Small break at the gas pump
Distillates still continue upwards
Media release
St. John’s, NL, July 23, 2013-
“It’s almost too lousy of a decrease to talk about, all that considering the
root that consumers received from market investors last week, But if you use
gasoline, you might even welcome the drop in price, even if it is just a penny.
For distillate users of heating oil and diesel fuel, the news is a little
different.” That word from George Murphy, Member of the House of Assembly and
group researcher for the Consumer Group for Fair Gas Prices.
“While most commodity prices
remained relatively steady this past week, the Canadian dollar gained a little
ground against the US greenback in trading, picking up a little over a cent.
That resulted in a small drop in gas prices, but wasn’t enough to turn away the
prospects of another increase to heating, stove oils and diesel fuel prices. It’s
beginning to be painful to watch heating oil prices rise, not to mention the
spectre of rising diesel fuel that can burn consumers in higher transportation
costs which will result in higher prices for food.”
“Most seniors in this
province just received increases to their seniors benefits ranging a massive $2
increase to their cheques. That’s not enough for a litre of milk, let alone
look after the rising cost of heat this winter, if prices don’t retreat-and
retreat fast. How are they going to look after themselves? This trend is
spelling trouble.”
The numbers
Here’s what I have for this
week’s price changes:
·
Heating and stove
oils to increase by another 1.17 cents per litre.
·
Diesel fuel to
increase by 1.7 cents per litre.
·
Regular gasoline
to drop by 1 cent, and…
·
Reformulated gasoline
shows just a half penny down.
Incidentally, the record high
for heating oil prices was reached in July of 2008 when heating oil prices
briefly hit $1.23 a litre before collapsing before heating season began. Crude oil
hit $147 US a barrel that same week, part of the reason for the massive hit to
heating oil prices.
-30-
For more information,
contact;
George Murphy
Researcher
Consumer Group for Fair Gas
Prices
Twitter: @GeorgeMurphyMHA
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