Tuesday, July 22, 2014
Price changes for Thursday, July 24, 2014
Hi to all,
All numbers are in, and, as I said earlier, don't expect much in the way of price changes.
Here's what I have for this Thursday:
Heating and stove oils to increase by just 4/100ths of a cent.
Diesel to increase by 3/100ths of a cent, and...
Gasoline to drop a half penny.
My margin for error is 3/10ths, so take it from there. No panic this week!
At least we won't see a wild increase. Fourth week in a row to see a drop in gasoline prices, as little as it might be.
Highlights
The Canadian dollar remained relatively steady against its US counterpart with the Canuck Buck averaging $1.074 against the US currency.
The price of oil gained an average of $3 US on the markets as continuing violence in the Middle East as well as the diplomatic tension created with the crash of Malaysia 17 in the Ukraine. Some fears in the markets are mostly centered around Brent prices as Europe is heavily dependent upon Russian exports of oil as well as natural gas through the Ukraine region. As you can tell by the numbers in the price changes, there was little effect on spot prices, which remained relatively steady on the refined spot markets.
That’s it for this week!
Regards,
George Murphy
Twitter: @GeorgeMurphyMHA
Tuesday, July 15, 2014
Price changes for Thursday, July 17th, 2014
Hi to everyone,
Here's what I have for this Thursday's price changes:
Heating and stove oils to drop by just 81/100ths of a cent a litre.
Diesel to drop by 1.1 cents a litre, and...
Gasoline to drop by 1.6 cents a litre.
The Canadian dollar dropped a penny on average against the US greenback over this pricing session. That, in essence, cost consumers a rough penny in the numbers. While they're all down, the numbers give you a sense of how the Canadian dollar is so tied to raw export of resources. Not only do we ship out jobs, but it cost us to do it. In this case, while the price of oil has slipped some this past week, the support for the dollar has weakened as a result.
So endeth the economic lesson for today!
We can enjoy the lower price anyway, but at a cost...
Regards,
George Murphy
Twitter: @GeorgeMurphyMHA
Here's what I have for this Thursday's price changes:
Heating and stove oils to drop by just 81/100ths of a cent a litre.
Diesel to drop by 1.1 cents a litre, and...
Gasoline to drop by 1.6 cents a litre.
The Canadian dollar dropped a penny on average against the US greenback over this pricing session. That, in essence, cost consumers a rough penny in the numbers. While they're all down, the numbers give you a sense of how the Canadian dollar is so tied to raw export of resources. Not only do we ship out jobs, but it cost us to do it. In this case, while the price of oil has slipped some this past week, the support for the dollar has weakened as a result.
So endeth the economic lesson for today!
We can enjoy the lower price anyway, but at a cost...
Regards,
George Murphy
Twitter: @GeorgeMurphyMHA
Tuesday, July 08, 2014
Price Changes for July 10, 2014
Hi to all,
Here's what I have for this week's changes. Looks like we can keep some "klink" in our pockets at the end of the week!
Heating and stove oils show a drop of 2.92 cents a litre on the way.
Diesel shows a drop of 2.7 cents a litre, and...
Gasoline shows a drop of 1.7 cents a litre.
Libyan exports have started, and that's added close to another 560,000 barrels of Brent crude to the markets. While oil prices declined, it seemed that attacks by the ISIS militants has not affected any exports from Iraq as well.
Good news for further exports entering the markets, and the more available out there, the less problems getting hold of the stuff.
The only downside here is that while prices for oil are slipping, the Canadian dollar is starting to lose a little ground against the US dollar. In other words, while prices decline, they may slow...
That's it for this week!
Regards to all,
George Murphy
Twitter @GeorgeMurphyMHA
Here's what I have for this week's changes. Looks like we can keep some "klink" in our pockets at the end of the week!
Heating and stove oils show a drop of 2.92 cents a litre on the way.
Diesel shows a drop of 2.7 cents a litre, and...
Gasoline shows a drop of 1.7 cents a litre.
Libyan exports have started, and that's added close to another 560,000 barrels of Brent crude to the markets. While oil prices declined, it seemed that attacks by the ISIS militants has not affected any exports from Iraq as well.
Good news for further exports entering the markets, and the more available out there, the less problems getting hold of the stuff.
The only downside here is that while prices for oil are slipping, the Canadian dollar is starting to lose a little ground against the US dollar. In other words, while prices decline, they may slow...
That's it for this week!
