U.S. refinery issues send Calgary gas prices shooting up

B00Mer

B00Mer

Keep Calm and Carry On
Sep 6, 2008
44,800
7,297
113
Rent Free in Your Head
www.getafteritmedia.com
U.S. refinery issues send Calgary gas prices shooting up



Calgary is experiencing some sticker shock.

Gas prices have shot up in the city, in some cases by as much at 12 cents per litre.

The average is now $1.056 a litre.

Dan McTeague with GasBuddy.com tells 660News, the increase is being driven by unexpected refinery problems in the U.S. midwest.

“What is driving this is a short term problem with respect to supply down there. That obviously means that prices are now, sort of, going back up to levels we haven’t seen in quite some time. $1.05 in Calgary — we haven’t seen certainly in the past nine months,” he said.

He isn’t sure where prices will go as we head into the summer driving season.

While oil prices may fall, that likely won’t happen with gasoline because it is in much shorter supply than crude.

source: U.S. refinery issues send Calgary gas prices shooting up - 660News

...........................................

This is something that really PISSES ME OFF!!

We sell our oil and gas to the USA, they refine it into gasoline and we buy it back.

We need to refine our own oil, open up more refineries in Canada.

Same sh*t with China, selling our wood, our raw materials and buying back finished products.. steals jobs from Canadians.

www.youtube.com/watch?v=AzjiW4U4V9g

Canadians need to hear Trump's words and look at China and the USA as our nemesis.

 
Tecumsehsbones

Tecumsehsbones

Hall of Fame Member
Mar 18, 2013
55,565
7,076
113
Washington DC
B00Mer said:
U.S. refinery issues send Calgary gas prices shooting up



Calgary is experiencing some sticker shock.

Gas prices have shot up in the city, in some cases by as much at 12 cents per litre.

The average is now $1.056 a litre.

Dan McTeague with GasBuddy.com tells 660News, the increase is being driven by unexpected refinery problems in the U.S. midwest.

“What is driving this is a short term problem with respect to supply down there. That obviously means that prices are now, sort of, going back up to levels we haven’t seen in quite some time. $1.05 in Calgary — we haven’t seen certainly in the past nine months,” he said.

He isn’t sure where prices will go as we head into the summer driving season.

While oil prices may fall, that likely won’t happen with gasoline because it is in much shorter supply than crude.

source: U.S. refinery issues send Calgary gas prices shooting up - 660News

...........................................

This is something that really PISSES ME OFF!!

We sell our oil and gas to the USA, they refine it into gasoline and we buy it back.

We need to refine our own oil, open up more refineries in Canada.

Same sh*t with China, selling our wood, our raw materials and buying back finished products.. steals jobs from Canadians.
Click to expand...
 
MHz

MHz

Time Out
Mar 16, 2007
41,030
43
48
Red Deer AB
In this case it will drive the price up to what it was before the drop in crude prices, . . . to punish Putin. Last time it was a refinery in the UK that spiked out gas.

"While oil prices may fall, that likely won’t happen with gasoline because it is in much shorter supply than crude."

I am going to assume you have to be an idiot to believe this crap.
 
B00Mer

B00Mer

Keep Calm and Carry On
Sep 6, 2008
44,800
7,297
113
Rent Free in Your Head
www.getafteritmedia.com
MHz said:
"While oil prices may fall, that likely won’t happen with gasoline because it is in much shorter supply than crude."

I am going to assume you have to be an idiot to believe this crap.
Click to expand...

No, but you're an "Idiot" to think that what is written on 660 News Radio's website constitutes my personal opinion..

Up your dosage on your seizure pills already.
 
gerryh

gerryh

Time Out
Nov 21, 2004
25,756
295
83
B00Mer said:
..if you don't mind watered down gasoline.. 8O 8O OH Yeah!! Snap!! :lol:
Click to expand...




Pardon? It's only Safeway and Petro can gas in my work truck and personal vehicle. Costco every once in a while. No problems what so ever. So I really don't know what you are talking about.
 
taxslave

taxslave

Hall of Fame Member
Nov 25, 2008
36,362
4,337
113
Vancouver Island
Too bad our government doesn't have the necessary male parts too stand up to the greenieweenies and make the regulatory climate such that it is to the oil company's benefit to refine our oil in Canada and only export finished products.
 
T

tay

Hall of Fame Member
May 20, 2012
11,548
0
36
Gas prices are up by more than a third since the start of the year, a figure much higher than one would expect based on the slight rebound in oil prices, Bank of Montreal's chief economist says.


Doug Porter noted Thursday that while everything connected to crude oil has looked execrable since the slowdown that started last fall, Canadian gas prices have been especially loopy because of the impact of the Canadian dollar.


A lot of the gasoline used in Canada is refined and processed in the U.S., where refineries price the base commodity in U.S. dollars.


That makes Canadian pump prices doubly sensitive because they are heavily impacted by the value of the Canadian dollar.




If you balance out the impact of currency fluctuations, "converting oil prices into Canadian-dollar suggests that the jump in gasoline has gone way beyond the move in crude," Porter wrote. "So what's up?"


It's a question many Canadians have been asking themselves, with the average price of a litre of gasoline at $1.20 across the country. Porter noted there are indeed plenty of valid reasons for gas prices to be up a bit. In addition to the small rebound in crude oil, there are seasonal factors at play.


"In each of the past two years, the annual highs for gasoline prices were hit in the fourth week of June," Porter said. We are right on track for that to happen again this year.


Flynn said that, while refineries are producing more gasoline than ever, demand for it all is at its highest level since before the economic slowdown of 2008. He noted there are currently only about 23 days' worth of gasoline in storage across North America. That's near the low end of historical averages.


"Demand is getting better because the economy is getting better," Flynn said.


On its own, however, none of that is enough to warrant the level of gas prices increases that many Canadian drivers have seen in recent weeks. So clearly something else is going on.


Porter stopped short of trying to give a reason for the uptick, but noted that it's not like Canadians aren't seeing some of the savings of cheap oil, as gasoline prices as still 10 per cent lower than they were this time last year




Gas prices 'way beyond' where oil rebound should have them: BMO - Business - CBC News
 
You must log in or register to reply here.
Top Bottom