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Tuesday, February 10, 2015

Price changes for Thursday, February 12, 2015

Hi to all,

Numbers are in for this Thursday's price changes. Here's what I have:

Heating and stove oils are up by four cents a litre.
Diesel prices to increase by 4.5 cents, and...
Gasoline shows an increase of 2.6 cents at the pumps.

Slightly off from what was predicted for gasoline last week, but all up just the same. Keep in mind as well that the numbers for both heating oil and Diesel may be off somewhat due to the winter blending mix…
Oil trading up all this week didn't help the situation any as the Canadian dollar lost most gains from earlier this session. Right back to where we were last week. In the meantime, over the past week, Brent crude gained about $4 US before a slight retreat today.

Most of today's drop in oil prices is directly concerned with speculators thinking that there are still worries over "over-supply" in the markets. They're anticipating that the US inventory reports out of the Energy Information Administration will show builds in overall crude oil inventory. Hopefully, gains in inventory will also be made to refined products as well to "head off" the latest increases in heating and other fuel prices next week!

That report will be out around noon our time on Wednesday. I’ll tweet the numbers they find later tomorrow, so you might want to follow me there...

That’s it for now,


George Murphy
Twitter @GeorgeMurphyMHA

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