Tomorrow's gas prices, today

[Soyabean]

i dunno if this is true. But i will check tomorrow's gas price to see how accurate it is

http://www.mcteague.ca/WebPages/gas_price_today.htm

[WeatherB]

It's very true. Been using it for the last few months.

[Mafty]

:S well thats not promising. owning a v8 will never be affordable in the near future.

[x_o_k_x]

wow good find, but seriously this will make it even more depressing

[dentinger]

ive just accepted the fact that gas will keep rising.

i dont let it bother me any more. i still drive the same way i do, and i still drive just as much. there is NOTHING we can do about it.

[mEtH]

WOW, gonna keep an eye on this. Thanks!

[Aceius]

Seems like it as I just filled up at 125.9.

[garboui]

very very depressing even with a 4 banger. lol at least i get my brothers car to do all my running around in tomorrow because i have to fix it for him.

[b3GS]

and Oil companies keep turning in reports of record profits

something is wrong here.

their industry is the only one NOT suffering from this.
The government needs to do something.

[RallyPlaya]

Hey i always look @ the positive at least we dont have Montreal;s gas prices

[Gizzmo_jr]

Kingston has held the record for lowest prices in Canada a few times, and at least Ontario. We're rocking 119.X and dropping :bana

[Cardinal Fang]

and Oil companies keep turning in reports of record profits

something is wrong here.

their industry is the only one NOT suffering from this.
The government needs to do something.

Go with the flow. Make sure some of your investments, if you have any, are tied into the oil and gas industry (resource stock in RRSP's). The gains are amazing. Sure it doesn't compare to what you're having to pay out but it's something.

[x_o_k_x]

http://i25.tinypic.com/2z7onyv.jpg

[zedtech]

The government needs to do something.

:complain:flaming:bang
Gas prices heading higher, PM says
May 22, 2008

BEAMSVILLE, Ont.–Prime Minister Stephen Harper had no words of solace for Canadians facing record-high energy prices, warning yesterday that they should expect even higher prices for gasoline and other fuels in the near future.

"I believe you will see, over the next few years, the general trend of gasoline and other energy costs will continue to rise," he said.

This is because of increased worldwide demand for energy at a time when supplies of fossil fuels from traditional sources are being rapidly depleted, the Prime Minister told reporters during a stop in Beamsville to announce new food labelling regulations.

Oil prices have more than doubled from where they were a year ago, closing at yet another record high of $133.17 yesterday in New York.

Harper said he's worried about the negative economic impact of rapidly climbing energy costs but there's little his government can do about gas prices, which are set on the world market.

He said the federal Conservatives have instead sought to give Canadian consumers a break by lowering the GST.

Despite the challenge of global warming, the Prime Minister said it would be a mistake to impose fresh government levies on energy through a carbon tax, as proposed by Liberal Leader Stéphane Dion.

"Now is not the time ...to start raising carbon taxes all over the Canadian economy," he said.

–Les Whittington

http://www.thestar.com/printArticle/428529

[Soyabean]

its correct. Today's gas was 127.3L

Its CORRECT!!!!!!!! lol

[bunchi]

yup! it was right on!

[ghostdog]

The federal government will not do anything because they need to make up the money they lost when they reduced the GST to 5%...

what irks me is that the gov't of old after the oil crisis in the 70's created Petro-Can to make sure Canada has a say in the oil prices for Canada, but in their wisdom (doh!) the gov't of later years decided to sell Petro-Can for profit...

much like how the gov't approved sales of Clearnet to Telus and Fido to Rogers and now the gov't says there isn't enough competition in Canada so they are opening up the cell band for more companies... lol!

[Thunder 3]

ive just accepted the fact that gas will keep rising.

i dont let it bother me any more. i still drive the same way i do, and i still drive just as much. there is NOTHING we can do about it.

Agreed. Sometimes I wish I bought the 2.0 litre engine instead....but then i figure it may be one of the last times I can afford to fuel a sportier car, haha. Not that its too expensive to fill the GT up...

I'm glad I downgraded from my Maxima!

[WeatherB]

Crap, the website wasn't updated when I left work so I ended up filling up today. Could have saved nearly 2 cents per litre by filling up tomorrow. :(

[RX9]

this should be sticky on the top. NICE FOUND.

no worry weatherB, i filled up last night @ 138.00, @$#%^%@@#$

[Mafty]

this should be sticky on the top. NICE FOUND.

no worry weatherB, i filled up last night @ 138.00, @$#%^%@@#$

Where on earth is it 138????????

atleast tommorow the gas is supposed to go down. i need gas either tommorow or sunday, so ill see which day is lower hehe.

[Cardinal Fang]

Terry, the Speed3's require Premium Unleaded fuel.

[oni]

oh my, 125.3 today.

[EvilEric]

That TTC pass is starting look a lot better and this kind of makes me re-think the whole "drive down to florida" to save money idea.

[Garu]

Terry, the Speed3's require Premium Unleaded fuel.

$70 to fill up a tank. It's quite insane.

[oni]

that's the price to pay to enjoy the extra zoom, in zoom zoom zoom.

[Slade]

Since I am leaving for South Carolina Sunday I did some calculating on filling up before leaving vs filling up across the border.

To fill the 55L tank it would be $69 to fill up at $1.27/Lt. To fill up at $3.83/Gallon which the the US is expecting for their long weekend, it will cost me $46US, so roughly $23 difference! I definately will not be filling up in Ontario to say the least.

To make it even better I changed $1080 Canadian to$1068 US last night :bana2:bana

[LockOut]

To make it even better I changed $1080 Canadian to$1068 US last night :bana2:bana
That seems like a random amount to get changed! haha

[bluntman]

Is this MP doing us a service or a dis-service? Think about it, Dan McTeague says that gas prices are going up tomorrow to a certain level, and by golly they do! It is like he is giving the gas companies the green light to raise them to the price that he posts on that site.

Conspiracy theorists discuss...

[bigwood29]

It's hard to believe that people bitched about paying $0.65-70/L not that long ago! And what ever happened to lowering prices in the evening? Last year, Wednesday nights in Scarborough, the prices dropped and stations were packed. Don't see that now.

[x_o_k_x]

Is this MP doing us a service or a dis-service? Think about it, Dan McTeague says that gas prices are going up tomorrow to a certain level, and by golly they do! It is like he is giving the gas companies the green light to raise them to the price that he posts on that site.

Conspiracy theorists discuss...

Depends on how you look at it, He may also give you this opportunity as taking an advantage on saving money, by knowing eather to fill up today or tommorow.

[FONZ]

128.7..... Dear God.

[tweak_s]

Seriously. Going to have to cut back on the far meets...

[sicsol]

once it hits 149.9 i'm car pooling with the wife.

[zedtech]

I was bitching about 1.287/L gas on Facebook until my buddy from MTL mentioned it's 1.4x/L avg there, and been that high for a while now. My complaining stopped immediately and turned into cold sweats lol.

[Soyabean]

bump

[cutekate85]

just fill when you have to no?

you waste more time chasing and going multiple times

if its that bad why drive period?

[iconicrocket]

LMAO, this is a new one.


http://i25.tinypic.com/2z7onyv.jpg

[iconicrocket]

When gas is expensive, I only fill up half a tank. When gas is cheap, or at least I think it's cheap I fill up the whole tank. In the long run I hope to save some money there.

[Soyabean]

bump

gas is 124.1 tomorrow. better pump up today guys

[silvermist99]

half a tank costed $34 today.. i feel a little better

[Soyabean]

OMFG, so i went to the pumps with my car and my girl's 3. I pumped mine first and pressed regular. then i went to hers and MOST of the gas stations have the Regular button on the left, then the mid grade, and then premium on the right. WELL THIS ONE HAD PREMIUM ON THE LEFT..... so i pressed the left button and pumped away until it was full. Then i went in to pay and looked at the receipt and saw 1 charged as regular and 1 charged as premium. Im like..... ugh.....

lol, thats all. just wanted to rant hahaha. Btw, i just ended up paying like ~$4.50 more. not really anything but meh

[cosic]

Check out tomorrows prices. I know it's only like 6 bucks. But worth knowing for anyone who is in a tight spot.

[Thrizzl3]

i hear that gas prices are rising 13 cents over nite..so i suggest who ever is close to empty fill up tonight.i kno i am right now lol

[Soyabean]

exactly. 12.9 cents more. So PUMPPPPPPPP

[Thrizzl3]

my original plan before i went to the pumps was to see how many kms i could get out of a full tank..i was at half tank drove 310kms before my mom ordered me to fill up my car..:blush i woulda hit 600kms for the tank..

[x_o_k_x]

How true is this?

[cwp_sedan]

It is almost right on every time I've checked it. I'm going out for gas right now lol.

[tweak_s]

Have fun CWP... lol, lineups galore.

[Slipstream]

yah this is BS lol the lineup is unbelievable...hmm how much do those extra gas containers cost

[cwp_sedan]

Have fun CWP... lol, lineups galore.

Man it was crazy everywhere. I only had to wait for 1 car so it was all good. :chuckle

[x_o_k_x]

I just got back, gas stations are empty lol so I just filled up and left quetly haha

[Thrizzl3]

holy mackerel..lucky i filled up earlier..gas stations in my area look like a zoo..20-30 waiting for gas..ridiculous:loco

[Go_Habs_Go]

Then i went in to pay and looked at the receipt and saw 1 charged as regular and 1 charged as premium. Im like..... ugh.....

lol, thats all. just wanted to rant hahaha. Btw, i just ended up paying like ~$4.50 more. not really anything but meh

I wonder if the extra you pay for premium is worth it in terms of better fuel consumption? I defintely don't know this for a fact but I've heard people say it...wonder if there is any truth to it...

