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Mid October Forecast
forecast
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Forum Posts: 0 		2009-10-07 14:14:20

Prices moving daily in a $5 bracket, so its difficult to guage accurate pump prices. The weak dollar is helping keep pump prices relatively stable over the past few weeks.

NORA (National Oil Reserves Agency) with the extra 1c now has to be factored in. Expect Petrol @ 1.16, Diesel @ 1.07 & home heat at €520 / 1000 litres over the coming couple of weeks.

The medium term view is more of the same, so unless some dramatic news comes out or somebody calls someone else a bad name in an oil producing country, prices should stay relatively stable over the next 3 / 4 months.
jon
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Forum Posts: 357 		2009-10-08 09:38:22

Would this be the same for home heating oil do you think? We are getting into the northern hemisphere winter so demand may go up?
mcaul
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Forum Posts: 126 		2009-10-09 08:16:55

Heating oil seems to be factored in. Its only when there are particularly harsh winters in north America combined with geopolitical problems that heating oil would jump dramatically.

Though in saying this, increases in heating oil are more noticable as there is no duty on it and vat is 13.5%. The base cost of heating oil is very similar to the base cost of petrol / diesel.
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