It can keep going down! I wouldn’t mind paying 60 cents a litre, half of what it was five months ago. More money for me!

Glad the price is dropping–refuel on Monday!!

Enjoy it while it lasts.

Nice break with taxes, food, hydro, and other expenses going up.

Its been widely reported outside of Canada that in Putins year end speech he talks at length about the economic war with the west (instigated by Harper), and says Russian oil exports will be increasing to record levels in the new year (even if at a paper loss), and the Russian/Chinese foreign exchange system of payments will be in place within 6-months, which he claims will be a turning point where they will destroy the American dollar and the Western banking system that they feel is at war with Russia. Claims that with national debt at only 10% of GDP (verses 130% for Canada), a fiscal surplus budget, gold back Ruble, and high interest rates, and all the means of national sovereign production they can outlast any western sanctions eventually coming out the clear winner on a five year plan.

So if its a five year Russian plan one has to ask how long can the Alberta and the American fracking industry compete with the world rates? How long till Harper starts calling Trudeau a visionary and implementing a national energy plan at the bubble rates to serve his backers in the oil patch? At any rate clearly with the direction China is taking now in their public stance backing Russia in this economic war we can be sure Northern Gateway is all but dead.

Interesting part of Putin’s speech is he comes out and lays waste to American Federal reserve policy of ‘quantitative easing’ where the central bankers print money from nothing to prop up the American markets. Putin says this is also how they conduct economic war on vassal states lending money from nothing for short term gains to the target country (uses Malaysia as his example of where the west failed in this regard), and then American interests pulling out causing economic crisis to buy up the country at pennies on the dollar. He claims Russia will begin its own ‘social credit’ program similar to Malaysia, but rather than subsidizing bankers ponzi schemes as the Americans do with public money, he says the Russians will finance via social credit through a public federal bank the population, productive capacity, and infrastructure where it will generate the most gain towards balancing the Russian economy from the bottom up.

If Putin pulls this off its game over for Western bankers IMO.

Clearly Canadian media is misleading the public, and hoping we all keep our heads in the sand of our true global geopolitical situation. Any discussion of our true situation is clearly out of bounds by the editors that manage the debate in the west, including on this web site.

Ease up Eagleone, the 250 article was not an opinion piece, but a reporting of the price of gas as it stands today.
And no, we don’t all have our heads in the sand. When I saw the lower price, it didn’t necessarily make me glad. We all know there is going to be a price to pay for this somewhere down the road.
But thanks for explaining Putin’s goobledy gook. Kinda reminds me of Stalin’s Five Year plans – look where that got them.

Yes Ibear, but in Stalin’s day, China didn’t own the USA.

South of the border in the Phoenix area gas is as low as $1.93 per US gallon. Even with a 20% exchange rate gasoline works out to less than $0.60 cents per liter in Cdn dollars. A 50% premium on the price of gasoline between the USA and Canada makes the product over priced in Canada.

Resident: “South of the border in the Phoenix area gas is as low as $1.93 per US gallon. Even with a 20% exchange rate gasoline works out to less than $0.60 cents per liter in Cdn dollars.”

What many people fail to mention is that Canadian gas is taxed heavily, which explains most of the difference.

Remove the carbon tax and the transit tax (yes all of BC pays for a portion of Vancouver’s transit tax) and our prices would be close to Alberta’s. If you think you don’t pay any transit tax then compare Vancouver’s price to elsewhere in the area. Are they 15 cents higher?
BC government shows the taxes at 21.17 for BC, and Vancouver with an extra 15 cent transit tax on top pays 32.17 cents tax per litre of fuel. Somehow I don’t get 15 cents difference there, only 11 – so in essence we subsidize them 2 cents a litre across BC. Their transit tax is about to go up so we will absorb some more soon.
6.67 cents per litre goes to carbon tax, 7.67 cents for diesel.

Gas is the lowest priced commodity out of a barrel of oil. A barrel has 42 US gallons in it so at 2 bucks a gallon the lowest value for a full barrel if it was all refined to gasoline is 84 dollars. At 52 a barrel that still leaves a minimum of 32 dollars to refining and marketing.

filled up at 79.9 in Pigeon Lake alberta. JB is correct on the BC tax. Bitch about that people.

Who remembers all the business complaining about the price of fuel as it reache d the $1.40 a litre.. They in turn raised all the prices, now that it’s so cheap why haven’t they lowered their prices back down?

Also you used to be able to roughly go by the price per litre is compared to the barrel of crude.. $80 a barrel made it roughly 0.80 cents a litre. Now it’s around $52 a barrel and we are jumping for joy that gas is 0.89 a litre.. Always being gouged by the oil companies..but someone has to pay for all the billion dollar expansions going on.

PVal you won’t see a correction as diesel is still 1.30 a litre

P Val brings up a good point. What people should also be focussing on is why isn’t the cost of retail goods coming down with gas prices? One of the big excuses that retail liked to use was that the higher cost of retail items was reflective of the cost to transport. It seems those costs have come down, but the prices for what we pay for at the till hasn’t. The extra profits are landing in the pockets of the retailers.