Clear Full Forecast

Cut Another Penny From The Price of Litre of Gas

By 250 News

Friday, June 15, 2007 03:53 AM

    

You are not seeing things.

The price of a litre of gas in Prince George has slipped yet another penny per litre.

Don't get too excited, according to the Canadian Centre for Policy Alternatives Gas Gouge Meter, that is still too high:

"Your gas prices are 21.7¢ per litre above the normalized cost of 94.3¢ per litre in Prince George

With today's crude oil price of $67.61 USD per barrel and the US dollar at $1.07 CAD, the price of regular unleaded gasoline in Prince George should be 94.3¢ per litre at normal profit margins.

At a price of $1.16 per litre, you are paying 21.7¢ per litre in pure excess profit. Across Canada, an extra margin of 21.7¢ per litre generates an additional profit of 21.7 million dollars per day."


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Posted on Friday, June 15, 2007 03:53 AM in News by 250 News

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Comments

Comment Posted by: acrider54 on June 15 2007 6:18 AM
Big deal! Goes up in leaps and bounds then dribbles a bit here and there and everyone thinks they're getting a hell of deal. Just wait a few days...the barrel is on it's way up, you'll see an increase of 5 cents any day.
Comment Posted by: owl on June 15 2007 7:43 AM
You have it all wrong. The price is going to go down by 21.7 cents, then the Canadian Centre for Policy Alternatives won't have anything to bitch about.

By Fall, we will then see some stations close, throwing people out of work, but making those remaining stations more profitable because they will be doing more business.
Comment Posted by: heidi1555 on June 15 2007 8:42 AM
Oooooh la la this is exciting!!!!! NOT!
Comment Posted by: snappi on June 15 2007 8:50 AM
Boy Petro Can sure is popular when it comes to gas prices...are they the only ones that are responsible for the gas prices or is it just the fact that there signage is the nicest.
I don't see any other company signs, why is that?
Comment Posted by: Death to Socialism on June 15 2007 11:12 AM
mmm....signage.....
Comment Posted by: unlisted on June 15 2007 12:05 PM
That’s an interesting comment “Canadian Centre for Policy Alternatives won't have anything to bitch about” I’m pretty sure the majority of British Columbians are “bitching” about the high cost of gasoline and diesel fuel, not just the Canadian Centre for Policy Alternatives. The oil sands are as busy as ever and expanding, people are driving, and oil companies are making huge profits by questionable practices that raise the price of oil. I doubt dropping the price of fuel is going to put people out of work. If so, there is the option to work at the oil sands sending Canadian oil to the states so they are able to buy gas and diesel cheaper than we are.