[Go_Habs_Go]

i hear that gas prices are rising 13 cents over nite..so i suggest who ever is close to empty fill up tonight.i kno i am right now lol

yeah man I'm in Montreal and it's going up 10 cents (from 126.9 to 136.9) so looks like we're all getting it pretty bad from big oil

[Thrizzl3]

maybe i should switch my car to an electric motor:chuckle

[Go_Habs_Go]

maybe i should switch my car to an electric motor:chuckle

I was thinking solar panels on the roof and having them power a battery for an electric motor LOL

but I have a feeling the size of the panels required would weigh more than the car!! not to mention the cost...

[Thrizzl3]

i'd have to win the 6/49 to do that:)

[dentinger]

aw for ****'s sake!
up 13 cents tonite! wtf!
thankfully i just filled up, but WTF! im going to have to ask for raise soon, cuz i cant afford this horseshit anymore!!

[openuser]

Farking 136? ohhhhhh the pain..
Time to stay out of boost...

[b3GS]

****in bullshit man

why do we keep falling for this shit

everyone runs to the pumps in a panic, and they rake in the dough because the price is already so high.

I refuse to line up for overpriced gas.

we're getting screwed, and acting like a bunch of lemmings each time they tell us the price is going up.

[openuser]

i'd have to win the 6/49 to do that:)

soon I will have to win 6/49 just to buy gas :flaming

[Thrizzl3]

i only filled up because i will doing a lot of driving this weekend..

[Thrizzl3]

soon I will have to win 6/49 just to buy gas :flaming

just imagine if gas prices where that high..we would have to sell our cars to afford gas:loco

[dentinger]

http://i173.photobucket.com/albums/w65/dentinger/wtf.jpg

[Thrizzl3]

its something stupid i said i kno..no need to be mean lol:)

[dentinger]

no, no, that pic was for these ****ing gas prices...
WTF IS THIS SHIT!

[Thrizzl3]

no, no, that pic was for these ****ing gas prices...
WTF IS THIS SHIT!

its canada taking the extra money spent on gas and using it for its own leisure:flaming

[Fobio]

playing devil's advocate:

everyone in Galveston, TX is evacuating and IIRC, that's where the pipelines from the gulf rigs come in from the sea...

not saying it's right or not, but I got lucky and found a lane with no one waiting last night at a zoo of a gas stn...Petro-Can @ Eglinton/Pharmacy...yeah, you guys know it's a zoo there...lol...

[dentinger]

i beleive that is what's causing the gas prices too...

fawking hurricanes.

[Thrizzl3]

does anyone use those gas cards which save you $.20/litre when you or your family members get a new car?? my mom gave me her's and i filled up at the pump..total came up to 34 somthing but i ended up paying 28:bana2

[kleigh]

i shoulda listened to you guys last night.....:blush

[b3GS]

playing devil's advocate:

everyone in Galveston, TX is evacuating and IIRC, that's where the pipelines from the gulf rigs come in from the sea...

not saying it's right or not, but I got lucky and found a lane with no one waiting last night at a zoo of a gas stn...Petro-Can @ Eglinton/Pharmacy...yeah, you guys know it's a zoo there...lol...


it's not right.. they just love to use any excuse possible

fact is.. the gas in the tanks didn't go up in price even BEFORE the hurricanes hit :loco

the oil companies must love hurricane season. And of course when it's not that, it's the unrest in the middle east. :whoa
funny how there has been unrest in the middle east since the beginning of time.

face it.. we're all getting F'd in the A.. and really there is nothing we can do about it

[Fobio]

well, if you find that hard to digest, here's some more of my personal views:

The Democrats had a lock on the election and BAM, Palin, the Gov of Alaska (is that the biggest or second biggest oil state in US?) gets called up...hmmm...and all of a sudden the Republicans are in a dead heat again...

...then Harper calls a snap election while he's been touring the CDN Great White North for possible exploration or "mapping"...hmmm...all of a sudden, they jack up gas prices and Dion's carbon tax doesn't seem like such a good idea...

The "way it is" is that much of North American politics is driven by large resource grabbing concerns...big oil is only where it starts...

hope everyone will have a nice wknd! just read a quote today and how if you read 3 newspapers in the morning, you'll be too depressed to leave the house...lol...

[MattC]

ill just spend the extra 10$ and not rush to the pump with every other slack jawed yokel in toronto.

[Thrizzl3]

my best bet for this situation is to have a fuel pump in your garage so i dont have to wait for xmas just to get gas

[Go_Habs_Go]

Maybe the solution to our gas dependency is the Chevrolet Volt that will be coming out soon? :chuckle

But if we all get electric cars then Electricity will be traded on the open market just like price of a barrel of oil is now.

Can you imagine that? Hey what's for dinner tonite honey? NOTHING cause the price of electricity doubled today and I'm scared to open the fridge or turn on the stove!!! LOL

Ahhhh yes, we laugh...but this is seriously BAD NEWS!!!! Where will it all end??!?

WHERE?????!!!

ok back to your regularly scheduled programming...

[kleigh]

I've started cashing out my credit card points for gas cards :chuckle
Seems to make it a little less painful at the pump.

[Go_Habs_Go]

I've started cashing out my credit card points for gas cards :chuckle
Seems to make it a little less painful at the pump.


not a bad idea! I got a ton of Air Miles I've never used...maybe I'll trade them in for gas cards at Shell.

[Fobio]

it is always a good idea to use a gas card...I haven't paid for a car wash for the past 5 yrs thru petro points...but they don't have touch-free carwash...

I might cash in some air miles too! thanks for the heads up...never had to enough to fly to Markham anyway...lol...

[Zoom Zoom Boy]

it's not right.. they just love to use any excuse possible

fact is.. the gas in the tanks didn't go up in price even BEFORE the hurricanes hit :loco

the oil companies must love hurricane season. And of course when it's not that, it's the unrest in the middle east. :whoa
funny how there has been unrest in the middle east since the beginning of time.

face it.. we're all getting F'd in the A.. and really there is nothing we can do about it

Yes they do and yes, we certainly are getting F'd in the @ss and without the kind use of petroleum based lubricant too. :chuckle

Oil prices are at the lowest they have been in 5 months and even the market isn't jacking up the prices of oil based on Ike, yet. Gas companies are essentially just bending us over folks...:whoa

http://money.cnn.com/2008/09/12/markets/oil/index.htm?cnn=yes

[Ex-Rolla]

I don't understand how these prices work... maybe someone can chime in and enlighten me...

I read yesterday that the price per barrel came down to about a 100 dollars. Then i hear that the gas prices are going to go up... WTF is going on? Price per barrel goes down, then shouldn't the price of gas go down equally?

Another question...

Gas station "A" purchases gas at let's say for arguments sake at 10,000 dollars and now their tanks underground are full. The next day, price of crude goes up and gas station "A" increases it's price accordingly. Now how can the gas station increase the price if they purchased the fuel at a set cost one day prior???

Sorry if i'm not making sense... it's a little difficult to explain... Consider this a little rant and yes i'm a little pissed.

It seems to me that the oild and gas companies are price fixing which is clearly against the law.

anyone that can help explain how/why the prices vary on a day to day basis, given they purchased the fuel at an earlier date, would be much appreciated.

[Soyabean]

I think it is because of that hurricane thing happening near texas

[MSMitch]

Another question...

Gas station "A" purchases gas at let's say for arguments sake at 10,000 dollars and now their tanks underground are full. The next day, price of crude goes up and gas station "A" increases it's price accordingly. Now how can the gas station increase the price if they purchased the fuel at a set cost one day prior???

Sorry if i'm not making sense... it's a little difficult to explain... Consider this a little rant and yes i'm a little pissed.

It seems to me that the oild and gas companies are price fixing which is clearly against the law.

anyone that can help explain how/why the prices vary on a day to day basis, given they purchased the fuel at an earlier date, would be much appreciated.

Sucks, and I don't fully understand it, but the gas companies even though buying it cheaper on one day, will have to REPLACE the gas which is NOW higher - so it's possible they are charging current market "value" for the gas so they can afford to refill their storage tanks...
In Sakatoon gas prices fluctuated maybe once a month (they were always more expensive), but at least no games at the tanks - price drops, it stays low, price goes up, you're hosed, it stays up.

[Go_Habs_Go]

anyone that can help explain how/why the prices vary on a day to day basis, given they purchased the fuel at an earlier date, would be much appreciated.

Here's my take on this.

It doesn't matter one bit what the gas station paid for the gas that they currently have in their tanks. Oil is a PUBLICLY TRADED COMMODITY! What this means is that when the price of a barrel of oil fluctuates on the market (because of people purchasing or selling the commodity, i.e. speculating), companies adjust their prices accordingly. Whenever ANY sort of market fluctuation occurs, they adjust (read: raise) their prices accordingly. They are not calculating what the 50,000 litres of fuel they currently have in stock cost them, they are selling the gas at whatever the market forces are estimating the price to be for that day.

Those market forces are generally the price of a barrel of oil as traded on the the open market. But even now with the price of a barrel down to about 100$, the price of gas is still as high as it was when the price of a barrel was 150$. Why? Well now there are other market factors to take into consideration. For example, the hurricanes currently hitting the refineries in the south of the US. Or maybe there are concerns about unrest in the middle east. Or maybe there is a new study about the exponential rate of China's growth in the next 20 years. This puts pressure on the market (fear that there will be a drop or disruption in the supply or fear of a major demand in increase) and the prices rise accordingly.

In the end there is always a market factor (READ: EXCUSE) for the companies to adjust prices. When prices at the pump do actually drop the companies are simply conditioning you for the next raise in prices. It's simply a way to make you think you are getting a deal.

Think of it this way. If 2 years ago someone told you you were going to pay 1.10$ per litre of gas today, what would you have said? You would have said that they were nuts right? But today, you would jump at that price because it's a deal compared to what's actually out there. This is market conditioning (i.e. BRAINWASHING!!). Raise the prices dramatically, then drop them slightly, then raise them dramatically, then drop them slightly, eventually the price 'settles' somewhere but it's much higher than it was a few years ago. Except that people are actually happy over this perceived 'fair' price.

