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Tuesday, June 10, 2014

Price changes for Thursday, June 12, 2014

Hi to all!

Don't expect too much in the way of price changes this time around as the markets still search for consumer demand to increase. With consumers still not ready to buy at these high prices, it's understandable to see why prices ate steady again this week.

Here's what I have:

Heating, stove oils and Diesel fuel to drop by just 2/10ths of a cent a litre.
Gasoline to drop by just 6/10ths of a cent a litre.

The Canadian dollar remains relatively steady against the US Greenback, with refiner capacity up another two percentage points to sit at just over 90 per cent. A drawdown on inventory of crude oil was offset somewhat by gains in both gasoline and distillate inventories.

Looks like a "what you see is what you're going to get" scenario shaping up for the rest of the summer. Another week or so, and we'll enter the August buying period where we'll see some demand for gasoline drop off slightly as the summer driving season comes to a close. If they're going to try and make a profit off any speculation, then the speculators will try again soon. Time is running out for this summer for them!

That's it again for this week!

My regards to all!

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

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