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Gas and Oil

Gas and Oil

Posted: 29 Dec 2009 10:37 PM PST

Numbers show a hike in prices for Thursday

Here's what I have for Thursday price changes this week:

  • Heating and stove oils show an increase of 1.66 cents a litre. Remember that the heating oil numbers are thrown off a little because of the use of jet fuel in the winter mix.
  • Diesel shows a 1.4 cent a litre increase on the way, and...
  • Gasoline shows an increase of 1.3 cents a litre upwards.

Just a few factors of note these last two weeks:

  • A drop in refiner capacity down to 80% from the previous weeks 81%.
  • A drop in inventories of distillates that includes diesel and all heating fuels. Crude oil and gasolines also showed substantial draws against inventories.
  • The Canadian dollar has gained almost two cents against the US greenback, partially insulating consumers from a more substantial increase in prices.

That's it from me!

Regards and Happy New Year!

George Murphy

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