In the end, we live in a free market. So the price of anything is inevitably determined by what people are willing to pay for it. Believe it or not, the price of gas is still low at 1.50$ a litre or whatever it's at now. Why would I say that? Because people are still buying it!!!! Have you noticed any less cars now that gas is consistenly over 1.20$ a litre? NO!!

People are still driving and people are still buying gas and until we stop going to the pump the price will NEVER come down. NEVER!!!!

So if people really want to see the price of gas come down, it's simple: stop driving. Otherwise this is the reality we face.

Wait till water becomes a commodity that is traded on the open market...you will wish for the 'simple' days we are living in now...

[whiteomega]

Yes, oil is a publically traded commodity, and yes refiners should really be selling gasoline at prices similar to what they paid for it originally.

Of course, they won't because now with a barrel of oil costing less, they'll keep charging Canadians higher prices for gasoline. We're being fleeced, and we know it.

Unfortunately we're also not willing to do anything about it. I've stopped driving as much as I used to, but I still drive to work because for me, the cost of a commute to work is still less than the cost of a bus ticket to work.

The reality is that we can't all just stop driving; If you live downtown or somewhere like that, it's easy; but uptown things are spread out enough that the existing transit system just isn't effective. So really, the solution right now is drive only when you need to, and drive in a way that doesn't chug gasoline.

[alhope34]

I haven't needed gas in a week and a half so I never noticed the prices lately. Holy carp!! I paid $1.52.8 a litre! $70 to fill my bloody tank from one line under 1/4!


Jeebus, seems like if an elk farts in the forest gas will go up 10 cents. I don't care about the constant steady prices, but the jumps cause of weather and other ridiculous excuses to raise prices really makes my face red.

[openuser]

I thought they put a price ceiling on gas price last year or something..
Or it could be the limit on how much profit they could make off the gasoline...

But this is just ridiculous! So expensive...

[JMAK74]

Don't get me wrong - I don't like paying these current gas prices, however...

To me, in ways, saying that because the gas in the station's tank was bought at price X and a day later it's now price X+b is wrong/shouldn't be allowed also means that a house should only be sold for it's purchase price - even if 20 years passes.

In a round about way, unless substantial inputs have been put in, a product should never have it's price adjusted right? Which of course every person in the world can argue that any input was never substantial enough to warrant increasing the price.

Also - what about when the gas station fills up its tank at price X and then the next day, the price is now X-b. Let me guess - to bad for the station/company? Maybe we should pay back the difference depending on the last time we filled up?

It does, as i think all of us know and some have said, comes down to money. Fact remains that most people in the world want to pay the least (price of gas, cost of home, cost of this, cost of that) but to get the most (highest possible salary, highest rate of return of investments, best performance from a car, highest increase in value of home, biggest house, etc). In the end - humans are amazingly good at suck and blow at the same time.

Just some thoughts.

JMAK

[yearoftherat]

Since moving to here from Winnipeg, I am disgusted how the price of gas goes up and down like a fricken yo-yo from one day to the next. It was never like this in Winnipeg.

[STeeLy]

Since moving to here from Winnipeg, I am disgusted how the price of gas goes up and down like a fricken yo-yo from one day to the next. It was never like this in Winnipeg.
Actually it can fluctuate several times throughout the day.

[Nick]

I hope it drops on Tuesday =]

[Zoom Zoom Boy]

There is simply no logical or monetary reason currently (aside from pure greed and profit taking), market or otherwise, for the current price spike on gasoline. Oil is at its lowest point in almost 6 months.

Gas prices should go down significantly after this weekend. If they don't, then well, stay bent over...

Oil slides below $100 - Markets relieved
In a special early-Sunday electronic trading session, crude futures fall after early reports suggest that Ike may not have caused significant damage to refineries.

NEW YORK (CNNMoney.com) -- Oil prices fell below $100 a barrel Sunday in a special early trading session as traders bet that Hurricane Ike did not cause significant damage to refineries.

"The market is expressing some relief," said Andrew Lebow, a broker at MF Global in New York. "We were worried on Friday that the storm surge would flood the refineries, but right now it looks like that was not the case."

"The storm surge was not 20 feet, it was more like 12 or 13 feet," said Lebow. While preliminary reports showed that damage was not as bad as originally feared, the market was still waiting for more information from the region, he added.

Prices were trading down $1.96 to $99.22 a barrel in electronic trading, which normally starts at 6 p.m. ET.

On Friday, oil settled at $101.18 a barrel on the New York Mercantile Exchange after dipping below $100 a barrel for the first time in five months. Oil prices were volatile on Friday - rising as high as $102.89 - as traders sized up the storm.

Oil prices have fallen nearly $48 off the record high price of $147.27 a barrel, set July 11. As the U.S. and global economies have slowed, demand for energy has fallen off.

Damage to refineries: Ike has weakened to a tropical depression, according to the National Hurricane Center, and was blowing over northern Arkansas Sunday morning. The center predicts "water levels will gradually subside along the upper Texas and Southwestern Louisiana Coast today."

Refineries are particularly vulnerable to flooding. After Hurricane Katrina, refineries were shut down for between 6 to 9 months due to flooding. Refineries process crude oil into usable products, like gasoline and home heating oil.

The Gulf Coast region houses 42% of total U.S. refining capacity. Texas, where Ike first hit as a Category 2 hurricane, is home to 26 refineries, or more than 25% of the nation's total refining capacity. The 26 refineries can process nearly 4.8 million barrels of crude per day, according to the Department of Energy. Most of Texas' refineries are on the Gulf Coast ports of Houston, Port Arthur and Corpus Christi.

The eye of the hurricane passed directly over the Exxon Mobil (XOM, Fortune 500) refinery in Baytown, Texas, which is the largest refinery in North America and has a daily capacity of 567,000 barrels. The Baytown refinery and 13 others in the Texas Gulf region remained shut down on Saturday.

As of Saturday at noon ET, 97.5% of crude oil production and 94.5% of natural gas production in the Gulf of Mexico was shuttered, according to the Department of Energy.

Hurricane Ike resulted in a decrease of 3.8 million barrels per day of refinery capacity, according to the Department of Energy. If refineries remain shuttered and process less crude than usual, then there is automatically less demand for crude, said Lebow. Even if the damage to refineries is not as bad as expected, the refineries still have been turned off and are not running crude. Less demand in the short-term worked to hold oil prices lower.

Meanwhile, gas prices have jumped since Ike hit. The average price of regular unleaded gasoline increased 6.2 cents to $3.795 and followed a 5.8 cent rise on Saturday, according to a survey released by the motorist group AAA.

Damage reports: It was still too early to know exactly how much damage was done to oil drilling rigs in the Gulf, but the Minerals Management Service reported on Saturday that two drilling rigs were adrift in the Gulf of Mexico, loosened from their mooring by the storm.

MMS, the government agency that tracks offshore operations, was monitoring the movement of the detached rigs in collaboration with the U.S. Coast Guard and the oil industry. Lars Herbst, the regional director of MMS for the Gulf of Mexico Region, said in a statement that the rigs had "been relatively stationary for several hours."

As the weather in the Gulf clears, the MMS staff, the U.S. Coast Guard and the oil and gas industry will begin flying over production infrastructure to assess damage, according to the statement. The fly-overs will allow preliminary damage reports.

MMS estimated that 611 of the 717 manned production platforms - about 85.2 % - remained evacuated in the wake of Hurricane Gustav earlier this month and in after Hurricane Ike.

Sluggish demand: Crude prices have come off their highs in the past two months as a sluggish global economy cut sharply into demand for pricey energy.

The dour backdrop of sinking demand for oil has put consistent and strong pressure on oil prices.

In addition, the dollar has been climbing against other currencies, weighing on the price of oil. Crude oil is traded in U.S. currency around the globe, and so a stronger dollar means that oil prices go down.

First Published: September 14, 2008: 10:18 AM EDT

Ike's aftermath: The return of $4 gas

Gas prices rise as Ike hits Texas

Nearly 25% of U.S. fuel production shut

[JMAK74]

^^^ about the above - and yes, I am playing a bit of devil's advocate here:

- "oil prices are at the lowest in 6 months" - true - but those refineries in all likelihood had signed contracts covering probably three months (quarterly) time window and or have crude oil in their tanks to be processed that was purchase when oil was more expensive - their pricing would have gotten looked in - hence, their pricing moving it out to the consumer will reflect that higher cost (this is one reason why you have to watch out for natural gas companies coming to your door asking you to sign a contract).
- It seems to me that the genreal public seems to forget that the price of a barrel of crude oil does tie in to the cost per litre of gas, however you don't fill your car with crude oil. The crude oil has to be refined (as we all know) and that adds a cost. In the case here with the Gulf Coast shutting down refineries in anticpation of what may happen - do the math - let's assume they bought the crude oil when it was more expensive then today and now they shut off refining capacity (which by the way in the U.S./CDN is very low - last i heard, a new refinery has not been built in N.A. in around 25 years) - that in theory means the qty in inventory of refined fuels is now 'short' on supply, however at the least demand will remain the same - classic supply/demand scenario - price goes up.

Perspective on refining from my understanding - the days of 'Texas Tea' crude oil is bascially over - Texas Tea (I believe there is another term for it) is the base measure for the ease in 'cracking' crude oil - it being the easiest. Oil from the Middle East is close to it, but not like the old days - most oil in N.A. is far from it now - Oil from the tar sands in CDN is still not 'easy' to crack either, but due to the current cost per barrel - it makes the tar sands profitable - let oil slide back to $50.00 or less a barrel - and you watch how fast the CDN Economy out west will shrink.