Regards to all,
George Murphy
Twitter @GeorgeMurphyMHA
Tuesday, July 01, 2014
Price changes for Thursday, July 3, 2014
Happy Canada Day everyone!
Here's what I have for this Thursday's price changes.
Heating and stove oils show a drop of 2.52 cents a litre.
Diesel shows a drop of 3.1 cents a litre on the way, and...
Gasoline also shows a drop of 2.4 cents a litre.
Numbers were a little off last week, so, either way, they will still be down. I missed some market volatility at the tail end of last week's session.
In spite of ongoing violence in Iraq, markets showed a modest "retreat" because of bad economic data, showing that the US economy still has some improvement to do before things are straight. The biggest news showed gasoline demand had dropped close on four percentage points as compared to the same time-frame last year. That speaks volumes about what consumers are still thinking about prices at the pumps.
If there's any bad news in the numbers, it's still the fact that there has been only about a four cent drop in heating and stove oil prices since January's numbers. That doesn't say a lot about heating and stove oil prices getting any cheaper before winter. Still a ways to go yet before I can call the shot on what to expect for the winter, but it doesn't look any better than last year right now.
Feel free to share this message!
That's it for this week!
Regards to all,
George Murphy
Twitter @GeorgeMurphyMHA
P.S There's a new law coming into effect having to do with "spamming" that I'll have to look into. Apparently, one has to be asked to subscribe all over again in order to "get permission" to send this to everyone. I'll have to check into the effects on an auto-send feature such as this blog has, so, if you don't want to get this blog-post via your email again, please feel free to use the "unsubscribe" feature on the email you receive!...
Here's what I have for this Thursday's price changes.
Heating and stove oils show a drop of 2.52 cents a litre.
Diesel shows a drop of 3.1 cents a litre on the way, and...
Gasoline also shows a drop of 2.4 cents a litre.
Numbers were a little off last week, so, either way, they will still be down. I missed some market volatility at the tail end of last week's session.
In spite of ongoing violence in Iraq, markets showed a modest "retreat" because of bad economic data, showing that the US economy still has some improvement to do before things are straight. The biggest news showed gasoline demand had dropped close on four percentage points as compared to the same time-frame last year. That speaks volumes about what consumers are still thinking about prices at the pumps.
If there's any bad news in the numbers, it's still the fact that there has been only about a four cent drop in heating and stove oil prices since January's numbers. That doesn't say a lot about heating and stove oil prices getting any cheaper before winter. Still a ways to go yet before I can call the shot on what to expect for the winter, but it doesn't look any better than last year right now.
Feel free to share this message!
That's it for this week!
Regards to all,
George Murphy
Twitter @GeorgeMurphyMHA
P.S There's a new law coming into effect having to do with "spamming" that I'll have to look into. Apparently, one has to be asked to subscribe all over again in order to "get permission" to send this to everyone. I'll have to check into the effects on an auto-send feature such as this blog has, so, if you don't want to get this blog-post via your email again, please feel free to use the "unsubscribe" feature on the email you receive!...
Tuesday, June 24, 2014
Price changes for Thursday, June 26th, 2014
Hi to all,
Here's what I have for this Thursday's price changes:
Heating and stove oils add 83/100ths of a cent a litre.
Diesel fuel adds 1.7 cents a litre, and...
Gasoline adds a cent a litre.
The Canadian dollar picked up a penny against the US dollar over the past week on an increase in refined commodity prices. Oil stayed relatively steady over the past week on Iraq violence, peaking at just over $107 WTI before retreating slightly. There is still considerable worry over whether militants in Iraq will manage to take Baghdad. The concern here is a complete collapse of the present government if they do. The areas to the immediate southeast of Baghdad are responsible for about 75 percent of Iraqi exports and production.
Even then, Iraqi production and exports represents just 10% of OPEC production, and even smaller worldwide. Other areas worldwide have been showing increasing production, probably enough to offset any loss of product directly to the markets. But will it be enough to satisfy the market speculators?
I'll continue to keep an eye to things, supplying any updates or radical changes to spot pricing if necessary.
That's it for now!
Regards,
George Murphy
Twitter @GeorgeMurphyMHA
Monday, June 16, 2014
Numbers still show prices to increase on Thursday...
Feel free to share this one around!
Update for everyone after today's market activity, all hinging on Iraq of course!
Here's what I have with six days data in:
Heating and stove oils are up by 2.32 cents a litre.
Diesel is up by 2.7 cents a litre.
