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Gas Prices!
Topic Started: Apr 25 2018, 05:11 AM (740 Views)
swing
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swing
Good Lord two weeks ago gas was 114.9, went up to 126.9, now this morning it is 131.9. What the hell is going on, can you imagine summer prices ???
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Dialtone
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Prepare to pay big time, the big oil companies and refineries have us by the short and curlies, the demand for oil has never been higher.

A comment from the Vancouver Sun : Congratulations and thanks to the citizens of B.C. who seem once again to have blocked an oil pipeline to the coast. Those of us living south of the border will continue to enjoy importing your oil at substantial discounts while exporting our oil from gulf ports at world-market prices. Your gift to us, around $100 million per day Canadian, is greatly appreciated. We marvel at your generosity while doubting your sanity. All of this will have zero impact on global climate, of course. "


Contrary to what many consumers assume, Canada doesn't produce and refine much of the gasoline consumed in the country, so prices here are heavily dependent on refiners in the U.S. And gasoline demand is rising just about everywhere in the world right now, so Canada has to pay more for its share.
"Prices in Canada aren't established in Canada; they're made in the U.S.," says Roger McKnight, chief petroleum analyst with En-Pro. "So whatever happens to the wholesale price in the U.S. automatically hiccups into Canada."
Thanks to recent U.S. rule changes, U.S. refineries are now free to sell their product to anyone. "The offshore market is much more profitable, so to counter that, the refining margins have to go up to make it attractive to supply the domestic market," McKnight says.
"Refiners are not ethical altruists, and they go where the buck is bigger."
Crude prices are rising to their highest level since 2014, and that's obviously being passed on to consumers at the pump. For every $2 increase in the price of a barrel of WTI, Canadian gasoline prices generally go up by about 1.2 cents a litre, McKnight says. But that's not an iron-clad rule because different Canadian regions are priced based on conditions at different parts of the U.S. supply chain.

http://www.cbc.ca/news/business/gas-prices-analysis-1.4626692
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Delphi51
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Well said, DT!

One point, Canadian refineries produce more gasoline than is consumed in our country.
Quote:
 
Canadian refineries produce 1.9 million barrels per day (109 billion litres) of refined petroleum products, of which 23% was exported in 2016. Due to regional refinery configuration and trading patterns, 13% of Canadian consumption of refined petroleum products is imported to meet Canadian demand
https://www.nrcan.gc.ca/energy/facts/petroleum/20065
There is considerable movement back and forth across the border such as our biggest refinery, in New Brunswick, supplying gasoline to its neighbours in New England. Prices are determined continentally. A glitch in a refinery in Texas causes shortages in Canada as Canadian gasoline flows south to meet demand there. Canadian gasoline prices appear higher than US ones because we have much higher taxes on gasoline.

Wikipedia has a nice chart of the taxes by province.
Quote:
 
The Government of Canada collects about $5 billion per year in excise taxes on gasoline, diesel, and aviation fuel[8] as well as approximately $1.6 billion per year from GST revenues on gasoline and diesel (net of input tax credits). The Canada Revenue Agency, a part of the government, collects these taxes.

Collectively, the provincial governments collect approximately $8 billion per year from excise taxes on gasoline and diesel.

The federal taxes go into general coffers and help to fund a range of programs: $2 billion of the approximately $5 billion collected from federal excise taxes goes into the now permanent annual Gas Tax Fund for municipal infrastructure. Provincial tax revenues usually go to fund road repair and construction, and additionally in some provinces a portion of revenues (for example, 2 cents/litre in Ontario) is also distributed directly to municipalities.[9]
https://en.m.wikipedia.org/wiki/Motor_fuel_taxes_in_Canada

This raises an interesting point. Do electric cars pay taxes toward roads and bridges, too? I don’t think so. More likely their electric charges are subsidized. When electric cars arrive on a large scale other taxes will have to rise considerably to make up the shortfall.
Edited by Delphi51, Apr 25 2018, 07:55 AM.
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agate
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Gas is $1.44.9 here in the Wack. My son was out yesterday and it was $1.58.9 at his place!!!

Maybe not to much travelling going to happen this summer.
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Shorty
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We’re usually higher than other inland cities. For over 3 weeks we’ve had a price war. For a few hours it was as low as 1.049. Mostly in the 1.15 range.

Yesterday the leaders were still at 1.239. This won’t last long. One was at 1.479.

Since our car requires premium, we didn’t get as significant drops.

In the GVR they have extra taxes so it annoys me when we’re the same as them.

Costco gas bars are our friend. There are none in this valley.

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erka
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Agate: 1.589 is the norm in metro van - always at least 17 cents higher (transit tax)

Shorty: 1.589 is for the low grade gas.
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Trotsky
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Big City Boy
Are their any plans to start selling gas by the teacup?
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Delphi51
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Are gasoline prices higher than in the past, considering inflation?
It would be interesting to recall some prices from the past.

I remember filling the tank of my Datsun for $5. The 71 Datsun cost $2550 new, suggesting inflation of roughly ten times in both cases. I had a very good summer job as a power plant operator, paying $390 per month.
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blizzard
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Who has teacups these days. More likely a ‘short’, or is it ‘tall’ one use only Starbucks paper coffee cup.
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Trotsky
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blizzard
Apr 29 2018, 03:59 AM
Who has teacups these days. More likely a ‘short’, or is it ‘tall’ one use only Starbucks paper coffee cup.
Somebody here last week spoke of her Royal Doulton (I always think of Hyacinth.)
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Shorty
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We jumped to 1.479.

In the GVR there are robbers drilling into gas tanks to steal gas. $1000 dammage and $300 deductible.

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wildie
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Shorty
Apr 29 2018, 06:16 AM
We jumped to 1.479.

In the GVR there are robbers drilling into gas tanks to steal gas. $1000 dammage and $300 deductible.

I filled up at the CTC pump yesterday for the princely price $1.199! Lat week it was $1.349 I filled up right to the very top.
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Kahu
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Here's what we have to face in the near future ...

Electric Vehicles

"Climate change is my generation's nuclear-free moment," Ms Ardern said in a release. "We have to take our place in the world to combat this problem, we have to show leadership".

"For too long, we have set targets and not done what's needed to achieve them ... that's why Labour will set up an independent Climate Commission to examine what reductions can practically be achieved by each sector and recommend emissions reductions targets.

"The Emissions Trading Scheme is at the core of delivering on our targets ... we have always had a policy of an all sectors, all gases regime and that remains our policy.

Labour's climate promises include government electric cars, Climate Commission
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agate
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Our price fell to $1.42.9 today...yippy
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heatseeker
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We were filling up here in eastern Ontario the other day, where gasoline is about $1.30 a litre. A woman at the other pump was complaining that her monthly gasoline cost for her Honda Civic is more than her mortgage.

Have to assume that discretionary driving, everywhere in Canada, is going to be reduced considerably.
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