[Zoom Zoom Boy]

Devil's Advocate indeed...:chuckle

However, of all the economic factors you listed, none really have any bearing as to why the gas companies are justified in jacking up the price of gasoline 15 cents overnight when their actual costs to buy oil have been steadily decreasing for the last 6 months.

Refining costs are largely a fixed cost depending on the type of crude to be refined, as you pointed out and have little to do with fluctuating oil prices. If refineries were to be shut down for weeks/months and refined crude supplies needed to be tapped to alleviate the demand, then yes, I would expect to see this cost passed along eventually to the consumer like it did when Hurricane Katrina hit. Also keep in mind that both crude oil and refined crude surpluses are also at higher than expected levels currently due to a slow down in market economies and actual consumption being lower than expected. Lastly, Canada imports minimal oil from the U.S. and is primarily an exporter of crude which is a shame as we have enough to be largely self-sufficient, but the companies will go where the maximum profit is.

My beef is primarily how the oil companies use the media to try and provide justification and fearmongering as to the why and how gas prices suddenly get jacked up overnight. The price jack was not market based, was not supply and demand related and was not related to anything other than price fixing and profit taking. It is that simple. :complain

[whiteomega]

My view of all this is that essentially, oil companies have been dropping gas prices in and gas purchases in order to sell their oil inventories (to avoid devaluing them when the price of oil drops). When hurricanes like Gustav and Ike hit, they now have an excuse to raise prices: "we're low on inventory and we're not sure if we'll get anymore", and as I've said before, we get fleeced. So yes, inventories are lower but that's because they sold a lot of what they had to avoid taking a loss. I have my own rant about this, but it's off-topic and for another time.

If the oil companies feel these prices are justified, I challenge them to show me their numbers. The raw books: Cost of drilling a barrel of oil, cost of refining a barrel of oil into gasoline, and then cost of shipping that gasoline to the stations. If these prices are justified, they shouldn't mind showing us those numbers at all :)

[mrfrostyman]

What i dont get is how our gas Raises that high and yet i am pretty sure we dont get our gas from the refineries down there. I would like to be corrected on this however... Also do we ship gas down to the states from the refineries here?

[alhope34]

A shortage of gas anywhere in the world would make a shortage for everyone. The country with the shortage will now have to get their gasoline from other places, other countries' reserves making total supply lower while making demand higher. Location of where we get our gas doesn't matter too much.

[Go_Habs_Go]

I haven't needed gas in a week and a half so I never noticed the prices lately. Holy carp!! I paid $1.52.8 a litre! $70 to fill my bloody tank from one line under 1/4!

For whatever it's worth gas is around 149.5 a litre in Montreal today...

[alhope34]

For whatever it's worth gas is around 149.5 a litre in Montreal today...

That's not worth anything! I'll be in MTL Thursday night till Sunday afternoon this week end!

[Go_Habs_Go]

That's not worth anything! I'll be in MTL Thursday night till Sunday afternoon this week end!

I did see a few places that were at 147.5/litre (big savings lol!) :)

[alhope34]

But remember I run on premium, so I'm 12 cents more than sewer gas.

[Go_Habs_Go]

But remember I run on premium, so I'm 12 cents more than sewer gas.

the Speed runs on Premium only? ouch that can get expensive! but I usually put Premium in my GT as well (when it's not too insanely expensive that is).

A couple of gas stations in Montreal have a special on Thursday's where the price of Premium (91 octane) is the same price as the mid range gas (89 octane, forget what they call that one LOL). So it only ends up being 4 or 5 cents more than the Regular (87 octane).

Esso and Ultramar gas stations have this 'special' every Thursday. Not sure if the same applies in Ontario?

[alhope34]

the Speed runs on Premium only? ouch that can get expensive! but I usually put Premium in my GT as well (when it's not too insanely expensive that is).

A couple of gas stations in Montreal have a special on Thursday's where the price of Premium (91 octane) is the same price as the mid range gas (89 octane, forget what they call that one LOL). So it only ends up being 4 or 5 cents more than the Regular (87 octane).

Esso and Ultramar gas stations have this 'special' every Thursday. Not sure if the same applies in Ontario?

Pretty much every forced induction car requires 91 as a minimum. I fill with 94 normally, only downgrade to 91 when I travel.

[Thrizzl3]

the Speed runs on Premium only? ouch that can get expensive! but I usually put Premium in my GT as well (when it's not too insanely expensive that is).

A couple of gas stations in Montreal have a special on Thursday's where the price of Premium (91 octane) is the same price as the mid range gas (89 octane, forget what they call that one LOL). So it only ends up being 4 or 5 cents more than the Regular (87 octane).

Esso and Ultramar gas stations have this 'special' every Thursday. Not sure if the same applies in Ontario?

ill stay regular..cant afford supreme

[Go_Habs_Go]

ill stay regular..cant afford supreme

I've also heard people say that if a car takes regular gas it's better to stay with regular since it burns at a different rate than premium (due to lower octane of regular gas). By switching to premium this might throw the engine timing off a bit and adversely affect performance.

Of course, this is just what I've 'heard' so I have no idea if it's true or not.

Personally, I've always thought premium gas was better for your car than regular (gave you better gas mileage and cleaned your injectors, etc) even if your engine took regular gas.

But what do I know. :)

[Go_Habs_Go]

There's a wealth of info about Premium vs Regular if you google it.

Here's one interesting article:

http://www.usatoday.com/money/autos/2003-07-30-premiumgas_x.htm

I think I will just buy regular from now on!!

[Noisy Crow]

The reason for needing higher octane gas is prevent the detonation that occurs due to the high compression-cycle pressures encountered with high-compression ratio and force-induction engines. If your engine is designed to use regular gas, then there is no performance benefit to using high-octane gas. It's like having a 20-foot ladder to get on a 10-foot roof: you'll never be able take advantage of it.

Now, some of the higer-octane gasolines do have extra injector cleaners etc., that will benefit your engine. But it's probably a whole lot cheaper to dump a bottle STP in your gas tank every few months.

[tweak_s]

That's not worth anything! I'll be in MTL Thursday night till Sunday afternoon this week end!

I'll be in montreal too :chuckle not in my car though..

[Flagrum_3]

Price of Light Texas crude is below $100.00 a barrel today, yet we're still at $1.36 a litre :flaming...


Rape!!




_3

[Zoom Zoom Boy]

Price of Light Texas crude is below $100.00 a barrel today, yet we're still at $1.36 a litre :flaming...


Rape!!




_3

Yup. Although, it is supposed to go down tonight at midnight. try and avoid buying gas until then if you can...

[Thrizzl3]

when are these prices gonna go down??

[alhope34]

when are these prices gonna go down??

Riiiiiight around the time the Earth explodes.

[Thrizzl3]

anyone wanna play 6/49 or super 7 this week..to see if we get lucky?? and if we do..then gas prices wont be a problem:)

[Go_Habs_Go]

anyone wanna play 6/49 or super 7 this week..to see if we get lucky?? and if we do..then gas prices wont be a problem:)

a couple of million ought to cover our gas costs...for the next few years at least LOL

[Go_Habs_Go]

I'll be in montreal too :chuckle not in my car though..

Sweet! what will you be up to in our fair city? bar hopping? ;-)

[RallyPlaya]

Going Down 9 Cents For Tomorrow Sweet =) im glad i waited

[sp3GT]

Going Down 9 Cents For Tomorrow Sweet =) im glad i waited

I saw that too, but should I wait longer? Will it go down more. I just read on yahoo oil closed below $100 for the first time in 6 months does that mean it'll fall more?

[Go_Habs_Go]

If you think it might fall more, don't fill up your tank completely...just fill it up halfway and wait and see what happens with the price.

Besides, I wouldn't stress about it so much. Even a 10 cent drop or rise in the price, as much as it sucks, only means a couple of dollars of difference in the end. On the 55L tank that we have in our cars, 10 cents means a difference of $5.50 (and that's if you are completely empty and fill up the entire tank!). Sure it adds up over the course of a year but the way I see it, if you just buy gas when you need it, the highs and lows will even out and you probably won't end up spending that much more than the guy who is constantly stressing about the prices.

Just let it go and enjoy the car! (I know, easier said than done) :) :)

[Go_Habs_Go]

Going Down 9 Cents For Tomorrow Sweet =) im glad i waited

it's nice, but like I said, even if you put say 40 litres in your tank tomorrow, the 9 cent drop will mean a savings of 3.60$. People spend that much money everyday on a coffee at Starbucks! :)

Anyway, I'm just playing devil's advocate cuz I do the same thing too, I'm so happy when I wait and the gas does down, even if it's just a few cents lol.

Damn, why are cars so much fun to drive!!!!! :)

[prospectjtaz]

Tank just began to dry up, glad I was able to wait out the weekend.

[Thrizzl3]

i got half tank left..hope it lasts me til next thursday

[Flagrum_3]

At closing today the price of Texas crude was at $96.00 a barrel.Now if anyone has been following this closely; (meaning the correlation between the cost of a barrel and the price at the pumps).Every movement of a barrel by $1dollar corresponded with a change of 1 cent a litre or pretty close at the pumps for atleast the last two years...and until just recently. But when the barrel started to drop significantly from its all time high.The price at the pumps have all of a sudden not followed the changes! That being said, with the barrel now at $96 and given that our dollar has also dropped recently, we should by all accounts be paying around a $1 a litre, maybe slightly less....so WTF!!

Speculation, storms, shortages or whatever cannot change the fact that the barrel has been dropping, yet the price at the pumps have not.We are all being raped even worse then alot of people realize, yet our trusted government 'WatchDogs' sit on their hands....

Considering how badly the high price of fuel is effecting so many industries; manufacturing, trucking, airlines to name a few and not to forget some of the economies of the world, it's dumbfounding that governments don't do more to control the oil monopolies......except to assume they are all in the same.

end of rant.



_3

[zedtech]

McTeague mentioned that prices should have dropped by 20c not just 9c. Only reason for the prices not dropping back 20c was simple greed.

