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Tuesday, May 14, 2013

Numbers for Thursday, May 16, 2013

Hi to all,

Here’s what I have in the way of price changes for this Thursday:

·         Heating and stove oils show an added 1.07 cents a litre.
·         Diesel shows an added 9/10ths of a cent a litre.
·         Regular gasoline shows an added 1.6 cents  alitre, and…
·         Reformulated gasoline shows an added 1.5 cents a litre.

Market highlights

·         The European Union is investigating a possible attempt to manipulate global oil prices. The story running on CNN says that anti-trust staff for the European Union have visited several major oil companies looking for evidence to support the claims of possible price fixing. Some of the companies named include Shell, British Petroleum and Norway’s Statoil. The officials are looking for evidence pointing to several oil products including “a number of oil and biofuel products”.

·         In for a supply shock? Markets for oil are set to show a retreat according to this story on US domestic production from the International Energy Agency. I’ve seen other stories on this before, but the fact is, is that fracking might take a bigger bite out of oil prices than first thought!

That’s it for this week!


George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices
Twitter: @GeorgeMurphyMHA

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