Price spike warning!

After Christmas blues, or positive economic news from the world markets, either way, numbers show prices moving up this week!

Here's what I have for the "six day":

• Heating and stove oils show an increase of 1.42 cents.
• Diesel shows an added 1.5 cents a litre, and...
• Gasoline shows an additional 3.2 cents to prices for Thursday coming.

I'll be back tomorrow night with the full seven days of data, but it doesn't look good for the week, regardless of what happens tomorrow.

Catch you here then!

George

Update!

The "seven day" now shows some slight change in the numbers for this week. Here's what I have:

• Heating and stove oils to increase by 1.37 cents.
• Diesel to increase by 1.4 cents, and...
• Gasoline to increase by 3.0 cents, a drop of two tenths from yesterday's numbers.
  

Numbers up for most fuels

Media release

Conception Bay South, NL, December 21, 2010 - Consumers in Newfoundland and Labrador will see a slight upwards movement in prices when the PUB adjusts prices this Thursday. That's according to George Murphy of the Consumer Group for Fair Gas Prices.

"There hasn't been a big move in oil prices, but refined commodity prices are another thing, albeit they haven't moved a great deal. I expect heating and stove oils to increase by 1.13 cents a litre, diesel to increase by an even penny, and gasoline to increase by 1.2 cents a litre. These numbers are up slightly as a result of an increase in the US dollar against the Canadian currency with the canuck buck losing almost a cent and a half against its US counterpart," said Murphy.

"Distillates remain under heavy pressure as a result of colder weather in both the US and Europe and that has helped to support oil prices as well as support those fuels from the distillate group of fuels, namely diesel, heating and stove oils. As we enter into the depths of the heating season, I expect that upwards pricing pressure will continue to support prices where they are at present."

-30-

For more information, contact;

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices

Numbers are up slightly

This weeks numbers are up slightly amidst signs that the US dollar has gained a little strength and that there's some economic troubles on this side of the border that has precipitated the slide in our own currency.

Oil has stayed mostly steady, but commodity prices are in flux with some changes worthy of note.

While distillate prices have stayed relatively steady over the past week, for the last day I have on record showed gasoline numbers to be out of whack with what distillates are showing. An oddity I sometimes wonder about.

Here's an example:

While heating oils sold at $2.46.24 on Friday, they showed little change in Monday trading, remaining relatively steady at $2.47.32, a change of 1.08 cents a litre.

Gasoline was the difference that I noted though. Friday's trading session showed gasoline at $2.33.53 a US gallon, while Monday's market close showed an increase to $2.42.03 cents a US gallon, or an increase from Friday's 62.46 cents a litre Canadian to Monday's 65.08 cents a litre, an increase of 2.62 cents a litre from the Friday close.

The reason?

I haven't seen an explanation yet, but I'm dying to see the reasons why it's up. If it does stay up this way for the next week, we're bound to be in a cycle of another increase to gasoline prices. We are now, as it is, just not to the same degree that we would be if one were to be making plans for the return trip home from Christmas vacation.

Here's what I have for this regulation period so far:

• Heating and stove oils are up by 1.03 cents a litre.
• Diesel is up by 9/10ths, and...
• Gasoline shows an added 1.1 cents per litre.

I'll be back tomorrow night with the final numbers.

Regards,

George

Consumers to get a small break at the pumps
Distillates show little movement

Media release

Conception Bay South, NL, December 14, 2010- Consumers of gasoline will get a small break at the pumps this week when the Public Utilities Board adjusts prices this Thursday. That's according to George Murphy, group researcher with the Consumer Group for Fair Gas Prices.

"While oil has remained relatively steady in terms of price there is some question as to where inventories stand as to their correlation to prices. I believe that this retreat in prices is caused by investors belief that consumers have been left with little maneuvering room and high energy prices have started to take a bite out of consumers wallets. That seems to be supported by data from the US American Petroleum Institute (API) report which shows growth in gasoline inventory for the second week in a row. The real proof may come tomorrow when the US government's Energy Information Administration releases its inventory data. If that correlates with the API data, we may see some more retreat in pricing, as well as for oil prices", said Murphy.

