History quiz- Can someone tell me how much gasoline was the last time oil was $113.00/barrel? As of now 2:17 pm Aug. 11 oil is trading @ $113.20. Gasoline is still $130.00/litre. There is something wrong with this picture. I know it is an old song and dance that when oil goes up then price increases are pretty much automatic….why is the converse not true???? Tired of the bs. answers from the people that sell this stuff to us….
This article appears in Aug 7-13, 2008.
It was about $1.20 per liter in mid-April when crude was at $113.89 per barrel. I think you’re being gouged by paying $130.00 per liter, might want to change gas stations.
Both of you do not understand how the price of gas is set in regulated provinces. Please do research before bithching about something you have no idea about. Crude is not the benchmark the New York Harbor spot price is. This is currently around $2.85 US/gallon back when oil was 113 this price was $2.78, and oil is not 113 it is $114.5 US/barrel. And back when oil was 113 the Canadian $ was worth 0.995 US it is now worth only about 0.935. remember the price has to be converted into Canadian to compair apples to apples. I agree that the price of Gas is high it just bugs the shit out of me when stupid fucktards have no idea what they are bithcing about. Research Please!!!
Informant, I know full well how the price of gas is set in NS. I was merely answering his question HOW MUCH GAS WAS BACK IN THE DAY without getting into the whole spiel of how the NYHSP over the period of Thursday to Wednesday is averaged. Then on Thursday at noon, the CDN dollar currency is used to convert the average US price to CDN funds, the converted to the metric system, then added 6 cents as wholesale margin, then added 25.5 cents in excise taxes, then a 4-5.5 cent retail margin and finally the HST. So fuck you for assuming that I don’t understand the regulation system.The NY harbor spot price is currently 283.55, down 3 cents from yesterday. Doing what I said in the paragraph above, we would be paying 126.1 cents per liter if this were a market commodity, like it should be.
Sorry Fred, you seem to know your shit. My orignial comment should be changed to “OP you do not…”. I would argure though that in an unregulated market you would get the 126.1 as industry is usually slow to lower the price to make sure it is a downward trend and will not just jump back up a day later. And look at NB they don’t have a minimum price and according to MJ Ervin they acctually pay more if taxes are not taken into account, why are they not passing the lower price on to consumers? Gas buddies shows the Canadian average only went lower by 0.7 cents in the past week no change since yesterday while Halifax shows a 1.2 cent drop over last week.
I know we wouldn’t get the 126.1, there is always the greed factor that is hard to guesstimate. I noticed that NB doesn’t have a min, I suppose that is why they had that mini gas war the other week. I’ve never looked at their system too closely. How does MJ Ervin figure they pay more (link maybe)?This past week the NY price didn’t change much, and it was offset by the dollar losing ground. Our price went down because 2 Friday’s ago, the price should have went down (by 1.5-2 cents) but the greedy government (in conjunction with Oil) kept it at 132.2. I called INservice NS’s minister on it and last week it went down… They tried to use the argument that on Wed the price “shot up” (it was 300 cents versus the other days at 292-295 cents…), which averaged out. The legislation says that they average the past week’s price and use that, hence why we are a week late in our prices. And I don’t think they are allowed to forward average because you can’t predict the future.
The oil was already bought at the higher rate, it would take MONTHS of low pricing, not just a day before the price starts to downwardly reflect the change. However, when the price goes up you prepare by giving an approximation as to how it WILL be. Basically, the gas stations are at the mercy of the wholesalers and the govenment. Don’t like it, overthrow the government and stop shooting at the suppliers with tanks and carpet bombs!