[Cardinal Fang]

Speculation, storms, shortages or whatever cannot change the fact that the barrel has been dropping, yet the price at the pumps have not.We are all being raped even worse then alot of people realize, yet our trusted government 'WatchDogs' sit on their hands....



Yup can't falt this logic. Went up by 12 cents a litre last week but only comes down 9 cents even after the price of oil drops below $100 a barrel. The Tories want to cut the gas tax as an election promise to help us out.

Anyone out there want to bet that whatever percentage of gas tax is taken off that gas refining costs will suddenly go up by the same amount?

Fark the oil companies and the jack-ass' they road in on. :flaming

[Thrizzl3]

all these taxes are having an effect on the people..i kno British Columbia's gas prices have permanently risin 2 cents for the carbon tax that has been passed..unfortunately it is in discussion for ontario to have this tax too..this is ridiculous..i think ontario is the most taxed province in canada:blush

[Nick]

filled up this morning with a 5cent discount from ct =] makes it feel like a deal but i know i'm getting robbed =[

[prospectjtaz]

It's just weird how accurate that site is, really supports the "closed behind door" conspiracy.

[jaimie08mazda3]

good news... well not really but sorta. gas did go down like 9 cents since the other day when it skyrocketed. so thats good and it should go down from there but because the government likes to screw people over i will believe it will hit like a 1.50 or so. just for regular. i feel bad for the poor saps who have to pay for premium... sorry mazdaspeed owners.

[Zoom Zoom Boy]

... the government likes to screw people over i will believe it will hit like a 1.50 or so. just for regular. i feel bad for the poor saps who have to pay for premium... sorry mazdaspeed owners.

Why feel sorry for us Speed3 owners? Do the actual math... Having to buy premium vs. regular gas, is nowhere near as much as so many people seem to think.

For example, 91 octane is on average, 10 cents more a litre than regular. Lets say you use a full tank, 55 litres of gas per week for 52 weeks.

55 litres X 10 cents for premium per litre= $5.50 cents difference between regular and premium per fill-up.

$5.50 X 52 fill-ups per year= $286.00 difference between regular and premium per yearly consumption. Most people on this forum spend more than that on simple mods to a regular 3 per year.

Now, lets say you step up to the Sunoco 94 octane gas which is typically 13 to 15 cents more per litre than regular. Lets use 15 cents as the number.

55 litres X 15 cents for premium per litre= $8.25 cents difference between regular and super premium per fill-up.

$8.25 X 52 fill-ups per year= $429.00 difference between regular and super premium per yearly consumption. Again, most people on this forum spend more than that on simple mods to a regular 3 per year

Quite frankly, for the additional power, styling, features and fun factor of the Speed3, I would happily pay the additional money to buy premium gas per year.

While $1.50 gas certainly sucks all round, everyone has to pay it. The difference between paying that regular price and premium just simply isn't as much as everyone makes it out to be.

I feel more sorry for the poor schmucks who need to pay thousands of dollars in insurance per year, or that buy a regular 3 and then spend thousands of dollars per year in mods trying to make it look or move faster.

[Flagrum_3]

McTeague mentioned that prices should have dropped by 20c not just 9c. Only reason for the prices not dropping back 20c was simple greed.

McTeague, although he means well (I think :chuckle) also has his head up his ass.....$0.20 cents? It's more like $ 0.40 cents per litre! Another one trying to confuse the masses!.
Before midnight last night, we were being charged .40 cents more per litre then we should have (not according to me but by some economists), that translates to approx $1.51 a (US)gallon, which also translates to approx $22.00 more to fill our tanks!! :complain

Now if I were to walk into a gas station (everytime I go for gas) and take say a $20 bill out of their 'till' and walk out, What would I be doing wrong? ...the answer is obvious but it is basically what the Oil companies are being allowed to do to all of us with no consequences! :loco


_3

[Go_Habs_Go]

all these taxes are having an effect on the people..i kno British Columbia's gas prices have permanently risin 2 cents for the carbon tax that has been passed..unfortunately it is in discussion for ontario to have this tax too..this is ridiculous..i think ontario is the most taxed province in canada:blush

hahahahaha try living in Quebec if you think you are taxed heavily in Ontario!! Here's an example: my car registration is 260$ A YEAR!!!!!!!!!!! And that's with me being a good driver (i.e. no driving infractions in last 2 years). If I had driving fractions, then the registration fee rises.

Oh mercy...don't get me started on taxes... :complain

[Go_Habs_Go]

Now if I were to walk into a gas station (everytime I go for gas) and take say a $20 bill out of their 'till' and walk out, What would I be doing wrong? ...the answer is obvious but it is basically what the Oil companies are being allowed to do to all of us with no consequences! :loco

_3

Now that would be funny. Pump gas, pay for the gas, then put on a ski mask and come back and take 20$ out of the cash register, saying all the while "YOU OWE ME, YOU SOB'S!!!!" LOL

[Thrizzl3]

what registering a car is WAT!!! wow..toronto is a very unlucky city due to the recent addition of another car tax (forgot what its called) and it tacks on an extra $60 to the yearly registration of the stickers but i dunno if its only for toronto or if its for the GTA..if it is..then..we need a better government that isn't as greedy as the one we have now. On the good side of things gas prices on coming down..i remember passing a gas station seeing ppl pump with smiles on their faces..:loco gas prices are still high

[Go_Habs_Go]

we need a better government that isn't as greedy as the one we have now.

yeah unfortunately its always easier for a govt to come up with a new tax rather than learn how to properly manage and spend the tax money they already receive.

[Thrizzl3]

as an ontario tax payer i feel that the government is like robin hood. (im sure everyone knows who this is) and we are being stripped of out money and thee government is using this treasure for themselves..as in they have nothing to show for it so that when they are rich enuff they just call a new election so the next person in line can have their share of wealth:flaming

[Zoom Zoom Boy]

Haven't left home yet this morning. Did gas prices drop further overnight or are we still getting screwed in the keister?

[LockOut]

Down $0.03, if I heard correctly.

[bluemazda3]

I hate when I have to pay over $50.... I used to pay $55 for a GMC Jimmy

[RallyPlaya]

I Remeber when i first got my car it was always 40$ from close to empty to full i would just take two 20's and toss them @ the cashier now i pay up to 60$ sometimes =(

[Go_Habs_Go]

In Montreal the best I saw this morning was 134.5 a litre.

It's still WAY WAY WAY OVER what it should be based on the price of a barrel of oil and the fact that most of the damage from hurricane Ike was not super significant to the oil supply.

:complain


_______

UPDATE: On my way home from work tonite I saw some places at 128.9...let's hope it keeps dropping. 90 cents a liter would be nice

[boost123]

gas price went down to 119.8!!!:bana2 just went to fill up a full tank

[condor888000]

109.9 here at Sunoco in Ottawa....116.2 at the rest.

[STeeLy]

109.9 here at Sunoco in Ottawa....116.2 at the rest.
For some reason, Canadian Tire is always cheaper by 1cent/100L which I find extremely odd...

[ultimateM3]

For some reason, Canadian Tire is always cheaper by 1cent/100L which I find extremely odd...

and if u apply cdn tire gas credit card u can also receive more discount off/litre, depends on how much u spend ur credit card. The most discount i got from my card was 10cents off/litre. (i think) cant recall, been awhile now. That was when my card is almost to its max limit.

[b.rabbit]

113/l today!! will it drop more tomorrow?

[Zoom Zoom Boy]

113/l today!! will it drop more tomorrow?

Even at $1.13 it is still overpriced based on market trending over the past year. It should be around 95 cents a litre.

However, the price of Oil has gone up slightly the past 2 days, so I wouldn't necessarily expect a further drop, but that will largely depend on the closing prices at the end of day today.

[MAZDA Kitten]

^^ so true

Couple days it closed at $90 a barrel then $95 but the trend is still downwards. I'm watching the market closely today (yayyy SanDisk!)

Im kinda peeved at myself I filled it when it was $1.37, then filled it again at $1.26 the next day it dropped to $1.19.

Today is $1.13. Americans still pay way cheaper than us (todays price in Buffalo/Niagara is $3.73 gallon (3.7854 liters) which is .985 cents a liter (someone correct me if I'm wrong)

[Go_Habs_Go]

!@#!#@$%@$! We're still at 128.9 a litre in Montreal as of this morning! :complain

We're getting HOSED out here!!! :flaming

[MAZDA Kitten]

whyyyyyyyyyyyyyy is it so expensive in Montreal??? I saw it went to $1.48 for regular!

[Cardinal Fang]

McTeague, although he means well (I think :chuckle) also has his head up his ass.....$0.20 cents? It's more like $ 0.40 cents per litre! Another one trying to confuse the masses!.
Before midnight last night, we were being charged .40 cents more per litre then we should have (not according to me but by some economists), that translates to approx $1.51 a (US)gallon, which also translates to approx $22.00 more to fill our tanks!! :complain



Please keep in mind that our taxes in this country goes to pay for that wonderful thing we like to come down on as being badly run. Health Care. It's the biggest expenditure of any Federal Budget. And it's still not enough by many people's standards.

While I love going to the U.S. and filling up on Gas I also realize they don't have to cover the cost of Health Care. Their taxes are lower as a result. We are paying more for gas than our U.S. counter parts, that much is true. But you can't expect us to pay the same amount and still have Health Care in this country.

[Flagrum_3]

Please keep in mind that our taxes in this country goes to pay for that wonderful thing we like to come down on as being badly run. Health Care. It's the biggest expenditure of any Federal Budget. And it's still not enough by many people's standards.

While I love going to the U.S. and filling up on Gas I also realize they don't have to cover the cost of Health Care. Their taxes are lower as a result. We are paying more for gas than our U.S. counter parts, that much is true. But you can't expect us to pay the same amount and still have Health Care in this country.

