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Friday, May 15, 2009

The summer of fuel gouging is bck

Posted on Fri, May 15, 2009 at 10:05 AM

Why does no one freak out about gas gouging? It sems everytime the jack the prices..waaaay up no one blinks. status quo.."oh well, nothing we can do about it" oh yes there is! Bombard the oil companies, government and retailers with emails. FYI, the price of gas here is not regulated by local refining costs, transporation costs, or, what some believe...incredibly, the price at the pump in NB. The government of NS, big oil, and retailers claim it is dictated by New York dock prices for . If that were the case, we would be paying the same price as Ontario..they get their gas from the same place. Over 50% of costs for a litre of gas comes from the price of the dock.

It just drives me insane watching the price of crude slide downward (ya, sadly I watch BNN) thinking "oh boy! of course the price at the pump will fall in lockstep" ) only to see NS jack up the price..because they know we will think "oh..well it went up ext door so of course it will go up here." I understand market fluctuations, b ut not when there is a growing surplus (BNN again) of oil reserves in the U.S. I don't even use that much gas, it just drives me nuts because it jacks up the price of everything that is moved, or produced by fossile fuels. When the price of crude drops 35 bucks a barrel, the price at the pump drops 11 or so cents, but the formula does not work in reverse. When the price per barrel goes up 3 or 4 dollars, they ratchet up the price at the pump way out of proportion. grrrrrrrrrrrrrr


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