I firmly believe if it wasn’t for the Costco gas station being here we would have amoung the highest gas prices in the province instead of being below the average cost that we now enjoy here

I believe you’re right Dearth. We didn’t have lower gas prices until Costco opened their gas bar.

Prices should be under a dollar P/L the barrel price is under $40.00 robbed all over this province as usual.

Alberta is having some huge revenue problems because of the price of oil. Looks like they will have to start cutting programs, jobs, etc; etc;. Not exactly what they had in mind going into this election. Some hard decisions will have to be made. It will be interesting to watch.

I am curious as to why the high cost of gas at the pumps vs the low barrel price hasn’t been discussed in this election. I am pretty sure when the price of oil starts to rise again, the prices at the pump will quickly rise immediately . Our current costs should be less then a dollar a litre. Someone is making some impressive profits.

RE: Alberta, the reason that they are having such huge problems right now Paplopu is because they were so poorly governed under the Conservatives going back to the Ralph Klein years.

You have to remember that the quoted price of oil is in US$. There is a 33% difference right now between the CAN$ and the US$. If they were on par, as they used to be before the oil slump hit, the price at the pump would be close to 90cents here.

And why is the C$ taking such a beating? Because we have been living with a petro$ thanks to those blue-eyed Sheiks like Harper who do not know how to stimulate the development of a diversified economy.

This evening’s Gas Buddy shows the cost of the cheapest gas in north-eastern Washington State being at the Sumas crossing. It is $2.45/US gallon which is 3.785412 litres. The cost per litre is US$0.647.

The present rate of exchange is US$1.00 = CAN$1.33. That makes the price of gasoline at that service station C$0.86/litre.

At the moment the price of gasoline at Costco is $1.099/litre.

Looking at it another way, if the Can$ were on par with the US$ the price should be C$0.826/litre at Costco.

As always, the difference in cost of gasoline between BC and Washington State is the difference in the gasoline tax structure of the two countries and province and state.

Taxes factor in the taxes and that ridiculus carbon tax based on a scam of which no scientist has come forward with empirical verifiable proof that man is affecting climate and if he is how much, nothing nada.

Anyhow non tax portion of pump prices are mostly affected by refining costs and speculators. Oh and a lot of these speculators also dabble in the carbon market making money both ways. Got that out of the Wall Street Journal.

Anyhow non tax portion of pump prices are mostly affected by refining costs and speculators. Oh and a lot of these speculators also dabble in the carbon market making money both ways. Got that out of the Wall Street Journal.
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You nailed it seamutt!

I’ve said it before and I’ll say it again now. Supply and demand. Cheap oil is NOT gasoline or diesel, it’s simply oil and just because there’s a glut of it doesn’t mean there’s a glut of gas or diesel. If people truly want lower prices then it’s up to them to cut the demand. Of course that may mean trading in the super crew quad cab for maybe a Civic sedan but really how many owners actually use the truck as a truck, not many is my guess.

I have a friend who bitches up a storm every time he fills his super crew quad cab , the funny thing is is that in the 3 or 4 years he’s owned it he has never ever used it to haul a damn thing, seriously not one thing. You could literally eat out of the box of his truck. He could easily get by in something much more fuel efficient but no, he says he needs his truck. This is the same guy who fills at Esso for the “free” air miles, he can’t comprehend the fact that is he is paying 5 to 7 cents above Costco he is paying for those air miles.

Sorry chumps but the low dollar is no excuse. I remember when the dollar was 64 cents under the liberals and gas was still cheaper than this.

“I remember when the dollar was 64 cents under the liberals and gas was still cheaper than this.”

I fail to see the connection. Please explain.
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When economic forecasters look at various indicators for economic well-being and they look at forecasts for the price of gasoline at the pump they use US dollars/litre rather than Canadian dollars per litre since they are forecasting the future price of oil which is given in US$. They are thus using one variable. If they were to forecast in C$ they would be looking at two variables, the oil price fluctuation and the currency exchange rate fluctuation.

The exchange rate of the dollar most certainly is one of the variables when looking at the changing price of gasoline at the pump.

Going back in history, the trend of the price of gasoline has been an upward trend from the start, as has the price of most other commodities.

BTW, I remember when the Canadian dollar bought $1.07 US under the liberals in the 1960s. The price of gasoline in the mid 1960s was around 45 cents per imperial gallon. That equals 10 cents per litre.
In the same year, the price of a US gallon of gasoline was 30 cents US.
Strange …. There were no carbon taxes in those days … ;-)
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energy.gov/eere/vehicles/fact-859-february-9-2015-excess-supply-most-recent-event-affect-crude-oil-prices

The above link shows world events which have influenced crude oil prices for 1970 to 2014.

When gas was 64 cents a gallon and how much where you earning then?

Carbon tax is an added tax making the cost even worse.