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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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Comments

It's below .90 cents a liter in Toronto. Day 2000 of getting bent over by the oil companies.
92 cents in Edmonton
Damn auto propane still at 64.9
Well, its a start, they still need to get rid of the old priced oil in the system before they can make the adjustments. It will be below 90 cents by christmas.
"It's below .90 cents a liter in Toronto"

Then move to Toronto. I'm sure the price of housing and the amount of gas you would use (and thereby pay for) is consistent wth PG. You are bound to come out ahead.
"It will be below 90 cents by christmas"

Could very well be He speaks. Mind you, all that will really accomplish is to get people thinking that prices will stay down, when we all know that they won't. It's going to be a short-term drop. Once the world economy picks up again in 12-18 months (maybe even sooner), you can bet that prices will jump right back up and you can bet that all the people continuing to drive gas hogs will be back to the standard complaining. It's all way too predictable :)
NMG never mind where I live or what I complain about. What are you posting for if you are happy with the price of gas?
NMG you are correct, as the price of our oil per barrel hits 120 dollars a barrell in a couple of years, the fuel price will be even higher than the 1.40 a liter. Now that they have established a level of tolerence.

As I mentioned before to my friends, 40 years ago, a person would pay $0.50 a gallon for fuel. And get paid $3.00 an hour. Its $5.00 a gallon and its $30.00 an hour. We were just living a lie for the last 25 years, and now we have to wake up and pay what it is worth.




Who decides what it's worth? You? What lie have we been living? The mid east has been controlling how much we pay by controlling how much they allow on the market. We should have been paying a lot less.
"Who decides what it's worth"

What it's "worth" is completely irrelevant. That's kind of like saying that the diamond on our spouses ring is only worth $2.50. It has no bearing whatsoever to what that diamond sells for, or more importantly, what we are willing to pay for it.

At the end of the day, the only thing that matters (and the only thing that we can control) is how much of it we use. Use less and we will spend less. If everyone used less it would reduce overall demand, which could lower prices. If demand stays up so will prices, at least until alternate technology makes the use of oil based fuels redundant (and that will occur with time).

Most people out there can indeed make choices to use less and thereby reduce their costs. You just have to look at all of the used trucks and SUV's on the market to see this in action. The problem is that most people don't want to do it. In an ironic way, this implicitly means that they think what they are paying is "worth it". If it wasn't, they would change.
Predictable is right NMG.

"We'll just raise the prices of gas to 1.50 then the suckers will be extremely giddy when we lower it back to 1.05 (which is still too high but what do they know? they are used to 1.50) and drive, drive, drive!! Then creep our way back up again maybe even to 1.60!!!"

Total circus. Crawling down the potholed cement on my face with 3 kids on my back is looking so good right about now.
NMG is right.
It WILL be short lived, and when it goes back up,it is going WAY up!
And do we also forget that winter is coming and the demand on heating fuel alone,will climb severely?
And Christmas travel time?
Let's not make the assumption that the pricing structure of fuel is above board and legitimate.
I think we know better than that!
And diesel is still over 1.20/litre
wassup with that?
metalman.