No relief in sight as gas prices in B.C., Eastern Canada reach record levels


B00Mer
#1
No relief in sight as gas prices in B.C., Eastern Canada reach record levels



Canadians aren't likely to see relief at the pumps anytime soon after gas prices shot up to record levels in parts of the country on Saturday.

Some of Canada’s largest cities, including Toronto and Vancouver, saw prices rise more than two cents per litre. In Toronto, gas prices spiked to an average of 140.7 cents per litre.

Dan McTeague, co-founder of the website Tomorrow’s Gas Prices Today, said prices could climb even higher.

“It would look a little bit like panic city for many, especially in Eastern Canada and B.C., where prices have spiked to all-time highs,” McTeague said in an interview on News Channel Saturday.

McTeague said prices in Toronto have not been this high since May 2011, when gas was 141.1 cents per litre.
Some experts say the steep climb at the pumps comes as uncertainty over Iraq’s oil supplies grows amid civil unrest. Armed militants have taken over several cities in the country, forcing tens of thousands to flee their homes.

McTeague said these price increases have little to do with oil shortages or increased demand.

“You’re looking at excessive speculation,” McTeague said. “I think it’s overreaction to a circumstance in which there’s been no proof of any sort of disruption of supply.”

But the spike is causing problems for many Canadians, especially those who rely heavily on their vehicles. Delivery man Dave Keeney says he’s struggling with the added cost.

“If it keeps going up and up I'm probably going to have to change jobs because I just can't afford the gas,” Keeney said.

Bob McNally, president of energy market consulting firm the Rapidan Group, said gas price fluctuation from such faraway events serves as a reminder that the oil market is global.

“A disruption, or a threat of disruption, anywhere can translate into an increase in oil prices everywhere,” McNally told CTV News Channel. “Canada’s motorists, like U.S. motorists, like Norway motorists, will ride the global oil price roller coaster along with everybody else.”

McNally said the turmoil in Iraq is happening at a time when the country, a member of the Organization of the Petroleum Exporting Countries (OPEC) is supposed to be stepping up.

“Iraq over the next several years is expected to provide 60 per cent of all the oil we expect from OPEC countries,” McNally said.

Threats to the country’s oil production are purely speculative at this point, despite the very real impact they’re having on the market, McNally said.

McNally said he’s optimistic that the insurgents will be contained to the northern part of the country, away from the oil-producing areas, and that oil prices won’t see more than three to five per cent increase.

Gas prices in Canada for June 14:
Vancouver: 152.6¢/L
Calgary: 124.3¢/L
Edmonton: 118.2¢/L
Regina: 131.8¢/L
Winnipeg: 131.6¢/L
Toronto: 140.7¢/L
Ottawa: 137.9¢/L
Montreal: 148.6¢/L
Halifax: 136.6¢/L
Source: gasbuddy.com


Read more: No relief in sight as gas prices in B.C., Eastern Canada reach record levels | CTV News (external - login to view)
 
Praxius
#2



Cry me a fk'n river.


^ That's average for the last year and surprisingly the fuel this week has been around $1.41.... And that's considered cheap. Maybe they charge higher for Petrol than one does for Gasoline.


When I cam back to Canada for three weeks This past October, I didn't know what to do with all the extra money, so I blew it all on Tim Hortons while I could.
Last edited by Praxius; Jun 16th, 2014 at 07:40 AM..
 
taxslave
#3
Outright theft.
What is needed is more competition in the market. Unfortunately this would mean that governments would have to do what is right for Canadians and make it easier to build refineries, not creating ever more red tape and delays.
 
petros
+1
#4  Top Rated Post
There is plenty of competition. BTW, shut down prices haven't yet. Expect $1.60
L in two weeks.
 
B00Mer
#5
Here is a thread from LOC $5 gas.
forums.canadiancontent.net/bu...5-gas-way.html (external - login to view)
 
petros
#6
Quote: Originally Posted by B00MerView Post

Here is a thread from LOC $5 gas.
forums.canadiancontent.net/bu...5-gas-way.html (external - login to view)

It won't be because of Muzzies, just shut downs but whatever it takes to sell ads for media and ramp up the war machine which sells even higher price ads.

It's time to get rid of commercial news.
 
taxslave
#7
Quote: Originally Posted by B00MerView Post

Here is a thread from LOC $5 gas.
forums.canadiancontent.net/bu...5-gas-way.html (external - login to view)

Old news it is well over $5 now. What with taxes for everything non highway related being tacked on.
 
petros
+1
#8
That is a US price.

It still does make a bundle of broccoli from Bakersfield that much more. Everything moved by truck or rail is going to rise.

If you want to beat the markets get a bulk card and buy a ****lode in January and lock in a price when it's cheapest.
 
B00Mer
+1
#9
Quote: Originally Posted by petrosView Post

That is a US price.

So higher in Soviet Canuckistan...
 
taxslave
+1
#10
Quote: Originally Posted by B00MerView Post

So higher in Soviet Canuckistan...

Socialism ain't cheap.
 
petros
#11
Quote: Originally Posted by B00MerView Post

So higher in Soviet Canuckistan...

Always. Gotta pay for cholesterol pills some how.
 
Praxius
#12
Quote: Originally Posted by B00MerView Post

So higher in Soviet Canuckistan...

Aussies have to pay more than everybody else because they get their petrol shipped to the country by boomerang. The price is so high because supply is not meeting the demand, as 93% of the supplies keep returning back to where they came from.
 
grumpydigger
#13
It always amazes me, how the governments allows speculators and big oil To manipulate and drive the economy.

Any minor occurrence in the world is grounds for massive Price increases. were I live 14 cent jumps overnight are quite common.

And the spandex wearing bicyclist keep on babbling about how expensive fuel is in Europe and literally make comments about how they wish the prices would rise even higher to get vehicles off the road.
These are usually people who live in large urban centers who have no idea how vast this country is . And how food is grown and transported.

Soon we'll have to have a $30 an hour minimum wage because big oil has caused hyperinflation.
 
petros
#14
Quote:

These are usually people who live in large urban centers who have no idea how vast this country is . And how food is grown and transported

And who smoke energy intensive indoor grown marijuana by the gunny sack full.

Quote: Originally Posted by taxslaveView Post

Socialism ain't cheap.

But we wouldn't have it any other way.
 
B00Mer
#15
Quote: Originally Posted by PraxiusView Post

Aussies have to pay more than everybody else because they get their petrol shipped to the country by boomerang. The price is so high because supply is not meeting the demand, as 93% of the supplies keep returning back to where they came from.

You're living on a island in the middle of nowhere, and ex-British Penal colony. What do you expect??

If it wasn't for Crocodile Dundee, nobody would even know you existed down there.

Poisons snakes, spiders, wild fires, floods.. beer drinking toothless red necks, sh*t it's Alabama.. WTF!!



You don't need a gun when you have a Donk
 
petros
#16
When you have ray?
 
B00Mer
#17
Quote: Originally Posted by petrosView Post

When you have ray?

No Donk..

Don39t need a gun when you have a Donk - Crocodile Dundee 2 - YouTube

 

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