Follow by Email

Tuesday, May 28, 2013

Price changes for Thursday, May 30, 2013

Hi to all,

Here’s what I have for price changes for this week:
·         Heating and stove oils are predicted to drop by 68/100ths of a cent per litre.
·         Diesel should drop by one cent a litre.
·         Regular gasoline shows a drop of 1.3 cents  a litre, and…
·         Reformulated blends show a drop of just one cent a litre.

Market highlights

·         OPEC meeting in Vienna, Austria this week to discuss a possible production cut to try and stabilize prices. Allegedly, Saudi Arabia are asking about the possibility, but why even bother? Try cutting back on production happening now, over and above your self-imposed quota. Eyes are on the meeting going ahead at the end of this week.
·         Oil prices lose a dollar against last week’s climb in the markets and the Canadian dollar takes another kicking against the US greenback as a result. Canadian dollar loses another penny against the US buck this past week. $1 US now equals $1.0371 Canadian.
·         Farmers in Alberta are now looking for a ban on fracking? Yes, Alberta. The National Farmers Union is calling for a moratorium on fracking. According to this story anyway.
·         Meanwhile, also from Alberta, the government there is considering expanding mandatory water testing within 250 meters of any fracked well. The story from April says that the Canadian Association of Petroleum Producers (CAPP) does not make the program mandatory for fracked wells and that the only requirement that needs to be met is in the case of methane coalbed extraction. Surprised to hear they don’t test at all for fracked wells now!

That’s it for this week!


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

No comments: