth was expected, economists measured it slightly lower at 7.7 per cent. That was enough to start the retreat.

• ·         Brent crude for the June contract now sits at $99.56 a US barrel

• ·         Wednesday’s inventory report will tell where Brent will head next. A draw-down may show Brent with a slight recovery, while a build in inventory will continue the downturn.

That’s it for this week!

Regards,

George Murphy

Group researcher/Member

Consumer Group For Fair Gas Prices

Twitter: @GeorgeMurphyMHA

Price changes for Thursday, April 11,2013

Hi to all...

I'm on the road and I forgot the hotel here has a computer so, now I can post here as well. I will keep it short...

Numbers for Thursday show a good drop for consumers on the way with heating and stove oils to drop by 3.35 cents a litre.

Diesel is also projected to drop by 3.2 cents a litre.

Gasoline is showing a lot of downward volatility with regular unleaded down by 4 cents a litre even and reformulated gasoline down by 6.2 cents a litre.

I can't remember the last time I had that much of a spread between regular unleaded and reformulated. Only thing I can figure is the fact that ethanol in reformulated gas may have been also showing a bigger drop and that added up to good news for that blend.

We'll see what happens this Thursday.

In the interim, I'm off to Labrador until Sunday and then it's back to the capital.

Regards for now!

George
Twitter @georgemurphymha

Price changes for Thursday, April 4, 2013

Hi to all,

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

·         Heating and stove oils down by 92/100ths of a cent per litre.

·         Diesel up by 9/10ths of a cent

·         Regular unleaded up by 2/10ths of a cent a litre, and…

·         Reformulated blend is down by 6/10ths of a cent.

That’s it for this week!

Regards,

George Murphy

Group researcher/member

Consumer Group for Fair Gas Prices

Twitter: @GeorgeMurphyMHA