Final numbers for Thursday price changes...
Here's what I have for price changes for this Thursday. After today's drop, it all added up to just a little bit more...
Heating and stove oils to drop by 7.42 cents a litre.
Diesel to drop by 10.1 cents, and...
Gasoline shows a drop of 2.2 cents a litre.
It was great to see a return of distillate prices to something of the
norm before the run-up last week. Unfortunately, prices dropped a little
later than predicted, but they're still showing in this week's numbers
Prices dropped further today as speculators pulled out
of the distillate markets, the reason being that refiner capacity is
almost back to normal with just 690,000 barrels a day offline south of
the border. it's also the simple fact that things are going to start to
warm up now as we get back towards spring. It was time to get out.
Gasoline, not so much, although tomorrow's inventory numbers may
reflect the reality that "demand" is simply not there. That may be
enough to keep gas prices from starting further down, but I'm keeping a
close eye to the usual excuse used as we get closer to the "summer
demand" seasonal run-up as we get closer to May month's traditional
start to the driving season.
That's it for this week!