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Tuesday, December 09, 2014

Price changes for Thursday, December 11, 2014

Hi to all,

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

Heating and stove oils show a drop of 3 cents a litre.
Diesel shows a drop of 4.1 cents a litre, and...
Gasoline shows a drop of 5.6 cents a litre.


Keep in mind that these numbers are off the regulated maximum. St. John's East could be looking at under a buck a litre by Monday/Tuesday of this drop comes into effect.

I was off last week on the gas numbers, the most in months, however, I believe I wasn't really that far off as Halifax prices dropped steeply last week by better than six cents a litre. They're measured just a day apart from us here. I think the gasoline number should be a little closer this time around, but don't forget that there's still a very volatile market out there, and of course, we're still dealing with the winter heating and Diesel blends!

Oil starting to flatten?
The Asian countries are the beneficiaries of some pretty good deals on oil as Saudi Arabia is still competing with US producers. Seems as though the challenge is on and we're starting to see some US companies starting to park their plans to frack for more oil in 2015. We may be witnessing a flattening of oil output from the US, and hence, a slowdown in drops to prices, and perhaps some stability to oil and refined product.
We'll see what happens in the markets, but the last measure I had of oil producing rigs and drilling projects still didn't make it apparent that drilling was stopping. Question is, are the Saudi's ready to keep prices steady?

I'll keep an eye out.

Airline fuel surcharges should come down
In the meantime, airline customers should be asking their respective carriers why they haven't returned some savings back to customers. Jet fuel prices have also retreated sharply, with jet fuel at 86 cents a litre Canadian in June to today's 64 cents a litre. It would be a nice travel season discount to regular flyers who have been paying a fortune in airline fuel surcharges as of late. That's close to 25 percent less than what it was in June month.

That's it for now!

Regards and safe travels!

George
Twitter @GeorgeMurphyMHA

5 comments:

Table Mountains said...

Thank you.

davidbaeley said...

Is this news applied for all oil and gas plants industries??...

Robert Ford said...

Regarding your last remarks about fuel surcharge, would this also be the case in Northern Labrador?

Robert Ford said...

With regards to your last remarks about the price of Jet Fuels, would this also be relevant to Northern Labrador?

George said...

Hi Robert.
Just seeing these comments. Jet fuels are still down, so we should be asking about breaks for consumers on jet fares. That there is no doubt!