What to expect with prices
"I expect no change in heating and stove oils, while diesel shows just a four tenths of a cent drop per litre. Gasoline is showing 2.2 cents a litre down for this week. While there is a build in gasoline inventory, heating and stove oils have been under considerable pressure from increased European demand as a result of cold weather there.

Consumers should question tire burning
"Consumers in this province have been charged three dollars per tire for the past few years to help institute a tire recycling program. I don't think they expect tires to be burned as fuel. It's a one time end use for something that consumers didn't want to see. Consumers expect value for their money, so tire burning doesn't endear anyone in the belief in tire recycling. We expect more bang for our three dollars a tire that we've paid. Why doesn't the government commission a study into other alternative uses for tires besides burning them? That hardly represents a recycling effort in my books. They could have used them as a aggregate in road asphalt as that material has become relatively costly in recent years. It just seems that burning tires doesn't seem to be healthy for the environment , while we recycle roads in recent years. Consumers need to know that they're getting "money for worth" when it comes to paying tire recycling fees."

-30-

For more information, contact;

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices

Gasoline numbers down

Distillates steady

Yes, I said gasoline numbers are down so far, for this weeks changes anyway.

Here's what I have so far, in a not too contentious business week:

• Heating and stove oils are down by a mere 3/100ths of a cent.
• Diesel is down by 3/10ths of a cent, and...
• Gasoline is down by 2.1 cents a litre.

Yes...

Cause for celebration maybe?

Not quite yet, but it is a welcome break from last weeks sudden rise and puts us in line with what has been happening in other markets with very modest price drops.

What I'm looking for this week

Of course, tomorrow will find me posting the full seven day synopsis on what to expect as regards to price changes for the week, but I'm also looking for signs of a drop in demand of products like gasoline just to see if price has anything correlating to last weeks build in gasoline inventory.

That news comes on Tuesday with an industry report on inventories followed on Wednesday by the US Energy Information Administrations take on inventory findings.

If so, then expect some further moderation in both distillates as well as gasoline, and that should be mirrored by a slight slide in oil prices. If demand has been affected by high prices it may be very likely an indicator that we're all dealing with very weak recovery in the economy, something for which there's much contentious debate.

For me, it's going to be another signal to Big Oil that consumers aren't going to tolerate high prices and it'll be another sign that there's very little room for maneuver by the consumer when it comes to disposable income.

You know where to find me...

Catch you all tomorrow night with the final breakdown on what to expect for Thursday.

Regards for now!

George

Numbers up for all fuels
Increased oil prices mean consumers will pay

Media release

Conception Bay South, NL, December 07, 2010- Consumers in Newfoundland and Labrador will be paying more for all fuels this coming Thursday. That's according to the information that George Murphy has gathered for the last week, and the numbers are substantial.

"We're looking at increases in pricing across the board", said Murphy. "Prices are reflective of what has been happening in the markets over the past week, and the consumer is going to pay as a result of an increase in refined commodities."

"I expect heating and stove oils to increase by 2.69 cents per litre, diesel shows an increase of 2.3 cents and gasoline is up by four cents on a litre for Thursday. There was some retreat in oil prices that was just not enough to bring those numbers the other way, but what I did see in the numbers for the past two days is reflective of what we might expect in the coming weeks: the possibility that European Union countries like Ireland and Portugal may not be able to meet their financial targets. That could lead to faltering economic recovery, ending in a retreat in oil prices altogether. We're keeping an eye to those countries to see if they meet their previous commitments to pay down their debt. Any austerity programming that these countries do bring in could potentially affect consumer spending and affect exports from countries like the United States and Canada, and that could mean economic troubles down the road. Either way, the markets and consumers are both reaching a breaking point: markets for how much they can earn the investor and consumers for how much they can bear high energy prices before they curtail spending."