What do taxes have to do with my statement? I'm talking strickly price at the pump verse the cost of a barrel!! ...and specifically how the price has not been follwing it here in Canada recently for some unknown reason.

Taxes is another topic altogether :)


_3

[DumpInfo]

I never really understood why Montreal residents always had to pay 10 cents more per litre then us...what gives?

[Zoom Zoom Boy]

What do taxes have to do with my statement? I'm talking strickly price at the pump verse the cost of a barrel!! ...and specifically how the price has not been follwing it here in Canada recently for some unknown reason.

Taxes is another topic altogether :)


_3

Fang,

Flagrum is actually bang on regarding the price at the pumps largely reflecting the price of a barrel of oil over the past 1+ years. There is a definitive trending that every dollar in the price of oil has been reflected by one cent in the price of gas.

His observation that of late, this trend has not continued, particularly since the price of oil has been in free fall, is an astute observation.

You of course, are bang on about taxes paying for our health care. That said, maybe they should instead pay for:

RX8 RIMS! RX8 RIMS! RX8 RIMS! RX8 RIMS! :chuckle

[dentinger]

wooooooooooo!!!!
$1.13 gas!!!! woooooooo!!!!! and i found a station today with $1.12 gas!! so i topped up my tank just for the hell of it!

[Go_Habs_Go]

I never really understood why Montreal residents always had to pay 10 cents more per litre then us...what gives?


whyyyyyyyyyyyyyy is it so expensive in Montreal??? I saw it went to $1.48 for regular!

It's always been an issue in Quebec, there are higher provincial taxes on just about everything, including gas.

So while I'm not 100% sure, I think the majority of the difference in gas prices between Quebec and Ontario is due to the higher provincial taxes on gas. Quebec spends more on social programs (supposedly) so the money has to come from somewhere...higher personal income tax, higher gas tax, higher car registration fees, etc, etc. The only advantage we have is the lower cost of living vis a vis Ontario so we can get by with less...but it still sucks to pay so much tax!!

[Go_Habs_Go]

well Montreal prices were down to about 116.9 today...so at least there is a downward trend over the last week or so.

Let's hope it continues!!

[cwp_sedan]

Looks like gas is supposed to go down 6 cents tonight! :)

[Thrizzl3]

im running my tank to empty..

[Go_Habs_Go]

the price of a barrel went under 100$ US today so that should precipitate a drop in the prices...

[RallyPlaya]

Weird How the Day after the Biggest Drop in the US Dow Jones Stock Ever in History the Gas Price Goes Down

[Dante]

http://www.mcteague.ca/WebPages/gas_price_today.htm This will tell you the future of gas prices honestly, 6 cents down tho! woo.

[cwp_sedan]

http://www.mcteague.ca/WebPages/gas_price_today.htm This will tell you the future of gas prices honestly, 6 cents down tho! woo.

Dude...that link is in the first post in this thread. :chuckle

[Soyabean]

Dude...that link is in the first post in this thread. :chuckle

LOL, that is EXACTLY what i was gonna say....

Thanks ryan lol

[cwp_sedan]

LOL, that is EXACTLY what i was gonna say....

Thanks ryan lol

:chuckle

What can I say but READ a little lol...

[x_o_k_x]

Nice! Im running below empty right now..

[STeeLy]

x_o_k_x: Gas is at 104.x in Ottawa right now... GREAT time to fill up (My housemate filled up the car over the weekend... shoulda waited til today... LOL)

[Dante]

:chuckle

What can I say but READ a little lol...

sorry XD, dont cry.

[Flagrum_3]

Although happy to see the price going down.....We are still getting RIPPED!
The barrel settled at $96 yesterday, meaning we should be at $0.96c a litre give or take a couple of cents.....I know I should be looking at things as a glass half full but it just burns my ass everytime I have to get gas knowing they are stealing money from me (and everyone else) and making billions in profit because of it.

Sorry end of rant!


_3

[Go_Habs_Go]

look at the bright side, at least you pay less for gas in Ontario than Quebec!

today, prices in Montreal were between 121.9 and 124.9 (on my way in to work) :complain

[Thrizzl3]

yay prices are $1.10 gonna fill up later today

[SSmoked]

ahah 10km till empty for me ill have to drop by the sunoco to fill up. the line up is gona be insane the. oo well its soo worth it.

[Go_Habs_Go]

fark, it went back up to 1.26 today!! :complain

[Flagrum_3]

As of closing Thursday Oct 2 the barrel was at $93.84, price at the pumps $1.12 a litre.That's an 0.18c inexcusable profit per litre or $10.00 a tank or (millions in profits per day for the oil campanies from simply gouging!!) .....just keeping tabs :whoa


_3

[Zoom Zoom Boy]

here is the latest...

Oil prices fall as OPEC calls emergency meeting



By STEVENSON JACOBS, THE ASSOCIATED PRESS

2008-10-09 14:35:00






Notable business failures

How badly are we getting gouged at the pumps?



NEW YORK - Oil prices extended their losses Thursday even as OPEC hinted it might cut output to halt the market's dramatic slide at an emergency meeting next month.

Fearful that oil prices could fall too far and harm their petroleum-dependent economies, OPEC said it would hold an extraordinary meeting Nov. 18 in Vienna, Austria to discuss the widening economic crisis and how it's affecting the oil market.

The 13-member cartel didn't mention a production cut but hinted that such a move may be coming, saying it would work "to ensure that oil market fundamentals are kept in balance and market stability is maintained."

Light, sweet crude for November Delivery fell $1.44 to $86.99 a barrel in afternoon trading on the New York Mercantile Exchange, after fluctuating between positive and negative territory earlier in the day.

The contract fell $1.11 on Wednesday to settle at $88.95 after earlier edging below $85 - a key technical level that some traders believe could lead to another plunge.

Crude has shed about $60 - or 40 per cent of its value - since soaring to a record $147.27 on July 11. The massive losses come as a global financial downturn forces people and businesses everywhere to cut back.

Libyan national oil company chief Shukri Ghanem on Thursday called on oil producing nations to cut output to "protect their interest (and) stop the loss of income."

"However, OPEC's aim is to create a balanced market, which neither harms the producers nor the importers," Ghanem told The Associated Press.

OPEC controls 40 per cent of the world's oil supply, but many analysts doubt it will be able to slow oil's descent just by tightening output. OPEC's announcement that it would cut production by 520,000 barrels a day failed to halt oil's drop.

Peter Beutel, oil analyst at Cameron Hanover, New Canaan, Connecticut, said history shows that OPEC cuts can rally prices for "a week, two weeks or a month."

"But over a longer period of time, they're incapable of stopping major moves," Beutel said. "We've been down this road before, but OPEC refuses to learn this lesson."

Meanwhile, oil market traders continue to watch a fast-unfolding financial crisis. The U.S. Federal Reserve, along with central banks in Europe and China cut interest rates Wednesday in a bid to jump-start lending. But U.S. stocks sank in response Wednesday and continued to fall Thursday.

"Traders are expecting the world to move toward recession, with the U.S. and Europe especially a concern," said Gerard Rigby, an energy analyst with Fuel First Consulting in Sydney. "Based on the short-term trend, you could see prices approaching $80 next week."

Weighing on prices was evidence of falling demand in the U.S, where crude inventories jumped by 8.1 million barrels last week while gasoline stocks surged 7.2 million barrels, the Energy Information Administration said Wednesday in its weekly inventory report.

Both increases far exceeded expectations, reflecting both persistently weak demand and a recovery of the Gulf Coast energy complex that had been shut down by hurricanes Gustav and Ike.

"Overall demand for oil fell for a fifth straight week and year-on-year demand fell for a 24th straight week" this year, noted trader and analyst Stephen Schork in his Schork Report. "In fact last week demand ... fell to the lowest level since the week following the 9/1 1/2001 attacks."

Demand for gasoline was also weaker, falling 5.3 percentage points over the four weeks ended Oct. 3 compared to the same period a year earlier, according to the EIA report.

In other Nymex trading, heating oil futures fell 4.92 cents at $2.4453 a gallon while gasoline lost 4.83 cents to $2.4462 a gallon. Natural gas for November delivery rose 6.5 cents to $6.807 per 1,000 cubic feet.

In London, November Brent crude fell $1.27 to $83.09 a barrel on the ICE Futures exchange.

-

Associated Press writers George Jahn in Vienna, Austria, and Alex Kennedy contributed to this report from Singapore.

[Go_Habs_Go]

we're at around 1.10 a litre in Montreal today.

With the current price of a barrel we really should be under 1$ a litre. :complain

[Zoom Zoom Boy]

I love it, gas prices here actual went up by 2 cents overnight just before the long weekend, yet...


Crude Oil Plunges Below $80
Xinhua News Agency Friday, October 10, 2008


Crude oil prices plunged below $80 a barrel Friday morning amid global sell-off.

Light, sweet crude for November delivery fell to as low as $79.27 a barrel, down $7.32 on the New York Mercantile Exchange.

Concerns that the economic recession would force consumers and businesses to cut back on energy use has dominated the market. The financial turmoil continued to spread with New York stocks sinking for seven straight sessions.

The U.S. Energy Department reported a huge jump in crude and gasoline inventories as well as a 5.3 percent drop in gasoline demand, which added to investors' demand worries.

Crude oil has shed nearly 46 percent from its all time peak of 147.27 dollars a barrel on July 11.

[Go_Habs_Go]

I heard on the radio that a gas station in Montreal had gone down to 0.96 a litre!! but I don't know if it was true or not. I saw one place on my way in to work and it was 1.08

[jaimie08mazda3]

on my way to work this morning i saw 102.2!!! sweet.

[mazdas3sporte]

i filled up at a 1.02 yesterday now today its 99 cents... its soo stupid and its been getting on my nerves, it doesent make sence to go 5 cents up one day then 2 cents down the next day and a week later 30 cents up again.... its really annoying and iam getting pissed off

[STeeLy]

where is it that's 99 cents today?

