Commodity market pricing for refined products continued the downward trend this past week, largely influenced by global market uncertainty. Maximum prices for gasoline in the province are now similar to those established last spring. The significant decrease in the maximum price of gasoline follows news that the Gulf of Mexico refineries were slowly restarting after the shut-downs recently caused by Hurricanes Gustav and Ike. Concerns in relation to below-seasonal average gasoline stockpiles seem to have been offset by reduced forecasts for global demand growth based on the notion that high prices will affect demand in the U.S., Europe and Japan. Heating fuel prices are tied to the status of inventories, which are currently at seasonal average levels, as well as the anticipated future demand as North America moves closer to the winter season.

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