-30-

For more information, contact;

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices
gasprices@hotmail.com please

Price spike warning!

Just to let everyone know that I have been tracking a large increase in prices for this Thursday coming.

Here's what I have so far this week, five days reporting:

• Heating and stove oils show an added 2.69 cents per litre.
• Diesel shows an added 2.3 cents, and...
• Gasoline shows an added 4.6 cents a litre.

There'll be more on this as the data comes in, but everyone should pass the word that there will be increases in most pricing this week.

Regards,

George

Gasoline down but distillates are up
Numbers show little change in prices

Media release

Hi to all...

I'll keep it simple for this week as I am still tied up in my election campaign.

Oil remains steady for now
Considerable worries about European debt and North American economic recovery are overshadowing oil prices this past week as oil prices and their related refined commodities held mostly steady as well.

Debt troubles in Ireland and other Euro nations are putting the emphasis back on US dollars while, at the same time causing an uneasy investment in oil. The trouble here is that if there is turmoil in economic recovery, then the impact on oil demand could be significant and we could see oil prices start to retreat.

It's going to be worth keeping an eye to, if indeed world market recovery comes into question.

Continuing oil work

A lot of people are asking me if I'll keep up my oil work in the event I do get elected. The short answer is "yes" and I will continue to keep the media and consumers informed of any pricing changes as part of the daily routine.

What's in the numbers

Here's what I have for the past week with all the data now in. These changes should come into effect this Thursday morning:

• Heating and stove oils show an added 1.29 cents per litre.
• Diesel shows an added 1.9 cents per litre, and...
• Gasoline shows a decrease of 1.1 cents per litre.

That's it for this week!

Regards,

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices

Some numbers for the week so far...

Here's what I have so far this week.

You'll have to excuse the fact that I haven't included some of the latest oil news here as I have been busy on the campaign trail and I haven't had the time to keep track.

Not to worry, as I'll continue my oil work irregardless of how things turn out. I've had a few emails on that question already!

• Heating and stove oils show an added 1.26 cents upwards.
• Diesel shows an increase of 1.9 cents a litre, and...
• Gasoline shows a drop of 1.1 cents a litre.

Six days out of seven, keep in mind! I'll be back with the final numbers tomorrow night.

George

Steady for gasoline while distillates show "down"

Hi to all...

Just in from the campaign trail where we've been quite busy.

Here's a brief synopsis of the numbers. Not much change from last nights figures, although these do confirm them for the seven day period.

• Heating and stove oils are forecast to drop by 2.07 cents per litre.
• Diesel to drop by 2.1 cents per litre, and...
• Gasoline shows an added 2/10ths of a cent, but there may be no change at all if you take into account my three tenths of a cent margin for error.

That's it from me!

Catch me on the campaign trail somewhere!

Regards,

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices
gasprices@hotmail.com

Distillates are dropping. Gasoline relatively steady

Hi to all...

Cold on the campaign trail and it probably means that thermostats are also getting cranked, now that winter seems to be settling in. The heat bill has become an issue for some out there.

There is a little relief on the way, with oil prices moderating somewhat. The madness over last weeks market turmoil caused by the US and China playing with their positions on their respective currencies has abated somewhat, but still will flare up again when oil abates I would bet!
Still, a draw on US inventories of refined product would normally have played heavily in the markets again last week, but it never, which is curious. I'm betting that there's a lot of worry over investors damaging any economic recovery with an increase in energy prices. I'm betting that someone out there is feeling the pinch before Christmas, and they don't like what they see in the consumer's eyes. In other words, I think that investors are seeing the markets "tighten up" and there's not much "elasticity" in people's pockets.

