Gas was in the 111 range yesterday, before shooting up to about 116.9 now. We had been running about the same as PG or 1-2 cents higher, so maybe “market forces” are a little slower to get over the mountains, LOL.

For once, the gasoline prices are coming down soon after the price of oil has dropped. Usually it takes much longer but they nearly raise the price more quickly than announced rises in the oil price.
Makes me wonder if whoever it is who determines oil prices, are doing this so ISIS doesn’t make as much from their illegal sales and sort of cripple their funding a bit.

Yay!

PG should be paying in the 101.9 range. I’m paying 121.9 and have a 15 cent transit tax..

The price at the pumps will always rise more quickly when the global price of oil rises because the retailer will then have to replace his stock of fuel and pay for it (at a higher price than he paid for his last tank of fuel) out of part of what should have been his net profit.

Conversely, an overall fall in prices at the pumps generally lag a fall in the global price of oil, because the retailer still has to sell his current (higher priced) stock at a price that’ll give him the profit he needs to stay in business.

There is not a lot of profit in gasoline retailing, the margins are small and in most cases those who depend on it as their sole livelihood find that any profit they make from it comes from volume moved.

Interesting that we always attack the oil companies whenever gasoline prices rise, just like we make out that housing is becoming ‘unaffordable’ whenever there’s a price spike in the retail cost of lumber. Completely ignoring that the average real estate commission charged on the sale of a new home will exceed the total cost of all the lumber in it.

Really, if we wanted to avoid not only the perception that we are continually being gouged at the pumps, or the building supply, supermarket, car dealer, or for anything else, it would be a very simple matter to make the price TO THE FINAL RETAIL CUSTOMER actually reflect the TRUE cost of production. This could very easily be done utilising the same technique of credit which currently puts us all, collectively, increasingly indebted for sums of ‘money’ we’ll never be able to repay. Only in reverse. Which would allow the current financial, or ‘money’, system to more accurately REFLECT the physical realities it currently grossly mis-represents. But we won’t do that. We’d sooner just keep paying, and bitching, til the bitter end.

whoops I meant 106.9. I should never do math before coffee. :-D

What’s interesting down at Sumas gas at Costco is 108.9 and its 119.9 here?

Gasbuddy.com

remember when the local operators raised their prices all the same on the same day that the head offices dictated the price (not the operator) Why do we see 3 esso stations all with different prices? And we beleived them. NOT

Gas prices in Victoria are 112.9 and 113.9 down from 115.9 last weekend.
Haven’t checked Costc.
You would think that costs for shipping gas to the Island would make it more expensive.

There is only one real reason why the price of oil is dropping. American sanctions against Russia backfired and are hurting Europe more than Russia. So the Americans are doing again what they did during Reagan years which is they cut a deal with Saudi Arabia to drop the price of oil significantly so as to hurt the Russian economy.

Most economists and historians agree that it was the huge drop in oil pricing that brought down the Soviet Union. But it won’t work again.

Russia is not the Soviet Union, and its economy is much, much stronger than most people realize.

United States is fighting for the life of its petro-dollar, but it is losing the war. The price of oil will likely start to creep back up, and in fact this week it already has.

You cannot make sense of local issues without at least some knowledge of geopolitical ones.

Good point jetstream – some people think that how close you are to a refinery controls how much you pay at the pumps…

What about diesel?

WSJ Barron’s weekly predicted the fall of oil prices to 75$ in its March 31, 2014 issue “Here Comes $75 Oil”. The many experts in the article argued for rising supply and falling demand because of new technological advances in medium term.

It has another story this weekend “$75 Oil Is Still on the Way” discussing Saudi’s desire to hurt Putin as one of the reasons. You need to be subscribed to read the articles online, but you can read Barron’s weekly print edition in libraries in lower mainland (not in PG library).

The noise I hear on the financial media is that the Saudi’s do not want to lose their market share and they want to drive out oil sand producers in Norh America (mainly in Alberta). But the triple digit oil prices seems gone. The fed doing another QE4 will weaken US Dollar again and crude oil will gain a bit as it happened this Friday after the QE4 rumors stabilized the markets.

Gas prices are set mostly on what the market will bear, and other factors.

It’s quite simple. If you want to pay less for gas, drive less or buy a more fuel efficient vehicle.