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Tuesday, July 18, 2017

Price changes for Thursday, July 20, 2017

Hi to all,

Here’s what I have for this week’s price changes:

*Heating/stove oils show an increase of a half penny a litre.

*Diesel fuel shows an increase of 8/10ths of a cent a litre, and...

*Gasoline shows an increase of a penny at the pumps.

Strength of a demand increase reflected at the pumps this week

“Consumers will again see an up-tick in prices at the pumps this week but, as in previous weeks, it’s not going to be a shocker as gasoline prices are only expected to rise a penny a litre”. That’s from George Murphy, oil researcher.

“Modest increases in demand for gasoline have been observed over the past few weeks, and while not a threat to current prices at the pump ,any up-tick further in demand may help to increase prices again exponentially. I’m still trying to find why demand has not reached the same numbers it has last year, and that’s being reflected in the price we’re paying. You see a slight increase in demand and the price goes up, but so also does the Canadian dollar saving us a few pennies.

“If anything, I’m noticing an early entry by some into the distillate markets, which is also a strong signal that the summertime gasoline market is pretty much a write-off. With September buying contracts already out, it’s a safe bet to say that summer prices will pretty much stay around the same level we’re all looking at now”.


For more information, contact:

George Murphy

Twitter @GeorgeMurphyOil

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