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THE CORE FUELS MARKET OUTLOOK FOR JUNE, 2022

We’ve experienced a slight drop in propane prices throughout the spring as demand has cooled off. However, inventories remain well below the five year average. This is likely to mitigate any downward price movement, into the fall, if the gap isn’t reduced. Our brand new bulk loading facility in Stratford is projected to be operational this summer. This should ensure we are well supplied into the heating months.

Distillates and gasoline (to a lesser extent) prices have been extremely volatile throughout the spring. This surely correlated with low inventories and speculation on the geo-political climate. We saw prices reach all-time highs in May and have since retreated more than 20 cents. Demand will remain high through the summer driving months. Though, we hope to see prices cool off into the fall.

New regulations were announced by the government this week which will increase the ethanol content in gasoline. We are awaiting more details and will update accordingly. The provincial government has implemented a six-month gas tax holiday beginning on July 1. All road tax will be reduced to $0.09/litre.