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Gas Prices Jump

By 250 News

Saturday, February 26, 2011 02:46 PM

Prince George, B.C.- With the  troubles in Libya  and the concerns about the stability of  oil supplies in the middle east,  you just knew the gas prices in our neck of the woods would be going up.

Yesterday  a litre of regular gas cost  $1.159.  Today that same litre  costs $1.239, an increase of a full 8 cents.

According to the Canadian Centre for Policy Alternatives Gas Gouge Meter, the price  we are paying is 9.9 cents a litre too high.

"With today's crude oil price of $97.88 USD per barrel and the US dollar at 98¢ CAD, the price of regular unleaded gasoline in Prince George, British Columbia should be $1.14 per litre at normal profit margins.

At a price of $1.239 per litre, you are paying 9.9¢ per litre in pure excess profit."


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Comments

So stop paying these prices for gas. What's that? You're too cool for public transit? Walking is for poors? Awww.
it is amazing, we have our own oil, produce gas, what am I missing here.
if a house in Texas gets robbed we should pay higher insurance?
If everyone in Prince George only bought gas at one name Gas Bar say Chevron the other gas staions would lower their prices right away....mmmmm then again trying to organize in Prince George...
"it is amazing, we have our own oil, produce gas, what am I missing here"

Easy ... we are not living in Venzuela where they are able to sell oil to the USA at world price but sell gasoline to its citizens at less than half a dollar a litre.

That is what happens when our southern neighbour, Sam, has us wrapped arpound his little finger with that NAFTA agreement.
It`s another friggin scam by the oil companies.When is our government going to stop this crap?
Libya supples less than 3% of the worlds oil and i guarantee none of it is processed at our local Husky refinery,where most of our gasoline comes from.
Any excuse to screw the motoring public.Maybe our new premier will have the balls(actually she won`t)to do say something about it.
Well, maybe buy at petrocan or husky, but not esso, chevron or any of those.
Would your insurance go up if a house is robbed in Texas? Probably if your insurance company is based in the States, which it more than likely is. If you want to know why we pay so much for gas right where we produce it, look back to the 70s/80s when a deal was struck between Alberta and Ottawa to guarantee oil producers in Alberta world prices.
The price we see of a barrel of oil is the price on the futures market ---- not the real price of the oil that was bought by the refineries to produce the oil that we are buying at the pumps today. Speculators that buy and sell oil futures should be obligated to either take delivery or supply oil at some time. The futures markets are not operating the way they were intended when first created. If I am correct I don't think there even was a futures market for oil until about 30 or 40 yrs ago. It is outrageous that the gasoline producers and retailers use that price to justify their wild swings at the pumps. Great oportunity to scam us all --- and sadly, we let it happen.
If this continues we will need a revolution here in Canada, or risk substantial downgrading in our standard of living and the competitiveness of our economy.

This is the biggest scam in world history... the fact we are a net exporter, but pay world futures market prices for our energy... we have politicians willing to sell our country for power.

This 8-cent price increase in one day, because of instability in Libya is the Enbridge Gateway real policy objective. Once they can open our supply more and more to the world market, then the more and more they can justify charging the speculation prices in crisis to our domestic markets... opening up our markets to Chinese consumption speculation is a dream of theirs...a harbinger of peak oil that will see us all live in poverty... engineered poverty as a result of politicians like Harper that work by and for the multinational global oil empire.

We are slaves to big oil because we choose to be. It is well documented that Alberta oil sands are highly profitable at $65 a barrel... that's about 70-cents a liter at the pump... the rest is all windfall profits to globalist finance that owns the multinational oil companies... $40-$50 a week for most working Canadians premium paid to the people who would enslave us with their computer programed 'futures markets' and laugh all the way to a third world tax haven to do business with guys like the dictators that help them justify these 'futures prices'.

We need an export tax on all exports above $65 a barrel. If world prices are $100 a barrel then we collect a $35 a barrel export tax on all exports... use the new revenue to reduce taxes on the working middle class and maybe our children will then have a free enterprise opportunity based economy, rather than an impoverished third world monopoly capitalist economy under a globalist strangle hold...

One can only hope that someday we will have politicians with integrity to protect Canadians from this kind of abuse of our resources. If not our economy will suffer, and in the future we will be much poorer as a result... our children will marvel at how we gave their future away for speculation on theories... theories designed by globalist economists on the pay to surrender our economic viability to the banksters of the world.

AIMHO
I am looking forward to the arrival of an electric car which can be used in this climate and will have a round trip capacity of about 350 km.

Then I will be able to ignore all gas stations and their endless price manipulations.

Nobody is going to do any of the things mentioned like an export tax or some other measure.

The real world does not work like that, leaving all conspiracy theories by the side of the road. There is a huge global demand for oil and Canada is part of the global equation, like it or not.

One can bring ping pong balls to a poker table but the other players won't let one play.

