Gasoline steady

Distillates to take a slight drop

Media release

Conception Bay South, NL, December 13, 2011- Short and sweet for this week as the numbers show almost no change in gasoline prices. Numbers in this case show changes that measure one hundredths of a cent to gasoline prices. That’s according to George Murphy, group researcher for the Consumer Group for Fair Gas Prices.

Heating and stove oils show a drop of 1.7 cents per litre, while diesel shows a downwards movement also, but by 1.8 cents a litre.

Highlights

• Markets remain edgy as the European Union still tries to contain the financial problems associated with burgeoning debt-loads of member European nation countries.

• A build in US petroleum inventories last week was indecisive in helping investors make decisions on investing in oil. All major refined fuel groups showed builds in inventories this past week that probably were indicative in giving a clue as to what direction consumers were headed with fuel purchases. It seems that, in this case, consumers were being kept away amidst rumours of future economic problems matched with consumers spending in other areas besides fuels.

• Tensions in Iran over its nuclear program still await entry into speculators minds as a possible disruption in supplies in the future , but that is being offset by investors’ fears of consumers real spending intentions, especially after warnings about the possibilities of economic slowdown occurring in other areas like China. Their manufacturing sector is slowing, and that’s a good sign of a slowdown in consumer spending.

That’s it from me for this week.

Regards for now!

George Murphy

Group researcher/Member

Consumer Group for Fair Gas Prices

Twitter: @GeorgeMurphyNDP