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Why is it that when world gas prices go up by a dollar or two it affects us at the pump by almost 5 or six cents per litre but when it goes down almost $16.00 in the last two weeks it only moves down by a cent or two???????? Just asking!
This article appears in Jul 24-30, 2008.
7 Comments
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For one Gas price is not set based on future crude prices but rather Spot prices for the product itself. Remember regulation is based on past data in all regulated gasoline markets. That means the next time the price is set it will be reflected in the price unless there is an upswing in the market then the drop would be reduced. Wait and see.
For one Gas price is not set based on future crude prices but rather Spot prices for the product itself. Remember regulation is based on past data in all regulated gasoline markets. That means the next time the price is set it will be reflected in the price unless there is an upswing in the market then the drop would be reduced. Wait and see.
This is exactly why regulation is fucking useless for us, the users. It is good for Wilson’s, Exxon, the government, but not us. The price of gas has gone down a dime or more in other areas with no regulation because the NY spot price dropped 20-30 cents/gallon, this is how a market commodity should be kept.The regulators at INservice NS have to increase it a lot if the price goes up, because what if it goes higher in the next days? They also bring it down marginally because what if it goes higher in the next days? See how we get screwed? No one knows what will happen, so they keep it high to keep Wilson’s et. al. happy (and to line the pockets of the government’s account). Also, what is the point of regulation if the price changes every week and there is an interrupter clause? I think it is clear that regulation does nothing for us, but the Cons will not remove it, wonder why?
Watch the share prices of the big oil companies… They pretty much go up and down with the world price of oil.. Buy ’em low, sell ’em high, wait for them to go down again, and start the cycle over again… With on-line discount brokerages its cheap and easy…If you can’t beat ’em, buy ’em.
Agreed Floyd, might as well use your profits from oil shares to buy a new hybrid. That’s not being a hypocrite is it?
if you have stopped at a tim horton’s or mcdonald’s drive thru, you are as much to blame for the gas companies getting rich.The 2 cents of gas you wasted, are part of the $360k in gas that is spent by us Canadians between the hours of 6-9 am at drive thrus. Do not think your 2 cents is contributing much? Lets just say you holding a hat is like the gas companies, and you asked every canadian to put 2 cents into that hat. That two cents will seem insignificant to each of the canadians, but you holding the hat just made $700,000. gas companies get rich because we use way more fuel on trivial shit.
No more Big Macs for you!