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