[Ogata]

where is it that's 99 cents today?

Ottawa not GTA. :complain :bang

[b]

Was that price in burlington today/night.

[alhope34]

was 99 cents at the Sunoco in Kingston on my way home from MTL. I got my ultra 94 for $1.13!

[STeeLy]

Also 99.9 cents in Trenton's Petro...

98.6 through out Ottawa.

[Go_Habs_Go]

98.6?!?!

it's at 108.6 in Montreal today :complain

[STeeLy]

Gas prices back up in Ottawa again... 102.2

[Zoom Zoom Boy]

Should go down after midnight today. Price of oil went down almost $5.00 today and is currently sitting a shade over $74.00 a barrel.

[Go_Habs_Go]

believe it or not it was at 102.4 tonite at some Montreal gas stations. I topped off the tank without a moment's hesitation!

BUT I heard it's going up to 116 tomorrow?? makes no sense considering the price of a barrel is going down no?? argh who cares anymore...

[MikeyGT]

Hey guys..

don't quote me but has anyone else notice this that every time the oil stock goes down, the gas prices soars.. and when the stocks go up.. the gas price goes down.. most of the time.. not always.. :)

[STeeLy]

Hey guys..

don't quote me but has anyone else notice this that every time the oil stock goes down, the gas prices soars.. and when the stocks go up.. the gas price goes down.. most of the time.. not always.. :)
I guess it's one of those supply and demand things eh? More oil, nobody buys... price comes down...? Maybe?

[Zoom Zoom Boy]

The November crude contract on the New York Mercantile Exchange closed down $4.69 at US$69.85, closing below S$70 for the first time since August 2007, as new data showed much higher oil inventories in the U.S. last week.

Oil has lost more than half its value in three months from its July peak of US$147.27.

[Thrizzl3]

need to fill up tomoro..gas is gonna be a $1 since how long ago:bana

[EastYork3]

October 17th it's going down to 99.3 cents!!!

[MikeyGT]

I guess it's one of those supply and demand things eh? More oil, nobody buys... price comes down...? Maybe?

Na,.. i don't think so. Its more about ripping us off. There's alot of oil.. so supply isn't an issue. demand. mmm.. well i also dont think its any higher today than tomorrow as the auto sector is going down the tube

in other news...dan mcteague is back and updating the gas price tomorrow. Be sure to check at ~5pm on this link, http://www.mcteague.ca/WebPages/gas_price_today.htm, or listen to the radio :)

[Flagrum_3]

Supply this, supply that, it's all bullshit! No matter what they say, the price at the pump should directly reflect the price of a barrel and as of today the barrel being at $69 on the world market, it should be reflected with an actual price of .69c a litre at the pumps....but no, we're paying .99c a litre; that's alot of unsubstantiated profit going to the oil companies!! We're simply being hosed!!

McTeague is just a puppet being controlled by the oil companies to give Canadians a sense that the Government cares, meanwhile their allowing the oil companies to give it to us up the ass!

I was watching CP24 this morning and the reporter was interviewing several motorists as they pumped their gas, a couple gave the normal stupid remarks like "what are you going to do you gotta buy gas" ....but one gentleman of Indian decent made the proper statement in "I'm happy to see the price going down but it is not low enough, they are not following the world price anymore we should be paying maybe 70 cents a litre today" ...maybe if more people payed attention and complained like this gentleman did, we wouldn't be getting raped like we are here in Canada.

End of Rant,

Thank-you :)



_3

[silvermist99]

Supply this, supply that, it's all bullshit! No matter what they say, the price at the pump should directly reflect the price of a barrel and as of today the barrel being at $69 on the world market, it should be reflected with an actual price of .69c a litre at the pumps....but no, we're paying .99c a litre; that's alot of unsubstantiated profit going to the oil companies!! We're simply being hosed!!

McTeague is just a puppet being controlled by the oil companies to give Canadians a sense that the Government cares, meanwhile their allowing the oil companies to give it to us up the ass!

I was watching CP24 this morning and the reporter was interviewing several motorists as they pumped their gas, a couple gave the normal stupid remarks like "what are you going to do you gotta buy gas" ....but one gentleman of Indian decent made the proper statement in "I'm happy to see the price going down but it is not low enough, they are not following the world price anymore we should be paying maybe 70 cents a litre today" ...maybe if more people payed attention and complained like this gentleman did, we wouldn't be getting raped like we are here in Canada.

End of Rant,

Thank-you :)



_3

im with you on that one! I'm going to try & hold off filling the tank for another week to hope prices adjust.. the US is now under $3 a gallon.. even with our lower CAD now it still works out to be about 0.80L

[EastYork3]

Man, I remember when I was a kid my dad would fill up at ¢.45/L and get a free collectors mug. He'd base where he'd fill up on what they were giving away, not on price.

[RemaerdLacidar]

The posted numbers were off a little for today in the Ottawa area ... I just filled up at 94.5¢/L :bana

[Zoom Zoom Boy]

Today's pricing on oil...

On the TSX, the energy sector was up 6.9 cent after three days of oil-price declines that took crude below US$70 a barrel for the first time since August 2007.

The November crude contract on the New York Mercantile Exchange gained $2 to US$71.85 a barrel ahead of OPEC's special meeting on prices next week.

[Go_Habs_Go]

Man, I remember when I was a kid my dad would fill up at ¢.45/L and get a free collectors mug. He'd base where he'd fill up on what they were giving away, not on price.

I rememeber when I was kid...I walked 30km just to get to school! and it was uphill...both ways! and I had no shoes!! and I played stickball with a tree branch and a rusted can! and I was happy just to have that rusted can!!

sorry I couldn't resist...:chuckle

[Zoom Zoom Boy]

I rememeber when I was kid...I walked 30km just to get to school! and it was uphill...both ways! and I had no shoes!! and I played stickball with a tree branch and a rusted can! and I was happy just to have that rusted can!!

sorry I couldn't resist...:chuckle

My family lived on the side of a mountain and we had to walk up and down that mountain avoiding rock slides and avalanche's just to get water. We didn't even have time for school. Your family could afford a tree branch and rusted can???! Ha! The luxury!!! We had to make do with a matchstick and a hairball our cat coughed up before we ate him due to the starvation caused by the volcano of 67. When I was a kid...:chuckle

Keeping it on topic, I just filled the Speed3 up today at 113.2 for 94 premium in Newmarket. Regular was 99.2.

[Cardinal Fang]

+1000 to Zoom Zoom Boy for his subtle insertion Monty Python.

*Cleans coffee off keyboard*

[EastYork3]

I rememeber when I was kid...I walked 30km just to get to school! and it was uphill...both ways! and I had no shoes!! and I played stickball with a tree branch and a rusted can! and I was happy just to have that rusted can!!

sorry I couldn't resist...:chuckle

You're gonna have to speak up sonny...LOL...geez, I'm not that old...or am I? :chuckle

[Zoom Zoom Boy]

+1000 to Zoom Zoom Boy for his subtle insertion Monty Python.

*Cleans coffee off keyboard*

Can't believe anyone caught the correlation... You showing your age Fang?

Nee, Nee, Nee...and incidentally, "Your father was a hampster and your Mother smelt' of Elderberrrrrries!" :chuckle

[mazdas3sporte]

I still remmeber the days where gas was 15 cents /liter and people spilled 5 liters on the ground before it even hit the gas tank... oh wait it still exists.... in Iran lol, super is like 40 cents and regular 15cents a liter.... good lifeeee



Man, I remember when I was a kid my dad would fill up at ¢.45/L and get a free collectors mug. He'd base where he'd fill up on what they were giving away, not on price.

[Noisy Crow]

No matter what they say, the price at the pump should directly reflect the price of a barrel

Why? Now I am not saying that we shouldn't be paying less at the pumps, but why does the pump price HAVE to directly follow crude prices? There is a relationship between crude and pump prices, but other factors are involved as well.

I will give you one example: where I work we use a lot of commodities. Typically we sign contracts that have fairly short-term price guarantees. When commoditiy prices started to go through the roof we signed some longer-term contracts to protect ourselves. Now, even though commontity prices have fallen through the floor we are stuck with paying the higher contracted price for some time. As a result the price of the products we sell remains higher than it would otherwise.

[Zoom Zoom Boy]

Here is the latest...
Toronto's energy sector fell nine per cent as the December crude contract in New York lost $5.43 to US$66.75 after data showed American crude stocks jumped by 3.2 million barrels last week, adding to growing evidence that an economic downturn is drying up demand for energy.

[Thrizzl3]

gas is the cheapest ive seen it as since it went up in 2006..93.1 cents :bana2

[jaimie08mazda3]

91.3 :). got that in kitchener today. filled up my car right from empty. 40$ lol

[Flagrum_3]

Why? Now I am not saying that we shouldn't be paying less at the pumps, but why does the pump price HAVE to directly follow crude prices? There is a relationship between crude and pump prices, but other factors are involved as well.

I will give you one example: where I work we use a lot of commodities. Typically we sign contracts that have fairly short-term price guarantees. When commoditiy prices started to go through the roof we signed some longer-term contracts to protect ourselves. Now, even though commontity prices have fallen through the floor we are stuck with paying the higher contracted price for some time. As a result the price of the products we sell remains higher than it would otherwise.

First of all your example has absolutely nothing to do with gas prices as retailers do not buy in that manner.Only certain companies do, such as the TTC etc;

Secondly I get my info from astute observation over the past several years, even longer actually! ...watching the correlation between the price of a barrel vs. the price at the pumps, also taking into account the value of the Canadian dollar.So as I said, no matter what price we pay at the pump, it is directly reflected by the price of a barrel....only the price of a barrel is affected by outside factors such as supply, demand, wars, storms etc; etc;.Now when the barrel just recently was at $125 we were paying $1.27 a litre and now the barrel sits at $62.80, I would expect to be paying .62-0.69 cents a litre, all influences accounted for.

