Friday, November 2, 2012

Here We Go Again! Gas Prices Are On the Rise!

It was bound to happen!  After a week or more of lower gasoline prices, the province's utility and review board has raised the price overnight for regular self-serve by 5 cents a litre. Its selling today at South Shore pumps for $1.25.9 a litre. Diesel is also up in price. A diesel is priced today at $1.35.5 a litre.Thats a cent more than yesterday's price.
World oil prices are falling amid subdued demand for crude after hurricane Sandy. Benchmark crude for December delivery fell 28 cents midday in Asia to $86.81 U-S a barrel. Despite ongoing disruptions at refineries and supply terminals in the U-S northeast, analysts say the U-S still has sufficient supplies and that demand for crude oil would be lower than anticipated for a few weeks.