Gas Price Dips Below $1.00

Tuesday, January 26, 2010 10:33 AM

Prince George, B.C.- The price of a litre of regular gas has dipped below the $1.00 mark.

Although that is the lowest it's been in some time, it is still too high according to the Canadian Centre for Policy Alternatives' Gas Gouge Meter:

"Your gas prices are 1.7¢ per litre above the normalized cost of 98.2¢ per litre in Prince George

With today's crude oil price of $74.79 USD per barrel and the US dollar at $1.06 CAD, the price of regular unleaded gasoline in Prince George should be 98.2¢ per litre at normal profit margins.

At a price of $1.00 per litre, you are paying 1.7¢ per litre in pure excess profit. Across Canada, an extra margin of 1.7¢ per litre generates an additional profit of 1.7 million dollars per day."

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Posted on Tuesday, January 26, 2010 10:33 AM in News by 250 News

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Comments

Posted by: faxman on January 26 2010 11:01 AM

What's wrong with "pure excess profit"? Absolutely nothing. People keep buying it so the price doesn't really appear to be an issue.

Posted by: meise1 on January 26 2010 11:21 AM

what other fesable choice is there beside walking?

Posted by: shorty on January 26 2010 11:53 AM

You could buy your gas at a Full Service station and force the big fat cats to create jobs, the price is the same.

Posted by: meise1 on January 26 2010 11:57 AM

ya or OUR FN govnment could go back to regulating all OUR natural resorces so we as canadians pay cost.Right now you and I are paying for our own royalties lol

Posted by: swingline on January 26 2010 1:09 PM

http://en.wikipedia.org/wiki/Price_controls

Posted by: meise1 on January 26 2010 1:23 PM

So what does that have to do with paying for resouces at cost(meaning whatever it cost to get the product to me.no profit,just cost)sell for profit by exporting. god I must so fn dumb,I cant see why the solution are so complicating to others

Posted by: pgmatt on January 26 2010 3:07 PM

Now i can go buy that Hummer!

Posted by: Palopu on January 26 2010 5:58 PM

65% of all gasoline consumed in North America is by recreational users. In other words people who drive to the store, theatres, shopping centres, to visit friends, and just generally drive around staring out the window, complaining about pollution.

The Malls are full of these people everyday. Some shop, some just sit around and drink coffee, but all of them burn fuel to get there, and to get home.

The sooner we burn up all the diesel and gasoline, the sooner we will have to find an alternative fuel. If I dont burn my share, then someone in China, Indonesia, Russia, or someplace else wlll burn it for me. So I guess I'll take a little spin, and see whats happening.

Posted by: Harbinger on January 26 2010 7:13 PM

Ah, yes. Pay at the Pumps. Hmmm? Seems to me I heard the guy responsible for that is now out of jail. Maybe in a half way house, most likely. Again, life is cheap. Tsk.

Posted by: MrPG on January 26 2010 8:31 PM

Pay at the pump, remember the cries of outrage on that one? It is huge convenience and saves a lot of time. It's too bad that it took a tragedy to make me (and many others) figure it out.

Posted by: Kevin Parkinson on January 27 2010 8:04 AM

We have a costco here at Grande Prairie with gass pumps never has it gone beyond 87.6 no matter what the other guys are doing or charging.We need one in Prince George for sure.I think it's around 85.9 when I filled up on Sunday.

Posted by: Harbinger on January 27 2010 5:48 PM

No price fixing on milk here. A few cents difference, but no price fixing. Ya right.