Goin' Down!
By 250 News
Thursday, May 24, 2007 11:48 AM
Gas prices around Prince George are starting to slip.
Yesterday they were 127.9. This morning, they have dipped to 124.9. According to the Canadian Center for Policy Alternatives, Prince George is still paying too much.
The Centre's Gas Gouge Meter, indicates we are paying 31.5 cents more than the normalized cost of 93.5 cents a litre.
The Gas Gouge meter report says :
With today's crude oil price of $65.45 USD per barrel and the US dollar at $1.08 CAD, the price of regular unleaded gasoline in Prince George should be 93.5¢ per litre at normal profit margins.
At a price of $1.25 per litre, you are paying 31.5¢ per litre in pure excess profit. Across Canada, an extra margin of 31.5¢ per litre generates an additional profit of 31.5 million dollars per day.
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