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Gas Jumps 8 Cents

By 250 News

Tuesday, April 01, 2008 04:58 PM

Prince George, B.C. - The price of a litre of  regular gas  jumped  8 cents over night.   Drivers  are now  paying 126.9 cents a liter,  up from 118.9

The increase is well above the  normalized price says the  Center for Policy Alternatives.

The Center says the  Prince George  gas prices are 12.0¢ per litre above the normalized cost of $1.15 per litre in Prince George

"With today's crude oil price of $100.76 USD per barrel and the US dollar at $1.02 CAD, the price of regular unleaded gasoline in Prince George should be $1.15 per litre at normal profit margins.

At a price of $1.27 per litre, you are paying 12.0¢ per litre in pure excess profit. Across Canada, an extra margin of 12.0¢ per litre generates an additional profit of 12.0 million dollars per day."


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Comments

Me thinks I be parking my jetboat this year.

GREEEEEEEEEEEEEEEEEEEEEEEDY PIGS
Hey, pal. They have an obligation to their shareholders. Doncha know?
IT JUST SUCKS!!!
Funny nobody mentions all of those employees making a killing working in the oil patch away from their families and civilization. Or, in support businesses that make their living servicing all of those companies. Many jobs are created from oil and gas development.

A young fellow I know well has been earning his living for the past 3 years welding and manufacturing truck bodys for all those trucks you see in the oil patch. So, the benefits are spread around.

If we all did our part to reduce comsumption, the demands would decrease and so would the prices. We are our own worst enemy's. Greed, excessive lifestyles, consumptive lifestyles contribute to the whole process.

Don't just blame the companies and shareholders for taking advantage of an opportunity. Chester
Since breaking the $1/per litre psychological barrier, the price of fuel has skyrocketed.

Then again, the same can be said for oil by the barrel.
Andyfreeze... how is that trip pulling the 5th wheel to Alaska looking now?

I suppose you could pull some RRSP's to finance the fuel costs.

LOL
This is our free enterprise economy at its finest hour.
I like to be kissed when I get screwed.
Going anyway realitysetsin!
These prices are going to be a fact of life I am afraid, so may as well just bite bullet and get used to it!
I'll send you a postcard!
Cheers!
:-)
You only live once Andyfreeze go for it..

-The shit is going to hit the fan pretty soon anyway here if this keeps up. They can only bleed us so much before people quit buying gas..(Well maybe not quit but a great reduction is on the way.) Reduce the demand for gas and the prices will follow.
Several hundred million Chinese are working hard and saving money to buy their very first car! So are several hundred million Indians (in India, not Canada)and they too will soon drive to filling stations to fill up their chariots! Then, there are many hundreds of millions in other countries who will do the same! Plus, the total net world population is still growing at an additional 70 million or so new souls each and every year! That's another billion in another 14 or 15 years!

Oil production peaked in the 1970s.

Gas at 129.6 cents a liter will soon look like one of the best bargains we ever had!

It'll double and then soon double again!
Was funny reading about the oil executives talking to US Congress today saying that a $40 Billion profit for 2007 (Exxon) was...., although high in absolute terms, need to be viewed in the context of the scale and cyclical, long-term nature of our industry as well as the huge investment requirements," said J.S. Simon, senior vice president of Exxon Mobil Corp., which made a record $40 billion last year.

"We depend on high earnings during the up cycle to sustain ... investment over the long-term, including the down cycles," he continued.

These guys can give the politicians lessons on making a long winded speech but saying almost absolutely nothing.

Now, a lot of these companies are running their refiniries at 70% capacity to push the price higher.

Chester is right in one thing, though. There are a lot of people in BC making a killing in the oil fields themselves. Stories abound from the Peace of crews going to a gas station and asking the employee what they were making. When they said $8/hr, the oil crew would say " you want to work for $25/hr?".Of course, the person went to work on the patch.

Check Time magazine this week there is an extensive article on oil and oil exploration that it pretty good.
Ah yes it's all the greedy Westerners fault. If we consumed less the price would go down. If I consumed any less I wouldn't be able to go to work.
Ditty - How is this free enterprise? Can you explain?