Gasoline is up by 2.2 cents a litre.
I think an important thing to note here is that the markets were a little skittish about the weakness of the economic recovery, and they have good reason to be. If you look at your own disposable income, you know yourself that things are tight and have been for a while.
if there is a shut-down of Iraqi production, and oil climbs higher, traders and speculators know it's going to cause huge economic problems for everyone. That's part reason why oil prices haven't gone completely off the deep end!
I'll have the last update with final numbers tomorrow night, but what you see here now is what is most likely to occur this week in Newfoundland and Labrador.
It's situations like this in the markets that has me thanking fuel price regulation again. At least we're not getting screwed like they have been in other major centers in the country who's prices are up on "panic" alone!
Regards,
George Murphy
Twitter @GeorgeMurphyMHA
Update for everyone after today's market activity, all hinging on Iraq of course!
Here's what I have with six days data in:
Heating and stove oils are up by 2.32 cents a litre.
Diesel is up by 2.7 cents a litre.
Gasoline is up by 2.2 cents a litre.
I think an important thing to note here is that the markets were a little skittish about the weakness of the economic recovery, and they have good reason to be. If you look at your own disposable income, you know yourself that things are tight and have been for a while.
if there is a shut-down of Iraqi production, and oil climbs higher, traders and speculators know it's going to cause huge economic problems for everyone. That's part reason why oil prices haven't gone completely off the deep end!
I'll have the last update with final numbers tomorrow night, but what you see here now is what is most likely to occur this week in Newfoundland and Labrador.
It's situations like this in the markets that has me thanking fuel price regulation again. At least we're not getting screwed like they have been in other major centers in the country who's prices are up on "panic" alone!
Regards,
George Murphy
Twitter @GeorgeMurphyMHA
Saturday, June 14, 2014
Iraq violence continues: Update on the markets
A fuel price update....
Watching the markets closely with all the violence in Iraq (what else is new?) and, while the numbers are up, they're not up as much as what everyone was expecting at this point.
Here's what I have so far with five days data heading into next week's price changes:
Watching the markets closely with all the violence in Iraq (what else is new?) and, while the numbers are up, they're not up as much as what everyone was expecting at this point.
Here's what I have so far with five days data heading into next week's price changes:
Heating and stove oils add 2.2 cents a litre.
Diesel adds 2.5 cents a litre, and...
Gasoline adds 2.1 cents a litre.
The markets look like they're more concerned about consumer demand moreso than any possible supply disruption.
I'll update again Monday!
Regards,
George Murphy, MHA, St. John's East
Twitter @GeorgeMurphyMHA
Diesel adds 2.5 cents a litre, and...
Gasoline adds 2.1 cents a litre.
The markets look like they're more concerned about consumer demand moreso than any possible supply disruption.
I'll update again Monday!
Regards,
George Murphy, MHA, St. John's East
Twitter @GeorgeMurphyMHA
Tuesday, June 10, 2014
Price changes for Thursday, June 12, 2014
Hi to all!
Don't expect too much in the way of price changes this time around as the markets still search for consumer demand to increase. With consumers still not ready to buy at these high prices, it's understandable to see why prices ate steady again this week.
Here's what I have:
Heating, stove oils and Diesel fuel to drop by just 2/10ths of a cent a litre.
Gasoline to drop by just 6/10ths of a cent a litre.
Don't expect too much in the way of price changes this time around as the markets still search for consumer demand to increase. With consumers still not ready to buy at these high prices, it's understandable to see why prices ate steady again this week.
Here's what I have:
Heating, stove oils and Diesel fuel to drop by just 2/10ths of a cent a litre.
Gasoline to drop by just 6/10ths of a cent a litre.
The Canadian dollar remains relatively steady against the US Greenback,
with refiner capacity up another two percentage points to sit at just
over 90 per cent. A drawdown on inventory of crude oil was offset
somewhat by gains in both gasoline and distillate inventories.
Looks like a "what you see is what you're going to get" scenario shaping up for the rest of the summer. Another week or so, and we'll enter the August buying period where we'll see some demand for gasoline drop off slightly as the summer driving season comes to a close. If they're going to try and make a profit off any speculation, then the speculators will try again soon. Time is running out for this summer for them!
That's it again for this week!
My regards to all!
George Murphy, MHA, St. John's East
Twitter: @GeorgeMurphyMHA
Looks like a "what you see is what you're going to get" scenario shaping up for the rest of the summer. Another week or so, and we'll enter the August buying period where we'll see some demand for gasoline drop off slightly as the summer driving season comes to a close. If they're going to try and make a profit off any speculation, then the speculators will try again soon. Time is running out for this summer for them!
