Every Penny Counts!
By 250 News
Sunday, November 02, 2008 06:50 PM
Prince George, B.C. - The price of a liter of gas has dropped another penny in Prince George, settling in on the amount we last saw in December of 2007. While the reduction is making many smile, the Canadian Centre for Policy Alternatives Gas Gouge Meter says that is still 5.9 cents too high :
"Your gas prices are 5.9¢ per litre above the normalized cost of 99.7¢ per litre in Prince George
With today's crude oil price of $68.28 USD per barrel and the US dollar at $1.20 CAD, the price of regular unleaded gasoline in Prince George should be 99.7¢ per litre at normal profit margins.
At a price of $1.059 per litre, you are paying 5.9¢ per litre in pure excess profit. Across Canada, an extra margin of 5.9¢ per litre generates an additional profit of 5.9 million dollars per day."
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