Gas Prices Slip Further
By 250 News
Sunday, October 14, 2007 11:02 AM
The price of a litre of regular gas has slipped in Prince George. Down a further 2 cents to 103.9 per litre.
The Canadian Centre for Policy Alternatives Gas Gouge Meter indicates that is still too high.
"With today's crude oil price of $83.69 USD per barrel and the US dollar at $0.97 CAD, the price of regular unleaded gasoline in Prince George should be $1.00 per litre at normal profit margins.
At a price of $1.039 per litre, you are paying 3.6¢ per litre in pure excess profit. Across Canada, an extra margin of 3.6¢ per litre generates an additional profit of 3.6 million dollars per day."
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3.6 cents of pure excess profit is considerably better for the consumer than the much higher excess profit there was in the summer, if I remember correctly.