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Gas and Oil

Gas and Oil

Posted: 12 Dec 2009 01:57 AM PST

Numbers still show "down" for Thursday coming

Call it an early Christmas present on the way.

Here's what I have with twelve days of data in so far. We still have Monday and Tuesday to contend with so, the numbers may get a little better before then.

  • Heating and stove oils show "down" by a penny.
  • Diesel shows "down" by 1.1 cents a litre, and...
  • Gasoline shows "down" by 3.5 cents a litre.

I guess Santa doesn't work for Exxon after all!

What is significant about the numbers?

Heating and stove oils are down in a demand season and refiner capacity is still low, recorded at 81.1 per cent, just up a little from last week. The slight increase in refinery capacity just might be a fore bearer of lower prices for heating and stove oils as they pick up production and build inventories, especially so if capacity increases again...

I'll be posting here again on Tuesday night, a little later than usual so drop in on the blog then, or keep an ear to the radio news and such for word on what to expect Thursday coming.

Regards,

George

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