Price changes for Thursday, May 1st, 2014

Sorry I'm late, but work had to come first and foremost...

Disappointing news from the markets today. As a matter of fact, all week.

Here's what I have for this week's price changes:

Heating oil shows a drop of just 39/100ths of a cent a litre.
Diesel shows just a drop of 7/10ths of a cent a litre.
Gasoline: Down just 1/10th of a cent on a litre.

Sickening to see no change. Wednesday's inventory report, if it shows any increase in gasoline supply, may start to move prices down.
But if they show a draw on inventory, it could move prices the opposite direction. Needless to say, I'll be watching for that inventory report when it comes around.

Hate to disappoint with tonight's news, but at least the numbers don't show any upwards moves.

All the best,

George Murphy
Twitter @GeorgeMurphyMHA 

Price changes for Thursday, April 17th, 2014

Here's what I have for Thursday's price changes.

Not good.

Heating and stove oils show an added 63/100ths of a cent.
Diesel fuel shows an added 1.1 cents a litre, and...
Gasoline shows an added 5 cents a litre at the pumps.

A draw on gasoline inventories may have been a huge factor in this week's increase, all in spite of a good build of inventory of crude oil.

I guess with snow on the melt, the gulls in the markets are taking advantage of warming weather ahead of the summer driving season. We'll keep an eye for anything happening in the markets that may drive prices up again and give everyone a better heads-up for next week.

The Canadian dollar remained about equal to its US counterpart in spite of the $3 US increase in crude prices.

That's it this week!

Regards,

George Murphy, MHA
St. John’s East
Twitter @GeorgeMurphyMHA

Price changes for Thursday, April 10, 2014

Hi to all,

Here's what I have for this Thursday's price changes.
Keep in mind that the winter blending of heating and diesel fuels is now over and that my numbers, while maybe off this week, should be accurate for next week.

Here's what I have:

Heating and stove oils to drop by 1.77 cents a litre.
Diesel to drop by 2.2 cents a litre, and...
Gasoline to increase this week by 1.8 cents a litre.

Markets are anticipating another drop in gasoline inventories as recorded by the US Energy Information Administration. That inventory report will be released Wednesday, around 1:30PM Newfoundland time. We'll see what the report says.

The Canadian dollar showed an increase against the US greenback at the end of this pricing session with the increase in crude oil prices, that averaged a rough $2 US a barrel. Further disruptions in crude oil to the markets is cited for that increase.

That's it for this week! Feel free to share it around.

Regards,


George
Twitter @GeorgeMurphyMHA

Price changes for Thursday, April 3, 2014

Hi to everyone!

Hope you're all dug out now...

Here's what I have for this Thursday's price changes, bearing in mind that we're still under the guides of the winter blending of heating oil and diesel fuel, so those numbers may be off somewhat...

Heating and stove oils show an added 38/100ths of a cent a litre.
Diesel fuel shows a drop of just 3/10ths of a cent a litre, and...
Gasoline shows a drop of 1.4 cents making its way down the pipes.

My usual margin for error is 3/10ths of a cent, so, it doesn't look like too many price changes, except for gasoline.

That’s it for now!

Regards,

George Murphy

Twitter @GeorgeMurphyMHA