Hi to all,
Here’s what I have for this week’s price changes:
*Heating and stove oils show an increase of 1.3 cents a litre.
*Diesel fuel shows an increase of 2.2 cents a litre, and...
*Gasoline shows no changes at the pumps this week.
Gasoline remained relatively steady even as refined gasoline showed gains in U.S dollar terms, there was enough gain by the Canadian dollar these past two weeks to absorb any increase this week to prices.
However, a sharp rise in gasoline prices today on the New York exchange does lead me to believe that numbers will be up slightly, all contingent on U.S inventory data that is due out tomorrow.
Right now, gasoline shows up for next week by 1.7 cents. Stay tuned for next Tuesday’s release!
Crude oil turns higher
Crude oil prices were supported this week on two main stories, the first centering around the possible disruption of exports from Ceyhan, Turkey as infighting continues around Iraq’s major northwest oil fields control. That leaves a struggle between Kurdish and Iraqi forces for control of the northwestern located oil fields immediately ahead of a referendum seeking Kurdish independence. Turkey is threatening to close the pipeline if the vote goes ahead.
Word from OPEC also this week that saw some support for oil as they claim that OPEC-led cuts last year are beginning to bite into world supply. OPEC claims that cuts are dropping ahead of some uptick in demand from countries like China.
That’s it for this week!