That's it again for this week!
My regards to all!
George Murphy, MHA, St. John's East
Twitter: @GeorgeMurphyMHA
Tuesday, May 27, 2014
In Case I Can't Post Later Tonight!....
Seven days data in.(Updated!)
I'm not sure that I'm going to be able to post updated numbers based on today's market moves simply because the House of Assembly is open tonight and I don't know if I'm going to get the chance...(I did!)
Here's what I have for Thursday so far, with one more day of data due:
Heating, stove oils and Diesel fuel show little change with just 2/10ths of a cent a litre drop showing up.
Gasoline shows an increase of 1.3 cents a litre on the backside of the US Memorial Day weekend holiday.
The summer driving season is now on. Prices after Thursday's price changes may be what you'll see for June and July.
See what happens!
These are the final numbers.
Regards,
George Murphy
Twitter @GeorgeMurphyMHA
I'm not sure that I'm going to be able to post updated numbers based on today's market moves simply because the House of Assembly is open tonight and I don't know if I'm going to get the chance...(I did!)
Here's what I have for Thursday so far, with one more day of data due:
Heating, stove oils and Diesel fuel show little change with just 2/10ths of a cent a litre drop showing up.
Gasoline shows an increase of 1.3 cents a litre on the backside of the US Memorial Day weekend holiday.
The summer driving season is now on. Prices after Thursday's price changes may be what you'll see for June and July.
See what happens!
These are the final numbers.
Regards,
George Murphy
Twitter @GeorgeMurphyMHA
Wednesday, May 07, 2014
Price changes for Thursday, May 8th, 2014
Hi to all,
Sorry this is late. We had a late sitting
of the House tonight.
Final numbers for Thursday, May 8th price
changes.
All the data in now. Here's what I have. All for the better from today's earlier tweet!
Heating and stove oils to drop by 2.46 cents a litre.
Diesel down by 2.6 cents a litre, and...
Gasoline to drop now by 4.1 cents a litre.
The Canadian dollar has gained slightly against its US counterpart, finishing today at $1.089 against the Greenback.
Prices are probably down in the markets as a result of consumer sentiments about high prices. No doubt, as we're all a little peeved about rising prices. Speculators have heard the arguments and seem to be pulling back somewhat until stronger demand signals kick in.
The markets are "touchy". Even with high sentiments about prices, oil prices didn't gain on the surprising jobless numbers out of the US, possibly reflective of the improving US economy. Speculators took consumer sentiment over the positive economic figures in the US this time around it seems.
Add to that, the fact that there's still not so good news out of China. Remains a factor to play out here, as any good news from there may be enough to turn oil prices up.
Keep conserving and "expressing" dis-satisfaction with prices, and we'll all impact inventory! That's key right now!
All the best!
All the data in now. Here's what I have. All for the better from today's earlier tweet!
Heating and stove oils to drop by 2.46 cents a litre.
Diesel down by 2.6 cents a litre, and...
Gasoline to drop now by 4.1 cents a litre.
The Canadian dollar has gained slightly against its US counterpart, finishing today at $1.089 against the Greenback.
Prices are probably down in the markets as a result of consumer sentiments about high prices. No doubt, as we're all a little peeved about rising prices. Speculators have heard the arguments and seem to be pulling back somewhat until stronger demand signals kick in.
The markets are "touchy". Even with high sentiments about prices, oil prices didn't gain on the surprising jobless numbers out of the US, possibly reflective of the improving US economy. Speculators took consumer sentiment over the positive economic figures in the US this time around it seems.
Add to that, the fact that there's still not so good news out of China. Remains a factor to play out here, as any good news from there may be enough to turn oil prices up.
Keep conserving and "expressing" dis-satisfaction with prices, and we'll all impact inventory! That's key right now!
All the best!
George Murphy
Twitter @GeorgeMurphyMHA
Wednesday, April 30, 2014
Price changes for Thursday, May 1st, 2014
Sorry I'm late, but work had to come first and foremost...
Disappointing news from the markets today. As a matter of fact, all week.
Here's what I have for this week's price changes:
Heating oil shows a drop of just 39/100ths of a cent a litre.
Diesel shows just a drop of 7/10ths of a cent a litre.
Gasoline: Down just 1/10th of a cent on a litre.