Here's what I have as regards to this weeks pricing changes, with one more day of data to attain:

• Heating and stove oils to drop by 2.03 cents per litre.
• Diesel to drop by 2.1 cents, and...
• Gasoline to increase by 6/10ths of a cent.

I'll be back with a full run-down on the numbers after ten tomorrow night, I hope!

Regards,

George

Sorry I published late!I was out on the campaign trail. Hope you get most of the details on the news!
-George-

Oil starts downwards
Commodities unaffected by drop in oil prices yet

Media release

Conception Bay South, NL, November 16, 2010- Consumers in Newfoundland and Labrador will be paying a little more for gasoline for at least this next week, in spite of a drop in oil prices. That comes from George Murphy, group researcher for the Consumer Group for Fair Gas Prices.

"Even though I've seen the slide in oil prices this week, coming down over five dollars since November 12th, I haven't seen the same thing happen with refined commodities", said Murphy. "What I have seen is a drop in the value of the Canadian dollar against the US greenback and that wasn't a good thing when the dollar difference is thrown in the mix. A drop of a penny against the US dollar equates to only a 4/10ths of a cent drop in fuel prices to Canadian consumers, so this weeks drop in oil prices mounted to nothing for Canadian consumers."

The numbers
"I expect very little change in distillate prices this week. Heating and stove oils show a modest 56/100ths of a cent increase, while diesel prices are showing just an added three tenths of a cent. Gasoline is expected to increase by 3.2 cents a litre on Thursday morning, so consumers may be best advised to top up the tank if they wish to tuck away a few dollars.

"If oil continues to drop, consumers can expect that prices for all refined commodities may follow provided that inventories remain up along with an elevated Canadian dollar. If the distrust of the markets right now is any consolation to consumers, this increase in gasoline prices may be short-lived.

Markets are anxious
It seems that there's some thought going into what evidence there is for any economic recovery out there While there has been a stall in US economic recovery within the US northeast areas, there is also considerable worry over Ireland's sovereign debt and the possibility of China raising interest rates. We're really not out of the woods on worldwide economic recovery just yet, and those feelings played with oil pricing this week. Investors still do not have the trust and confidence in the markets to take too much risk.

-30-

For more information, contact;

George Murphy
Group researcher/Member

Numbers so far

This week sees oil pricing to be contingent and dependent on world affairs, more so this past week than ever it was.

Oil prices this week are starting to walk a fine line between another climb and a retreat in prices based on what's been newsworthy to report this last week. The contentious debate amongst the G-20 leadership, in particularly the currency war between China and the United States, has oil all over the place on the consumer pricing map. With the US entering the fray over the value of a fixed Chinese currency, the US Treasury Department, in it's wisdom, decided that they had beter start the copy machines a'printing in an attempt to devalue its own currency. That led investors to drop the US dollar and invest their money in commodities like gold and oil, along with other currencies like the Canadian dollar.

Not so with oil's related, refined commodities which, while showing volatility, still hasn't reflected the very modest retreat in oil prices over the past two business days.

Here's what I have so far this week, six out of seven days to report:

• Heating and stove oils show an increase of just 72/100ths of a cent.
• Diesel prices show an added half penny, and...
• Gasoline shows an added 3.3 cents a litre at the pumps for Thursday.

Ouch!

Almost back to $1.16 a litre in the St. John's area...

I'll be back sometime later tomorrow night with a final breakdown on the numbers, and the "guesser" for Thursday.

Regards,

George

Oil trades up for the week
Consumers to see some increases as a result

Media release


Conception Bay South, NL, November 9, 2010- Consumers in the province will see some increases to consumer pricing this Thursday as the rise in oil prices will begin to toll on the pocketbook. That’s from George Murphy, group researcher for the Consumer Group for Fair Gas Prices.

“All data indicates a rise in prices, mitigated somewhat by the increase in the Canadian dollar against the US greenback. While the US dollar fell for the second straight week, that spurred investors to take their money from currencies and invest them in commodities, and that’s chiefly why we’ll be seeing prices increase this week”, said Murphy.

