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Fuel Hike Again
From AllAfrica.com.....
New Era (Windhoek)
NEWS
January 18, 2006
Posted to the web January 18, 2006
By Wezi Tjaronda
Windhoek
While consumers are yet to recover from the festive season and other school related expenses, they will be required to pay more for fuel.
Fuel prices will this Wednesday, January 18, go up.
Both unleaded (95) and lead replacement petrol (LRP 93) will go up by eight cents a litre, while diesel will increase twice as much by 16 cents per litre.
This marks the fifth time fuel prices have gone up since March last year.
With this new development, consumers at Walvis Bay, which is the cheapest, will have to pay N$5.25 for LRP, N$5.27 for unleaded petrol and N$5.09 for diesel.
In its announcement yesterday, the Ministry of Mines and Energy said the rise was due to the prevailing situation of the cumulative slate under recovery in the local market, which left it with no choice but to increase the prices of petrol and diesel.
The ministry said it has not adjusted its prices for quite some time for the local prices to reflect what is happening on the global scene.
A ministry official, Im-manuel Nghishongele said yesterday the country could not continue like that because the difference was now building up to the extent that it now amounts to N$204 million.
Even though the ministry increased prices last year, Nghishongele said fuel prices change on a daily basis, just like the foreign exchange rate.
As of Sunday, the price of crude oil per barrel was US$63 (approximately N$380).
The last fuel price hike, which came into effect on September 21, was 39 cents per litre, having increased by 40 cents per litre the previous month in August.
In September, the revision of the prices was necessitated by having to compensate for the fluctuations in the import parity price, which is mainly due to the fluctuations in the international crude oil prices incurred during the months of June, July and August.
Minister Erkki Nghimtina said the ministry was trying to keep fuel prices at an absolute minimum, which should reflect very positively on all commodity prices.
He urged petrol stations to adjust their pump prices accordingly, while cautioning the public to ensure they were paying the correct price as gazetted.
Dateline: Philippines.....
Energy Secretary Raphael Lotilla said the national government through DoE is focusing its attention on the advance of international oil prices to their highest level in the last three and a half months and to mitigate their impact on domestic fuel and electricity prices.
“This includes all measures that can ensure affordable electricity rates for all consumers including those in the Meralco franchise area,” Lotilla said in a statement.
Lotilla noted that the current crisis involving Iran’s nuclear program is of real concern to the Philippines as Iran supplies 24.6 percent of the country’s crude importation, second only to Saudi Arabia at 56.3 percent.
“We continue to pursue the principle of securing a fair deal for electricity consumers and for the government, and advancing transparency and competition in the electricity industry,” he stressed.
The crisis in Iran has affected world oil prices. The Philippines is still vulnerable to high oil prices as many power plants in the country is still oil-based Stinkeye edit: (read: bunker fuel).
At the same time, domestic pump prices were affected. Oil firms raised prices by 50 centavos per liter for all petroleum products and 50 centavos per kg for liquefied petroleum gas (LPG).
Dubai crude, the benchmark used by oil refiners like Shell and Petron, increased by $3.66 to $56.86 per barrel in January from $53.20 in December. As of Jan. 12, it reached $57.83 per barrel.
Unleaded gasoline imported from the region likewise went up by $5.83 per barrel to $66.64 in January from $61.01 in December. As of Jan. 12, unleaded gasoline was pegged at $64.76 per barrel.
Diesel imported from the region also showed an increase of $4.96 per barrel to $71.99 this month from $67.03 in December. As of Jan. 12, diesel reached $71.17 per barrel.
Meanwhile, the contract price for LPG also showed an increase of $44 per metric ton to $582 per metric ton in January from $538 per metric ton in December.
DoE said it likewise focused on working with all stakeholders to give Meralco’s customers sufficient power and affordable rates.
Meralco, for its part, disclosed to the Philippine Stock Exchange that it is “not aware of any such takeover plan.”
Critics of Meralco have been pushing for a government takeover in the hopes of lowering electricity rates in the country.
