Hi to all,
All numbers are based on six days data out of seven needed
this week.
Here’s what I have for price changes this week. Keep in mind
that the numbers for heating oil and diesel I think are still going to be way
off with the addition of the winter blend of kerosene in the mix. I can’t track
it, so, those numbers can only be used as a rough indicator.
The gasoline numbers should be still close however.
·
Heating and stove oils add 1.9 cents a litre.
·
Diesel fuel adds 3.3 cents a litre, and…
·
Gasoline shows an added 2.2 cents a litre at the
pumps.
Gasoline continues to
rise
It’s not a pretty picture being painted by the rise in gas
prices the last few weeks, with gasoline prices showing steady rates of
increases all well ahead of the traditional summer driving season. My past
records indicate that the rise in gasoline prices ahead of the traditional
start of the US summer driving season starting in mid-May, would experience a
run-up in basic numbers usually at the end of March month. But this year is now
the second year that we have seen a run-up in fuel prices on the New York
Mercantile Exchange during the late January and February time-frame. What that
is doing is giving gasoline prices a higher starting point for further price
increases to occur during the early summer season, and that has the potential
for a host of problems with transportation costs. That is probably a strong
reason why everything in the province saw an adjusted inflation rate that
surpassed the national average by an added percentage point to rest at 2.5%.
What’s needed to give pricing relief?
Besides consumers practicing conservation, we need to see an
increase in refining capacity, and coupled with good strong builds in
inventories. While they may sit right now at close to the same level they were
this time last year, a slight improvement in the US economy has added some upwards
pressures.
Rising transportation costs were already reflected in an
increase to Marine Atlantic transportation charges a few weeks ago, with the company
increasing rates by an added 3%. No doubt, those added costs will be passed
down to everything from tourist traffic to consumer goods shipped in via truck.
The federal government needs to mandate extra funding to Marine Atlantic so we
can be insulated from increasing energy costs, but it makes one wonder why
prices went up for us in the first place, if you consider that the new boats
were supposed to be more energy efficient!
That’s it for this week!
Regards,
George Murphy
Twitter: @GeorgeMurphyMHA
