Can anyone explain why the price of gas went up 3cents/litre today when the price of a barrel of oil is under $60.00. To my thinking we are paying very close to double what we should be. I seem to remember McTeage saying gas prices rise a penny for each dollar rise in the price of oil. At that rate gas should be about 60-65 cents/litre plus the dreaded HST.
You're being sensible ...that doesn't work when calculating gas prices . There isn't much competition here , much like cable/satellite / internet pricing , and we get gouged big time . Why would it change ...we keep paying !!
I see a couple of answers that make sense here. One is we are stupid and don't do anything and the other is lack of completion. thanks to our wonderful gov,ts. way of thinking they have allowed the big oil companies to buy out the completion so they could control the prices, much like they have done in the food industry and cable companies. We,as consumers mean nothing to the so called leaders of our country. They think only of big business and corporate profits.
Filled up in Detroit the other day at $2.83 per U.S. Gallon. 1 U.S gallon is about 4 Litres so I paid about 70 cents per Litre I think. Almost worthwhile going over every week. Maybe pick up a few groceries and some clothing while I'm there at about 1/2 the cost. Pisses a guy off.
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My wife wants me to see things from a woman's point of view, so now I spend a lot of time looking out the kitchen window
That actually equals .95 cdn a litre. Still a little better but if you have to sit in line both ways and go through customs twice to save $12.00 or the cost of about 10 litres which you burn up getting there and back, where is the saving? I understand it is still a ripoff buying gas in Canada considering the US gas probably came from here but was refined in the US taking away Canadian jobs just like Harpers agreement to cut out the sawmills in the west and send all our raw logs to the US for processing.
I'm close to going to Detroit for gas and groceries , but haven't yet . You have to factor in the tunnel or bridge fare and U.S exchange ( which will be getting worse we are told ) and right now it's pretty close without looking at groceries . You can get a GALLON of milk for .99 over there !!.....gotta do some figuring on other items to see what is justified . Being retired and on small pension means cutting costs and food costs are getting out of control .
Buy oil company stocks that pay dividends or distributions(Unit trusts) if you think they are making too much. I will go out on a limb and say oil will be a long time getting back to near $90 or $100 a barrel. It wasn't really that long ago it was $11 per BBl. Around 20 years back. Then it was around $27 to 32 for years and then it went stupid. That made the oil sands profitable and the boom was on. The Saudis finally figured out that if they want the lions share of the market they have to make the oil sands a marginal project and they have by upping production which instantly drives down prices and is what caused the last huge drop. I earned my living trading on this market for many years. I exited before the last big disaster. Why I couldn't really tell you. Just had a bad feeling things were too rosy. The fuel companies will always charge as much as they can get away with. The government won't bother them because it is raking in huge on it too. Used to be something like 20% went to them. I haven't checked recently because I am past worrying about things I cannot change.
don
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SR Dragster because old people need to have fun too!
I heard ,on the news the other day that Canada IS in a recession. Apparently we have had negative growth for the last 2 quarters and that, apparently is a sign of recession. The economists blame this on the drop in oil prices. I am thinking that if the entire Canadian economy depends on 1 industry to keep us above water then somethings bad wrong with us. As far as blaming it on the Saudis, I don't think so. The U.S. is producing more oil now than it ever has in its history in its quest to be oil independent , not having to rely on the Arabs for oil. The U.S. is slowly squeezing the life out of us, and the Gov,t keeps letting US companies buy out the Canadians.
I'm going to go get a shovel for all this !!! ANSWER is were getting screwed, they keep coming up with Liam excuses, refinery is down, cost to ship is up, from US Refinery etc. so we just bend over the barrel, take it up the rear [Dry] Gov. wants it kept high for taxes, while in the states they get a flat tax/ gal so if price fluctuates tax doesn't increase!!!!
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I can only please one person a day, Today is not your day!!Tomorrow doesn't look good either !!!!
I'm going to go get a shovel for all this !!! ANSWER is were getting screwed, they keep coming up with Liam excuses, refinery is down, cost to ship is up, from US Refinery etc. so we just bend over the barrel, take it up the rear [Dry] Gov. wants it kept high for taxes, while in the states they get a flat tax/ gal so if price fluctuates tax doesn't increase!!!!
You would think we would be used to getting screwed by the government on fuel prices, after all we have been getting screwed ever since the metric system was implemented . THANK YOU PIERRE.
I go to the Tops grocery store in NY they give me $81 USD for $100 CDN, gas today was $2.67 / gal. The bridge fare is only $3.75. by the time I get a few groceries with the change from the gas. I figure I am ahead by $20 >$30 .............that is two 5 gal cans of gas for my hot rod...............life is good.
If you go to Walmart, they are giving $85 / $100 on CDN, you have to be careful and shop wisely to save money so you can play with your toys!
That's like buying it for 23.5% at Tops. Much better than the bank or Visa rate. It helps when you live that close. I can buy gas on the reserve for $.10 - $.15/L cheaper than the corner store but with the HHR I only save $6. -$8. on a tank and about an hour time of running back and forth. Have asked myself a few times if it's really worth it.