What’s in the numbers
“Numbers show heating and stove oils to increase by 2.13 cents a litre, diesel to increase by 2.5 cents and gasoline to increase by 1.1 cents a litre. With oil prices increasing by close on four dollars a barrel this week, it didn’t surprise me any to see prices go up to consumers as well. The question now is: How high can prices go before consumers start to feel the pinch from rising energy prices? How high can oil go before an unsteady economic recovery starts to feel the cost?

NDP platform includes removal of HST
This week saw the federal branch of the New Democratic Party show off a plank in its platform. The party has picked up the call for the removal of HST from heat, which is an important consumer need during the cold Canadian winter. Their platform calls for the removal of the federal governments five per cent cut of the HST from all heat with the remainder to be removed by the provinces.

-30-


For more information, contact;

George Murphy
Consumer Group for Fair Gas Prices

Up five bucks in a week

There must be tears of joy in the halls of the department of finance this week!

If you have been keeping an eye to the markets this week you would be taking notice of the rapid increase in oil prices, up almost five bucks a barrel. Since last regulation period, oil prices have increased from $82.95 US a barrel to reach today's high of $87.06 US.

Perhaps when you go to fill up, you might be taking more notice of the price as well, in particular for the rising costs for heating and stove oils. Added surcharges surely are to follow again as prices increase to various transportation industries.

Be warned...

Prices are again on the move upwards...

Of interest to consumers out there, with the rising price of oil we should see some reaction to consumers spending habits start to kick in. Consumers will probably become acutely aware that it's just costing a little bit more, and that it's starting to impact what you think you had left in your wallet.

It will be no different this week as, worldwide, consumers begin to notice the bite that high energy will be taking on spending. Expect the impact to be felt in the said economic recovery. If anything thwarts that, it's high energy prices. If we notice that, does industry notice the effects on spending as well?

Here's what I have so far this regulation period with one more day of data to attain. Keep in mind the possible slight inaccuracy in the heating oil number as a result of the change to the winter heating mix change for the next few months when the price changes come out this Thursday:

• Heating and stove oils are up by 2.13 cents per litre from last week.
• Diesel shows an added 2.4 cents per litre, and...
• Gasoline shows an added 1.1 cents per lire.

I'll be back again tomorrow night with the final numbers for the week. In the meantime, drop me an email if you think you're starting to feel the effects of high energy prices agin. I'd love to hear from you!

Regards,

George

Not much change in the numbers

Hi to all...

Not much activity in the markets this week and that means not much change in the prices of fuel products for this regulation period.

Here's what I have with all seven days data at hand:

• Heating and stove oils show a drop of 12/100ths of a cent.


• Diesel shows a drop of 3/10ths of a cent, and...


• Gasoline shows an added 3/10ths of a cent.
  

Two things here:

First off, my margin for error is 3/10ths of a cent on a litre, so there may not be any change to prices this week, the numbers are that close.

Secondly...

We are entering the winter heating season where the heating oil number can only be used as an indicator as to what direction heating oil will go. The reason for that is that heating oil (#2 fuel oil) for winter heating purposes is composed of 25% of 32 fuel oil and 75% jet fuel (kerosene). I can't find a free source out of the many out there.

The number should still be solid for stove oil figures.

That's it for this week!

Regards,

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices
gasprices@hotmail.com

P.S: In spite of a possible by-election run, I will still be doing as I always have with the update. It'll be just like nothing changed.

No real changes to pricing this week so far

Numbers here don't show any need to run out to the pumps anytime soon.

Here's what I have so far for this regulation period. Six out of seven days reported:

• Heating and stove oils are down by 18/100ths of a cent.
• Diesel is down by a half penny, and...
• Gasoline shows an increase of about two tenths of a cent.

Like I said, no rush.

