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”.
-30-
For more
information, contact:
George Murphy
Twitter
@GeorgeMurphyOil
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