Sickening to see no change. Wednesday's inventory report, if it shows any increase in gasoline supply, may start to move prices down.
But if they show a draw on inventory, it could move prices the opposite direction. Needless to say, I'll be watching for that inventory report when it comes around.
Hate to disappoint with tonight's news, but at least the numbers don't show any upwards moves.
All the best,
George Murphy
Twitter @GeorgeMurphyMHA
Disappointing news from the markets today. As a matter of fact, all week.
Here's what I have for this week's price changes:
Heating oil shows a drop of just 39/100ths of a cent a litre.
Diesel shows just a drop of 7/10ths of a cent a litre.
Gasoline: Down just 1/10th of a cent on a litre.
Sickening to see no change. Wednesday's inventory report, if it shows any increase in gasoline supply, may start to move prices down.
But if they show a draw on inventory, it could move prices the opposite direction. Needless to say, I'll be watching for that inventory report when it comes around.
Hate to disappoint with tonight's news, but at least the numbers don't show any upwards moves.
All the best,
George Murphy
Twitter @GeorgeMurphyMHA
Tuesday, April 15, 2014
Price changes for Thursday, April 17th, 2014
Here's what I have for Thursday's price changes.
Not good.
Heating and stove oils show an added 63/100ths of a cent.
Diesel fuel shows an added 1.1 cents a litre, and...
Gasoline shows an added 5 cents a litre at the pumps.
A draw on gasoline inventories may have been a huge factor in this week's increase, all in spite of a good build of inventory of crude oil.
I guess with snow on the melt, the gulls in the markets are taking advantage of warming weather ahead of the summer driving season. We'll keep an eye for anything happening in the markets that may drive prices up again and give everyone a better heads-up for next week.
The Canadian dollar remained about equal to its US counterpart in spite of the $3 US increase in crude prices.
That's it this week!
Regards,
George Murphy, MHA
St. John’s East
Twitter @GeorgeMurphyMHA
Tuesday, April 08, 2014
Price changes for Thursday, April 10, 2014
Hi to all,
Here's what I have for this Thursday's price changes.
Keep in mind that the winter blending of heating and diesel fuels is now over and that my numbers, while maybe off this week, should be accurate for next week.
Here's what I have:
Heating and stove oils to drop by 1.77 cents a litre.
Diesel to drop by 2.2 cents a litre, and...
Gasoline to increase this week by 1.8 cents a litre.
Markets are anticipating another drop in gasoline inventories as recorded by the US Energy Information Administration. That inventory report will be released Wednesday, around 1:30PM Newfoundland time. We'll see what the report says.
The Canadian dollar showed an increase against the US greenback at the end of this pricing session with the increase in crude oil prices, that averaged a rough $2 US a barrel. Further disruptions in crude oil to the markets is cited for that increase.
That's it for this week! Feel free to share it around.
Regards,
George
Twitter @GeorgeMurphyMHA
Here's what I have for this Thursday's price changes.
Keep in mind that the winter blending of heating and diesel fuels is now over and that my numbers, while maybe off this week, should be accurate for next week.
Here's what I have:
Heating and stove oils to drop by 1.77 cents a litre.
Diesel to drop by 2.2 cents a litre, and...
Gasoline to increase this week by 1.8 cents a litre.
Markets are anticipating another drop in gasoline inventories as recorded by the US Energy Information Administration. That inventory report will be released Wednesday, around 1:30PM Newfoundland time. We'll see what the report says.
The Canadian dollar showed an increase against the US greenback at the end of this pricing session with the increase in crude oil prices, that averaged a rough $2 US a barrel. Further disruptions in crude oil to the markets is cited for that increase.
That's it for this week! Feel free to share it around.
Regards,
George
Twitter @GeorgeMurphyMHA
Tuesday, April 01, 2014
Price changes for Thursday, April 3, 2014
Hi to everyone!
Hope you're all dug out now...
Here's what I have for this Thursday's price changes, bearing in mind that we're still under the guides of the winter blending of heating oil and diesel fuel, so those numbers may be off somewhat...
Heating and stove oils show an added 38/100ths of a cent a litre.
Diesel fuel shows a drop of just 3/10ths of a cent a litre, and...
Gasoline shows a drop of 1.4 cents making its way down the pipes.
My usual margin for error is 3/10ths of a cent, so, it doesn't look like too many price changes, except for gasoline.
That’s it for now!
Regards,
George Murphy
Twitter @GeorgeMurphyMHA
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