Gas Prices Jump 4 Cents a Litre
By 250 News
Prince George, B.C.- Officially we are still three weeks away from the next long weekend, and summer doesn't arrive until the 21st of June. So there were plenty of surprised people today when the price at the pumps jumped 4 cents a litre overnight.
The Canadian Centre for Policy Altrnatives Gas Gouge meter indicates we are paying 6 cents a litre too much:
"With today's crude oil price of $86.07 USD per barrel and the US dollar at $1.02 CAD, the price of regular unleaded gasoline in Prince George should be $1.04 per litre at normal profit margins.
At a price of $1.099 per litre, you are paying 6.¢ per litre in pure excess profit. Across Canada, an extra margin of 6.¢ per litre generates an additional profit of 6. million dollars per day."
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Nah, there is no price fixing or conspiracy. Its just normal economics the the price of fuel goes up at the beginning of the travel season. And all the retailers are just jumping on the same band wagon.
Riiigghhtt.