Thieves plain and simple especially in Pr Geo, go anywhere else and gas is cheaper except for maybe Ft Nelson. Even Vancouver is cheaper and they pay 7 cents more for transit tax. 115.9 in Chilliwack 114.9 in Abbotdford, aren't we lucky to be living in the north.
Acrider54 is right. Prince George service stations and oil companies are hosing us. Most of the gas is produced at the Husky refinery and shipped all over North Central BC, however the price in Prince George is always higher than other areas. Considering that the freight charges alone should make gas cheaper in Prince George one has to beleive that they are hosing us.

We know that 99% of the time all stations in Pr George sell for the same price. Its pretty obvious that they do it to us, because they can.
Why is it that when the futures market goes up, our prices increase 8 cents in one day. Yet when the futures market goes down, we have to wait for the gas to filter down through the system?
"Speculators that buy and sell oil futures should be obligated to either take delivery or supply oil at some time. The futures markets are not operating the way they were intended when first created."
------------------------------------------
Ultimately, someone does have to take delivery if they hold the contract on the date when delivery is due. But you're right, the futures markets are not operating the way they were intended.

They're being manipulated by those with access to large amounts of money through their ability to create it exclusively for their own advantage.

Just what that advantage ultimately entails remains to be seen, but it's quite likely going to be finalised in even greater monopolistic control over essential commodities. And through controlling them, controlling us.

Canada could quite easily continue to sell its oil, (and other things, like wheat, electric power, etc., ), at the "world price" internally, as we've apparently agree to do, but also rebate Canadian Consumers by discounting all retail prices by the same percentage that total national Production exceeds total national Consumption by over any same given previous fiscal period.

This gives our CONSUMERS, all of us, because we all consume, a lower "made in Canada" price for our products without running into the international trade problems we'd incur if we are seen to be subsidising PRODUCERS.

The amount rebated would be paid as new credit created by the Bank of Canada 'debt-free'. It allows Producers to get a price here that ensures them as much a profit as they'd get selling elsewhere, but we, as Consumers, get their products for less than we're paying now ~ so no inflation is involved in distributing new credit this way. We can do this as long as our total Production always exceeds our total Consumption ~ which, barring wars or other natural disasters that might impede our Production, is always the case.
Prince George your analogy is completely irrelevant and has no relation to reality.

We own the resources... like oil, and not ping pong balls... its a public resource and as such we have the democratic right to determine how and where it can be exported... your analogy would be more apt to apply to those looking to import our resources, and if they don't want to pay the world market prices for our exports then they can always buy oil and gas elsewhere like Libya or Sudan. The globalist oil companies might complain if their windfall profits were taxed, but so be it, maybe we would eventually have a more domestic oil and gas sector and that would be a good thing for Canadians and the Canadian economy in the long run.

Giving our number one national competitive advantage away to satisfy Wall Street traders because we believe in a ping pong ball analogy is simply ridiculous IMO.
I agree with PrinceGeorge "I am looking forward to the arrival of an electric car which can be used in this climate and will have a round trip capacity of about 350 km."

Only one catch - the crooks in Victoria are raising the Hydro rates by 50% which would only increase with more demand.

Corporate shareholder greed knows no limits and governments don't set limits.

Why cant electic cars be outfitted with a generator capable of recharging the batteries as the car runs. Have 2 sets of batteries, one is charging while the other is running the car, when the ones running the car deplete, it switches over to the charged ones and then starts charging the depleted ones. I feel there must be a way to make an electric car run forever without plugging in the charge, but unless you invent it yourself, it aint gonna happen.
You could get a certain amount of recharging through regenerative braking, but with two sets of batteries you'd lose a lot of energy to moving the added weight. There will always have to be a source of electricity external to the car itself, though it may not always have to be from the electrical sources we're currently familiar with. I doubt we've even scratched the surface of what we'll eventually discover about electricity.
Energy has to be converted to electricity from other sources. Either Hydro projects (dams), burning natural gas ,coal or wood. Solar would work well (Yes even up North) but is costly and years away from being viable. We're either going to pay for gas or electricity. If everyone is plugging in their cars,you can expect hydro rates to sky rocket to pay for the new infrastructure that would be required.
Even if an Electrical Car would be able to do 350km on one charge just to move the Wheels, how would you stay warm or keep your Windows free from Ice, not on the Batteries I tell you. VW had a Car Years ago with a Gasoline Heater to get some extra Heat the Air Cooled Engine could not supply, but again you are back to burning Fuel.
Just made a trip from Mackenzie to Lumby today (Sunday Feb 27).
Gas prices varied widely all the way down.
Mackenzie and PG $1.23
Williams Lake Super Save $1.08
100 Mile $1.17
Clinton $1.22
Savona $1.23
Kamloops $1.17
Vernon & Lumby $1.22

No Sense at all to the pricing - Middle of the province farthest away from the refinery and the lowest prices!!

Go figure
You can use solar panels or wind power to produce hydrogen through electrolysis, and then the hydrogen to produce electricity for the car... its been done... but not very efficient yet.

BTW I was in Kamloops a week ago and they had fuel for $1.09 when PG was 1.159 and yet they have no oil refinery there... that is huge when added up over a year. Also I notice propane is now selling for .67 almost half what gas is selling for... might be worth a conversion soon as they can't export the propane on world market prices....