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Tuesday, March 01, 2016

Price changes for Thursday, March 3, 2016

Good evening everyone,

Here's what I have for this week's price changes. Keep in mind the winter blend that may throw off the heating and diesel numbers a little. As well, don't forget my margin for error is three tenths of a cent a litre!

*Heating and stove oils show a 4/10ths of a cent a litre increase....
*Diesel fuel shows an added 3/10ths of a cent, and...
*Gasoline shows an added 1.1 cents a litre increase.


Market Highlights

*The Canadian dollar continues to rise against the US greenback, this week with the Canadian dollar rising almost 2.5 cents against it's competitor from south of the border. It's been rising slightly in par with increasing oil prices. Brent prices have increased this past week from Wednesday's $33.91 a barrel to today's $36.24 US.

*February production numbers show that most OPEC members are sticking by a self-imposed fix in output first proposed by member Saudi Arabia. Numbers show that the Saudi's are sticking pretty close to their January production of 10.2 million barrels a day in February as well. The exception here is with Iran, who produced more than 140,000 barrels a day more in February than in January, hitting 3 million barrels a day since sanctions were lifted.

The weak news on OPEC here is that production remained at a fairly strong 33.06 million barrels a day, down just 79,000 barrels from January figures.

That's enough for this week!

Any comments, feel free to leave them here, or drop me a note!

Regards,

George Murphy
Twitter @GeorgeMurphyOil

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