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Tuesday, February 24, 2015

Price changes for Thursday, February 26, 2015

Updated numbers for Thursday, February 26th price changes:

Heating and stove oils to add 4.08 cents a litre.
Diesel fuel to add 6.4 cents a litre, and...
Gasoline to add 1.4 cents a litre.

If there's any good news out of this, it's that after today's trading, we should be back at seeing a drop in prices to diesel and heating oils next week. Spot prices returned today to "pre-runup" levels. They retreated today by about 25 cents a US gallon. I guess the speculators decided to get out before the latest word on inventories building tomorrow.

If you have enough to go it until next week, then you might want to hold off until then. You're also a little better off if you got the phone-call in before the price is due to increase midnight tomorrow.

The Canadian dollar mostly held steady as compared to the previous session. Last week also saw the total rig count remain mostly steady, which leads me to believe that smaller producers are seeing a flattening out of prices and are getting set to "explore" again. I'll keep watching that one.

Anyway, word is to hold off again for another week if you can at all do it to see what happens with the "retreat" next week.

Pass the word!

Regards,

George Murphy
Twitter @GeorgeMurphyMHA

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