Consumers to get a Christmas present

Numbers show a break for consumers

Media release

Conception Bay South, NL, December 20, 2011- The Grinch has turned his back from taking away Christmas for consumers this week with all fuel numbers pointing at a decrease for all fuels when the Public Utilities Board sets prices this coming Thursday. That news comes from George Murphy, group researcher for the Consumer Group for Fair Gas Prices.

“While the markets have been volatile, they have been mostly down the past week, with oil prices retreating from last week’s $100 US a barrel to this week’s average of $95 US a barrel. While the Canadian dollar took a hit, we’re still going to see something off at the consumer level as refined commodity prices also retreated.” Murphy said.

The numbers

“Consumers can expect to see heating and stove oils drop by 1.88 cents a litre, while diesel shows a drop of 1.6 cents. Gasoline prices are down by two cents a litre, but again, there’s no accounting here for market volatility, and the market news jolts everywhere uncertain.”

Markets are spotty

“There’s a tremendous amount of uncertainty out there. We’re still seeing European Union financial woes, considerable worry over the world economy with China’s reduction of output of consumer goods being one chief indicator. Also entering the market fray are the world geo-political situation with North Korea and ongoing concern over the Iranian nuclear program.”

I expect the markets to continue their market volatility for the next while. There hasn’t been market stability in the last few years, especially with the threats that persist worldwide. For now though, with the onset of the Christmas season, we get an early Christmas present, and that’s one thing that we can take pleasure in, albeit, it’s just a small break. We’ll take it”

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For more information, contact;

George Murphy

Group researcher/Member

Consumer Group for Fair Gas Prices