In the meantime, just a short note here. we're getting close to the winter heating season where the winter heating blend of 75% jet and 25% number 2 fuels will be out. That means that my heating oil numbers may be out slightly more than before as I cannot get a source out there for predicting the change. It cost a rough $400.00 US per month for a subscription service in order to get that i cannot spare for a while yet.

Sorry for any inconvenience this might cause to some of you out there. The numbers go back to normal again after the end of the winter heating season.

I'll be back tomorrow night with a wrap on the week!

Regards,

George

The stove oil number will remain unchanged however...

Hi to all...
Sorry I'm posting late this week. Tell the truth. You all thought I bailed, right?

George

Numbers show gasoline to drop Thursday

Media release

Conception Bay South, NL, October 26, 2010- Consumers get to see another drop in gasoline prices this coming Thursday. That’s according to George Murphy of the Consumer Group for Fair Gas Prices.

“Numbers show moderate increases to distillate prices but gasoline shows a drop. I expect heating and stove oils to increase by 64/100ths of a cent per litre, while diesel shows an added 9/10ths up. That’s been the trend with distillate as we get closer to the winter heating and Christmas shopping seasons.

“Gasoline is a little better as that fuel shows a drop of 1.3 cents a litre on the way, the second drop in two weeks. While all the numbers are not substantial, they do reflect the fluctuations in crude oil pricing the past week or so. I still expect to see oil pricing to hold close to where it is now, and for fuel prices to remain so as well, at least for the interim.

-30-

For more information, contact;

George Murphy
Group researcher/Member

Slight drops in prices for Thursday

Hi to all...
Numbers are all in for the week.
For the first six days of the period, the numbers showed no big changes coming.But that was before todays market trading that showed a drop in crude prices of close on $3.50 a barrel.
Oil closed today at just under $80.00 US after concerns were raised with China raising its interest rates and an increase in the US dollar as investors pulled out of commodities and poured money into the US dollar instead.
The Canadian dollar also lost ground against the US greenback as a result of todays market moves, losing almost a cent and a half to settle at $1.03 for a US dollar.
The Canadian dollar started out this regulation period at par with its US counterpart.
The American Petroleum Institute (API), a US oil industry representative group, also are reporting a growth in US crude oil inventory increase in their report released today.

As a result of these factors, consumers in Newfoundland and Labrador will experience a slight drop in consumer prices for petroleum products I measure.

Here's what I have:

• Heating and stove oils will drop by 8/10ths of a cent a litre.
• Diesel will drop by 1.2 cents a litre, and...
• Gasoline shows a drop of 1.2 cents a litre as well.

That's it for this week!

Regards,

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices

Commodities still turbulent

Media release


Conception Bay South, NL, October 12, 2010- Consumers will still see some of the after effects of last weeks storm in the markets when the Petroleum Pricing Office and the Public Utilities Board move to adjust prices this Thursday. That’s according to George Murphy, group researcher with the Consumer Group for Fair Gas Prices.

“Numbers are showing down for distillates. Heating and stove oils show a slight drop of just 35/100ths of a cent, while diesel shows a drop of 1.2 cents a litre on the way. Gasoline shows an increase of two cents a litre coming for Thursday.” Murphy said.

“There’s still a lot of turbulence on the markets out there. One minute I’m seeing oil and refined commodity prices rise and then sink again. I think the markets are still jittery over any economic recovery, and the markets are displaying what I’ve said already about any market recovery; that a mere couple of weeks are too premature to call the shot on economic recovery just yet. As an example, there’s a record being set for property foreclosures in the US being reported on today and that was enough to stymie any increase in oil prices and signal a slight retreat.

“To add to that, there’s a prediction of an inventory build in the works when the US Energy Information Administration releases its weekly data this coming Wednesday and that is also showing in today’s retreat. Here’s to hoping that the jitters that are out there result in investors looking at the big picture instead of taking chances in running up prices that don’t reflect market realities.”

-30-

For more information, contact;

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices