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Gas and Oil

Gas and Oil

Posted: 25 Jan 2010 07:33 AM PST

After twelve days of data

It's shaping up to be a good week, that's if you're waiting for a drop in prices.

Here's what I have so far for this week. Two business days to go!
  • Heating and stove oils are down by 3.99 cents a litre.
  • Diesel is down by 4.4 cents a litre, and...
  • Gasoline is down by 2.1 cents a litre.

Troubles with the US economy, especially faith in the US banking sector after Obama's comments last week, are part to blame for the slide in oil prices and their related, refined commodities.

A willingness on the part of China to absorb some of the liquidity of lending in the economy there is also putting the pinch on possible growth and expansion of the Chinese economy as well.

I'll keep you all posted but, the word for now is "don't buy unless you really have to" for now.

Regards,

George

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