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Author Topic: Gas Prices in Canada not following the steep price decrease  (Read 8714 times)

Offline Ottawa

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Gas Prices in Canada not following the steep price decrease
« on: September 10, 2008, 09:26:48 am »
Here is a snapshot showing
Average Canadian gas Prices (in $/G)
Average US Gas Prices (in $/G)
Oil price chart ($/B)

interesting to note that since Mid July 08 (peak)
Average Canadian price retreated by 6.2%
Average US price retreated by 12%
Oil Prices retreated by 28.7%

I know that Oil is a business of futures and stuff, but nevertheless, It will be interesting to see if gas prices would drop down to $1.05 or so. Obviously as always, we are always lagging behind the States.
By the way, we now pay 36% for Gasoline in this country than the US.
Enjoy

http://www.bostongasprices.com/retail_price_chart.aspx
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swishguy

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #1 on: September 10, 2008, 09:49:29 am »
I just got back from a weekend in Minniapolis. Gas there was $3.41 a gallon.
In brandon Manitoba we are paying $1.32 a liter!!! $4.98 for a US gallon.
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Offline tenpenny

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #2 on: September 10, 2008, 09:56:31 am »
The price in NB is set at the New York rack price, plus a margin.

Reset every week.
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Offline Guy

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #3 on: September 10, 2008, 10:01:09 am »
With the barrel at $103 plus the x-rate at 1.06, the price per liter should be in the $1.05- $1.10 range.
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Offline wing

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #4 on: September 10, 2008, 10:08:42 am »
$3.41 a gallon?  geez, not but a few weeks ago it was $4.40 or so in upstate NY, I hear it has dropped to about $3.90 or so.  Why don't we get the same break?
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Offline tpl

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #5 on: September 10, 2008, 10:09:57 am »
yes. I had noticed that back in summer pump prices seemed to fall with the crude price and now they are lagging behind. Am I surprise?  Nope.
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Offline johngenx

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #6 on: September 10, 2008, 10:24:05 am »
Hurricane Ike.  It's Wednesday.  The Collider was fired up.  It's a full moon on the 15th.

Take your pick of why gas is still high...
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Offline ktm525

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #7 on: September 10, 2008, 04:53:15 pm »
The Canadian dollar has weakened considerably against the US through the summer. That is causing some of the price difference. The strengthening US dollar has made the drop in crude price seem larger. Exchange rate is now 1.07 Cdn = 1 US.
« Last Edit: September 10, 2008, 04:55:16 pm by ktm525 »
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Offline Snowman

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #8 on: September 10, 2008, 04:57:11 pm »
Quote from: ktm525 on September 10, 2008, 04:53:15 pm
The Canadian dollar has weakened considerably against the US through the summer. That is causing some of the price difference. The strengthening US dollar has made the drop in crude price seem larger.

 :thumbup: Ya beat me to it. As with other commodity prices, the go down but since everything is sold in USD the impact to Canadian suppliers is not as dramatic as it appears.
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Offline random006

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #9 on: September 10, 2008, 05:12:37 pm »
Maybe but not THAT much.  The dollar has dropped about 8 cents or so.  The price of oil has dropped about $40.00 US in the same time frame.  Those 8 cents cannot absorb a $40.00 price drop, not even close.

John is right.  The price is still out of whack with the price of the crude oil to which it ought to be related.  Short term factors are being added in, sometimes unnecessarily, thereby padding the price.  Right now, the price ought to be around $1.17 or so a litre in Quebec and not the $1.31 it is currently.  It was certainly headed in that direction until about 3 weeks ago.
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Offline rrocket

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #10 on: September 10, 2008, 05:15:23 pm »
I have noticed....over the course of the last several months...that generally whatever the price per barrel is, is pretty close to what our price per liter is.  So when oil was in the $130 range, our gas was $1.3xx a litre.  Yea..we're getting jobbed on gas prices, especially in big metro areas.  In Windsor, gas has been in the $1.22 range, whereas 40 kms away it's in the $1.17 range.

As far as the US dollar gaining ground....it hasn't gained anymore that 8 cents or so.  I know because I buy US dollars almost every week....
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Offline Snowman

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #11 on: September 10, 2008, 05:30:40 pm »
8 cents represents hundreds of millions when exporting.
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Offline rrocket

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #12 on: September 10, 2008, 05:40:03 pm »
Yea...but it doesn't represent that nearly 20% premium we seem to be paying now...
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Offline Snowman

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #13 on: September 10, 2008, 08:13:59 pm »
No it does not explain the difference but I have leaned a long time ago there is nothing we can about it so I stop complaining and STFU  :)

EDIT:

Here is how a democracy works: Rich people have all the money. Rich people lobby and make campaign contributions to the politicians so they see the world their way and we get to pretend we have a say by voting in these things called elections.
« Last Edit: September 10, 2008, 08:21:43 pm by Snowman »
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Offline Triple Bob

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #14 on: September 10, 2008, 08:39:10 pm »
Quote from: Snowman on September 10, 2008, 08:13:59 pm
No it does not explain the difference but I have leaned a long time ago there is nothing we can about it so I stop complaining and STFU  :)

Exactly, you either buy gas or you don't, no one is listening to compaints about the price... unfortunately.  :(
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vdk

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #15 on: September 10, 2008, 08:51:31 pm »
they were saying that some refineries have not been operating at full capacity (or at all) because of the recent hurricanes blah blah...
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Offline Snowman

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #16 on: September 10, 2008, 08:56:15 pm »
 ??? Who are “they”
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Offline rrocket

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #17 on: September 10, 2008, 08:58:17 pm »
^^Them.  Those guys.  They fly black helicopters. I wear a tinfoil hat so they can't hear my thoughts...
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vdk

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #18 on: September 10, 2008, 09:00:46 pm »
they = the media who else :P

CNN in this case....
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Offline Snowman

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Re: Gas Prices in Canada not following the steep price decrease
« Reply #19 on: September 10, 2008, 09:06:54 pm »
Quote from: vdk on September 10, 2008, 09:00:46 pm
they = the media who else :P

CNN in this case....

CNN is a front for Whitehouse propaganda.
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