Gas Price Up Faster Than a Wink
By 250 News
Prince George, B.C. - You know it's Friday when....the price of a liter of gas has been bumped up 4 cents!
Last week at this time, that same liter was 126.9, then it dropped down to 124.9, and now, just in time for your weekend , another four cents have been added to the price.
According to the Canadian Centre for Policy Alternatives, the gas gouge meter indicates, the current price is too high:
Your gas prices are 4.6¢ per litre above the normalized cost of $1.24 per litre in Prince George
With today's crude oil price of $116.69 USD per barrel and the US dollar at $1.00 CAD, the price of regular unleaded gasoline in Prince George should be $1.24 per litre at normal profit margins.
At a price of $1.289 per litre, you are paying 4.6¢ per litre in pure excess profit. Across Canada, an extra margin of 4.6¢ per litre generates an additional profit of 4.6 million dollars per day.
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