The Philippines remains third-highest among countries with high electricity rates in Asia, next to Cambodia and Japan. Alena Mae S. Flores
Crude Oil Prices Rise Above $67 a Barrel
Friday January 20, 1:54 am ET
Oil Prices Rise Above $67 a Barrel; Market Remains Tense Over Iran Nuke Dispute, Nigeria Unrest
SINGAPORE (AP) -- Crude oil prices rose Friday amid concern over the Iranian nuclear dispute and political unrest in Nigeria, and despite growing U.S. supplies of oil and refined products.
Light, sweet crude on the New York Mercantile Exchange for February delivery rose 23 cents to $67.06 a barrel. Heating oil rose marginally to $1.8049 a gallon while gasoline gained 1.2 cents to $1.7884 a gallon. Natural gas advanced 19.4 cents to $9.099 per 1,000 cubic feet.
Worries of possible sanctions against Iran, OPEC's second-largest producer, for its nuclear ambitions and violence in oil-rich Nigeria have helped to support oil prices in recent days. So much so that even a report of growing supplies in the U.S. could not calm the market.
On Thursday, a senior U.S. envoy accused Iran of deceiving the world about its atomic program, declaring that moves to haul it before the U.N. Security Council were meant to deny "the most deadly of weapons to the most dangerous of countries."
The comments by Gregory L. Schulte, America's delegate to the International Atomic Energy Agency, were part of a broad U.S. campaign to swing not only diplomatic but public support behind a push to refer Tehran to the Security Council over fears it is trying to make nuclear weapons.
International pressure is mounting on Tehran to turn away from resuming uranium enrichment, and the United States and key European nations have pushed for a referral of the issue to the U.N. Security Council. Iran insists its plans for enrichment are only to produce nuclear energy.
Also Thursday, Royal Dutch Shell confirmed the death of a second catering contractor in an attack by armed militants on an oil platform in southern Nigeria, raising the death toll in the incident to 14.
The string of attacks, including the rupture of a major Shell pipeline in the region, has forced the oil giant to evacuate more than 300 workers from four installations deemed vulnerable to attacks. The company cut production by 221,000 barrels a day as a result.
The U.S. Energy Department report this week showed domestic crude-oil inventories grew by 2.7 million barrels last week to 321.4 million barrels, or 12 percent above year ago levels.
Gasoline inventories expanded by 2.8 million barrels to 211.6 million barrels, or 3 percent below year ago levels.
The supply of distillate, which includes heating oil and diesel, increased by 900,000 barrels to 134.7 million barrels, or 8 percent above last year.
Updated the I-Box above with all of the calls that go along with the charts. It's worth glancing at once to remind ourselves why we're all here (to make money), but then turn the I-Box off so you don't have to scroll past the charts all the time...
PS - everyone make sure you sign up for the SAGF email list...periodically I'll shoot an email out to everyone if I come across a must play or must read.
Time for RAILROAD earnings calls again gang.....
I listen to EVERY US Major's earnings calls to hear what they are saying about fuel cost and I'll be posting some notes from Union Pacific later but here's a nugget to start with on Union Pacific:
The company also faced record quarterly diesel prices of $2.08 per gallon in 2005, 42.5 percent higher than the $1.46 it paid in 2004.
Chief Financial Officer Robert Knight said the company expected "little change" in oil prices in 2006.
Around 90 percent of the company's business is affected by a fuel surcharge, and company officials said that percentage should rise in 2006.
shoot it to me colby and I'll work it out....sag.fund@gmail.com
can't see it Colby.....says your login expired....
I hope RDS followed us over here....
remember gang that volume ALWAYS precedes PRICE....volume is the key...
POZN $14.92 from $10.65 call....looking like a potential Hall of Famer....
EVERYBODY LOOK AT THIS CHART....
I was looking at this earlier today and a friend said he hears other folks are looking at the same signals.
Long story short, if we get past $2.50....we are gone.....
POZN $14.33 from $10.65 call....
been burned on that thing in the past....big time diluters....i'll check it out though...
