Hi to all,
Here’s what I have for this Thursday’s price changes:
*Heating/stove oils to increase by 4.1 cents a litre.
*Diesel fuel to increase by three cents a litre, and...
*Gasoline to increase by 3.5 cents a litre.
Bolton appointment continues to fan the oil markets
John Bolton seems to be a nice enough fella...
At least to Donald Trump.
He’s now a member of the Trump cabinet and was a key adversary of the Iran nuclear deal reached between Obama and six other nations sitting around the U.N security council, and Germany. The deal signed a few years back saw Iran increase its oil exports in return for promising to shut down it’s nuclear aspirations.
Markets are still trading oil higher as speculators see the possibilities of another extended Middle East conflict between Saudi Arabia and Iran, a problem that was given fuel with Crown Prince Bin Salman meeting with Trump earlier this week.
The provincial budget is in and there’s really no surprises in it.
While the province held back on the remaining four cents a litre in gas taxes that first came in back in Budget 2016, they did commit to dropping the gas tax immediately upon implementation of a new carbon tax due to hit the people of the province in January of 2019.
Further, the province has set the budget based on $63 US a barrel.
With eleven opinions of where oil will be, the government settled on those opinions.
I personally wouldn’t have gone beyond $55 US. We’ve been here before and the markets are certainly volatile with U.S domestic production set to break the eleven million barrel a day mark in a couple of months. True, that geo-politics may reign supreme in the news right now, but anything is possible and can’t be discounted.
That’s it for this week!