I figure it is the enemy of free enterprise and I think it is more a result of monopoly corporatism. IMHO
crude trading at just over $100 a barrel, about what it was when we were paying $1.08 a liter.
And no one seems to know who this mystery person is that decides when to raise the price.
The mysterious phone call arrives and up it goes.
I doubt the government cares, they are getting their share, the higher the price the greater the share.
The regulators, well in my opinion, they are in the pockets of the oil companies, so they too are probably getting their share.

Boycotting in Canada doesn't work.
Only the local dealer will feel the pinch.

If there is anyone who has an idea on how to do someting about it, that is legal, I am all for it...pass on the info.

Parking it isn't an option, though the amount of trips and miles has sure been cut back.
It appears that the mentioning of the huge world population number and the fact that it is still growing, together with its insatiable demand for the world's resources is as taboo as f*rting loudly at a funeral.

The ostrich approach solves everything.
Is there a reason why a local person, or group could not open an independant station in PG, and charge whatever they like?
I hear so much complaining, and yes, i to hate the high prices.
But i never see an independant discount gas station open. HHHHHHHHHHHHMMMMMMMMMMMMMMMMMMMMMMMM
An independent gas station would have a tough time competing with the big boys.
If they wanted to squash their upstart competition, they would just have to lower their prices for a couple of months.
This is assuming that the refinery would even sell product to them at competitive rates.
metalman.
If all paid the same amount from Vancouver to here it wouldn't seem as unfair as it is, just does not make sense. Yesterday I drove up from the coast. 1.05 in Boston Bar and a buck 25 in PG. Written on the wall at head office of an oil company is the slogan... 'once you have them by the balls their hearts and minds will follow'. I don't think we have a choice.
just read in the paper that the us congress is considering getting rid of their (the oil companies) tax breaks. this after a profit of 123 billion dollars...i think we can pay just a little more...NOT
The reason there are no more small independant gas stations anymore is the oil companies,plain and simple.
If the Ma and Pa operations wouldn't agree to franchise,the oil companies just quit selling them gas.
(our governments also allowed them to do this)
Down the tube they went.
The same thing would happen today.
None of the oil compamnies would sell an independant any fuel.
Its exactly what happened with the big forest companies and the little gypo's.
Government gave the big guy's the timber rights to sub-contract to the little independants.
except the big guy's decided to give it all to themselves.
We all know the end of THAT story!
(Oh, and the government allowed them to do that too.)
So much for free enterprise eh?
Guess who REALLY runs this country?
Saw a bumper sticker once. It read, "Free enterprise is too expensive".
I don't beleive you never will Turbocat....the big gas companies have it all tied up and own all the refineries...so you charge the price or they won't sell the gas to the stations, or as an owner of said staion don't expect to make any money.
and the lib's are going to add a moronic carbon tax on top of this. The utter stupidity of that is beyond belief.
darkken said quoting an oil executive, "We depend on high earnings during the up cycle to sustain ... investment over the long-term, including the down cycles,"
This reminds me of an essay written by Arnold Toynbee in 1974 about the justification for the rise in oil prices. It was titled "Making Greed Look Respectable."
I'm telling you, the only way to screw the man is to use less of the stuff.

That or score a job that provides a company vehicle.
I agree realitysetsin,but it is just not a simple thing to do!
In fact,for most people it is almost impossible.
How the hell do you organize a boycott against these guys?
I'm telling you, the only way to screw the man is to use less of the stuff.

That or score a job that provides a company vehicle.
They are selling our resources and making us pay more for them. We should tax the hell out of them and reduce our own. If they leave then we take over the oil patch and produce it ourselves and sell it back to us at a much reduced price.
Maybe if you publicized a planned boycott. Like 'Earth Day'..perhaps it might help get the message accross. A bycott to the 'Carbon Tax', might go hand in hand.

Wonder who provides Co-ops fuel. Maybe attract consumers to a smaller organization for a few days...

We in the Interior and the north are paying are paying the highest price in B.C. and Canada check out http://www.bcgasprices.com I can never get websites to highlite, sorry.
Now here is a prime example of what we are actually dealing with when it comes to the oil barons!
-April 02/08 spot gas prices down on brimming supply.(natural gas)
-April 03/08 spot gas prices up on tight supply market.
So does anyone else see a game being played here??
And it isn't just happening with natural gas...these greedy bastards are out of control and our elected leaders are in it up to their useless asses!