I just want to keep that board active for when IFUE starts getting a lot of attention. That way, folks that come to IHUB looking for info will see that there are longs here to provide insight....otherwise, I completely agree jongalt.
POZN new 52week high ($13.84) from $10.65 call last week....
Posted by: stinkeye
In reply to: None
Date:1/4/2006 3:11:19 AM
Post #of 4039
POZN - keep an eye on this...it's trying to break out here....migraine drug that should be FDA approved this year...here's the chart, and then the science...
look for a break of $10.65 then $11.00 for confirmation...
TMTA getting volume now gang ($1.50)...I really like this as a mover into Q4 earnings call....
ISV at new 52-week high ($1.24) from .90 call....
when will they start trading Colby??
IFUE just needs volume today to see $2.20's.....
In TMTA here at $1.45....
BCON looking strong...
watch TMTA for a break of $1.45.....
How 'bout HIV gang....posted at .168 now at .31....
If we can get some volume today....we should see $2.20's......
Remember guys...you can turn the I-Box charts off at any time by clicking the "Hide Board Info" option.....
Don't do it yet though, because tonight the actual calls on those charts will be added for each one up there...
Here, Here Hoss!
I have to turn this damn laptop off and get to sleep...I had to set the alarm for 5:45!!
PS - I warned Defender that ONE rant or attack, and he's banned.
Stinkeye board is up and running now gang! Both Free and Premium IHub members are able to post. As of this post all non-IFUE posts will be on the SAG Fund board. We will still continue to discuss IFUE there also, especially as events warrant.
I look forward to seeing you all there and don't forget to "Boardmark" it as a favorite and sign up for the email list.
Here's the link and you can also find it from the IHub homepage...
http://www.investorshub.com/boards/board.asp?board_id=5025
1000% YES Pro!
Relax defender...Matt and I had some issues with the new board accepting posts from FREE members such as yourself. It is fixed now and all OT posts will move there. Thank you so much for your concern though!
BTW - even you are welcome to post there, but let this serve as notice: I will not be as accommodating there as I was here. The first time you launch into a rant and insult a fellow poster you will be permanently banned.
IFUE held in there nicely today....volume is the key....
BTW - DSTI closed at $14.10 on the high....
Posted by: stinkeye
In reply to: stinkeye who wrote msg# 3923
Date:1/13/2006 12:12:11 PM
Post #of 4002
Grabbed a bit of DSTI on the break of $12.00....tight stop at $11.00.....
seapad...free members can post on any forum...you're just limited to 15 posts per day I think....by all means follow us over to the SAG Forum.
I'll continue to post IFUE related research here as always. As for email, you can use yourauctionmonster@gmail.com. Rick.
[edit] I may have accidentally set the forum up as a Premium Board....let me see if I can fix that....[edit]
As of this post, ALL non-IFUE related posts will be found at the Stinkeye Aggressive Growth Forum, which can be found here....
http://www.investorshub.com/boards/board.asp?board_id=5025
what did I have you in PHPG at Colby?
I've been in since .90....now $1.63....
Posted by: stinkeye
In reply to: None
Date:8/2/2005 10:31:29 AM
Post #of 4022
In PHPG..
IFUE hanging in there today....
Welcome to the SAG Forum! Everyone is welcome here to discuss any market ideas or investment thesis'. The goal is to have an open exchange of ideas and hopefully we can all learn some methodology to help us tip the scales in our favor.
I agree Colby...I'll send everyone an update with the details on the new forum....
IFUE - light volume so far...
DSTI - $13.90 from $12.00 alert....
sure thing defender....I'll bet Matt appreciates complaints from the "FREE" members since 2004....
While we're at it Defender....
All the requests I got to ban you from this Forum and never once did I even consider it. In fact, rarely did I even delete your
vile personal attacks on IFUE longs or management.
All you had to do was turn the I-Box off and instead you run like a punk to Matt....damn that's weak...
Thanks for deleting about 3 hours worth of work though on the I-Box!! LOL! Is that archived anywhere?