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Tuesday, February 03, 2015

Price changes for this week. Projections for next!

Hi to all,

Final numbers for this week's price changes are in, but I also have projected increases for next week that I'm watching. What I have done here is give you this week's increase, but on the same line, give you what I think will happen with prices for next week as well. You'll find that number at the tail end of each fuel price change I give you and in (parentheses).

Here's what I have:

Heating and stove oils show an increase of 2.45 cents a litre. (4.46c/Lt for next week projection)
Diesel shows an added 3.3 cents a litre. (5.1 cents next week)
Gasoline shows an increase of 4.5 cents a litre. (4.6 cents for next week)

These numbers I have projected for next week's price changes are based simply on the difference I have between my spot average for this week, and the spot price at market close for today. If nothing changes in the markets with refined prices from today, then these numbers should run close to what will actually happen next week.

Again, feel free to pass this around to everyone on your friends lists. Keep in mind the winter blending of diesel and heating oils. Those numbers may be off somewhat.

A strike by some US refinery workers has taken some 10 percent of refining capacity offline. That may be part reason why refined commodity prices have experienced the run-up that they have. Add to that, the effect of a lower Canadian dollar against it's US cousin, and we have the recipe for a rapid increase to Canadian consumer prices.

Both Brent crude and West Texas Intermediate crude have increased roughly $9 US a barrel over the last regulation period of seven days.

See you at the pumps!


George Murphy
Twitter @GeorgeMurphyMHA

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