Hi to all,
Here’s what I have
for this week’s price changes:
*Heating, stove oil
and Diesel fuel all show a drop of 3/10ths of a cent a litre.
*Gasoline shows a
drop of 2.5 cents a litre.
Consumers to get another break at the
pumps
“Consumers in
Newfoundland and Labrador, New Brunswick and Nova Scotia can expect to see a
break at the pumps again this week when their various regulatory authorities
adjust prices”. That’s according to George Murphy of the Consumer Group for
Fair Gas Prices.
Newfoundland and
Labrador, as well as New Brunswick both set their prices as of Wednesday at
midnight, while Nova Scotia adjusts prices Thursday midnight.
“In the wake of
Harvey, we’re starting to see refiner capacity climb while gasoline inventories
also rise. Gasoline inventories increased last week with refinery capacity
still below what it was “pre-Harvey”, Murphy said. “With capacity still not
back to those levels, it is reasonable to assume that the markets will be
looking at two important factors in the equation, the first being no panic
buying ahead of the storms which immediately takes pressure off gasoline, and
two, the fact that we’re looking at gasoline being produced in excess while
capacity is low. Almost seven per cent lower than before Harvey landed.
“I’ll be watching
tomorrow’s inventory data to see if the trend looks to be continuing falling
prices as refiners are also into the switch from refining gasoline to the
refinement of distillates and winter gasoline blends as the weather cools.
Gasoline shows a strong sign of weakening demand here, so hopefully, prices
will drop further in the favour of the consumer”.
-30-
For more
information, contact;
George Murphy
Twitter
@GeorgeMurphyOil
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