So unless you've been keeping track as closely as I have, I don't think you have much of an argument.


_3

[Cardinal Fang]

Please don't take this personally but....



Secondly I get my info from astute observation over the past several years, even longer actually! ...watching the correlation between the price of a barrel vs. the price at the pumps, also taking into account the value of the Canadian dollar.

First of all, comparing the price of oil vs gas throughout a period of time is no more astute than what NoisyCrow is proposing. At best its equal. At worst it ignores other factors that have come into play within the last 20 years of oil production and consumption.

This is a good article:

http://money.cnn.com/2007/05/16/news/economy/oil_bythebarrel/index.htm

"Doesn't seem right, does it? The price of a barrel of crude ought to be a better benchmark for what you pay at the gas pump.

In today's economy, though, that type of formula is out the window, a relic from the days when refineries kept crude stocks high during winter months and Americans didn't drive longer and longer distances to get to home, work and play.

Nowadays, pump prices are determined far more by supply and demand for gasoline than by how much traders buy and sell crude for on the open market."

"Forget everything you ever learned or ever read about the connection of crude oil prices to gasoline, because there is a disconnect today," said petroleum industry consultant Tim Hamilton. "All the price of oil does is establish a floor of what the price is going to be in the country."

And a great website dedicated to understanding what's really going on:

http://www.oilwatch.org/



So as I said, no matter what price we pay at the pump, it is directly reflected by the price of a barrel....only the price of a barrel is affected by outside factors such as supply, demand, wars, storms etc; etc;.Now when the barrel just recently was at $125 we were paying $1.27 a litre and now the barrel sits at $62.80, I would expect to be paying .62-0.69 cents a litre, all influences accounted for.

_3

Simplistic view that can be easily contradicted in my example below. Gas prices today are less then they were in 1999. How? Its all in how you look at the price at the pump. In terms of the number of dollars and cents you pay then its true the price is up.

However, lets look at the price of gas from another perspective.

In 1999:

Price of Oil/Barrel = $8.50 U.S.
Price of Gas in GTA = 66.9/litre
Price of Gas as % of Barrel of Oil = 7.8%

In 2008:

Price of Oil/Barrel - $63.00 U.S.
Price of Gas in GTA = 97.4/litre
Price of Gas as % of Barrel of Oil = 1.5%

Absurd as this sounds and I'm the first to point this out, this is how you can read statistics without knowing the full range of factors that affect how gas is priced. Are we being hosed? Absolutely! But I'm not that naive to believe it's a simple correlation of gas vs price per barrel of oil because it can be read in two different aspects.

[Go_Habs_Go]

91.3 :). got that in kitchener today. filled up my car right from empty. 40$ lol

sweet!!!!!

it's pretty low in Montreal too! On Monday it was at 99.9, the first time it went under a 1$ in Montreal for who knows how long!

And today I saw it for 95.1!!!!!! Boom-shacka-lacka!!!!! :bana2

Let's hope the downward trend continues...

[Flagrum_3]

Please don't take this personally but....



First of all, comparing the price of oil vs gas throughout a period of time is no more astute than what NoisyCrow is proposing. At best its equal. At worst it ignores other factors that have come into play within the last 20 years of oil production and consumption.

This is a good article:

http://money.cnn.com/2007/05/16/news/economy/oil_bythebarrel/index.htm

"Doesn't seem right, does it? The price of a barrel of crude ought to be a better benchmark for what you pay at the gas pump.

In today's economy, though, that type of formula is out the window, a relic from the days when refineries kept crude stocks high during winter months and Americans didn't drive longer and longer distances to get to home, work and play.

Nowadays, pump prices are determined far more by supply and demand for gasoline than by how much traders buy and sell crude for on the open market."

"Forget everything you ever learned or ever read about the connection of crude oil prices to gasoline, because there is a disconnect today," said petroleum industry consultant Tim Hamilton. "All the price of oil does is establish a floor of what the price is going to be in the country."

And a great website dedicated to understanding what's really going on:

http://www.oilwatch.org/



Simplistic view that can be easily contradicted in my example below. Gas prices today are less then they were in 1999. How? Its all in how you look at the price at the pump. In terms of the number of dollars and cents you pay then its true the price is up.

However, lets look at the price of gas from another perspective.

In 1999:

Price of Oil/Barrel = $8.50 U.S.
Price of Gas in GTA = 66.9/litre
Price of Gas as % of Barrel of Oil = 7.8%

In 2008:

Price of Oil/Barrel - $63.00 U.S.
Price of Gas in GTA = 97.4/litre
Price of Gas as % of Barrel of Oil = 1.5%

Absurd as this sounds and I'm the first to point this out, this is how you can read statistics without knowing the full range of factors that affect how gas is priced. Are we being hosed? Absolutely! But I'm not that naive to believe it's a simple correlation of gas vs price per barrel of oil because it can be read in two different aspects.


Your basing your argument on an article(s)!! Other then the fact that the article is old (from last year) and the article is also flawed in that it uses 'reasonings' that effect the price of a barrel of oil to explain the dis-correlation of the prices at the pump.....what? :loco
I would also not put much faith in an article form CNN.(Very right wing organization).

I'm basing my argument from watching the actual day to day correlation between the two for the past several years, back to the time just prior to the U.S invasion of Iraq, not by reading an article and trusting someone else to tell me what's up!

The main point in my argument is that there has been a very close, predictable and consistant 'correlation' (have I used that word enough yet :chuckle), between the barrel price and the pump price 'until just recently' , till the price spiked to approx $145 a barrel (and the price at the pump followed suit predictably)...But since the decline it has not, not even close! and I'm asking why? Why would this change all of a sudden? Why would the price at the pump not follow the barrel as it has for years?

As for the supply and demand argument that just strengthens my point, as of late the demand is the lowest in over a year and the U.S reserves are high.

I agree whole heartedly with you that we are being Hosed by the Oil companies, but I'm saying; 'Even more so then people realize'.


_3

[Cardinal Fang]

Your basing your argument on an article(s)!!

No. The article highlights what I believe as well as many industry experts that have been watching this with interest.



Other then the fact that the article is old (from last year) and the article is also flawed in that it uses 'reasonings' that effect the price of a barrel of oil to explain the dis-correlation of the prices at the pump.....what? :loco

Unlike your anecdotal evidence which could stand up to any criticism by people with expertise in the actual industry as watch dogs?




I would also not put much faith in an article form CNN.(Very right wing organization).

Right wing? Wait.... isn't it the liberal dominated media? Pay more attention to content and less to labels Flagrum.



I'm basing my argument from watching the actual day to day correlation between the two for the past several years, back to the time just prior to the U.S invasion of Iraq, not by reading an article and trusting someone else to tell me what's up!

So let understand this then. You watch the price of oil and make an observation on what it can be that causes this. Because it happens to fall into your unproven definition of how it behaves that automatically makes YOU correct and industry experts WRONG!

What are your credentials Flagrum? I want to know. You seem to have discovered something that everyone has overlooked. That's a neat trick! I think I'm going to try that.

Pigs can't fly. That's because there is a yet undiscovered force at work that only acts on pigs. I'm calling it the Pig Force Factor (PFF). I've been watching barn yard animals and in particular pigs all my life. My theory must be true. Try it yourself.

[condor888000]

If CNN is right wing then Fox is downright Fascist....

Anyway I found gas at $0.890 last night here in Ottawa. Was great.

[KenYork]

Price of oil??
Price of gas??

What about other factors such as logistics, workforce, research&developments, rents...

[Cardinal Fang]

Price of oil??
Price of gas??

What about other factors such as logistics, workforce, research&developments, rents...

It's all bullshit. If you just watch the price of oil for the next five years you can figure it all out. Flagrum has all the answers. By the way...I'd like to move to Ottawa.

[Go_Habs_Go]

and the gloves are off!!

DING-DING-DING!!!!

in the copper red corner, wearing copper red shorts...CARDINAL FANG!!!

and in the indigo blue corner, wearing indigo blue shorts...FLAGRUM!!!

[Cardinal Fang]

Red shorts makes my ass look big.

Seriously though. Flagrum and I agree that we're all getting hosed. I just don't believe that it's as simple as Flagrum describes it to be. There are more factors at play.

[Zoom Zoom Boy]

Red shorts makes my ass look big.

Seriously though. Flagrum and I agree that we're all getting hosed. I just don't believe that it's as simple as Flagrum describes it to be. There are more factors at play.

Your ass makes your ass look big. Red shorts just make your big ass look red. :chuckle

There are certainly plenty of other forces at work and no way is it is a simple matter of correlation between price of a barrel of oil to a price per litre at the pumps. I think everyone knows that, at least, I hope they do.

That said, what Flagrum has observed over the past 2 years or more, is actually a correct and astute observation. If you pull up the trending figures on oil, the price per liter at the pumps has largely been trending the exact same. For example, $140.00 per barrel of oil, we pay between $1.35 to $1.45 a liter in regular unleaded. This trend has been prevalent for a longtime now on both uptick and decreases in the price of oil.

However, when the market started to crash and the price of a barrel of oil went into freefall, the price per liter followed suit down to about $125 a barrel and the corresponding $1.25 per liter. After oil started going lower, the price per liter of gas stopped following the immediate trend and became more of a 1 cent drop for every $2 to $3 dollars decrease on the price of a barrel of oil.

So, his observations are reasonably accurate in a purely non-scientific manner, but yah, plenty of other factors are at work. In any case, I have no doubt we are getting screwed by each of those other factors.

[Flagrum_3]

Thank-you Zoom-Zoom boy...atleast someone understands what I was getting at.

Caridnal ***, listen I'm sick of people accusing me of knowing all the answers and then argung with me on things they know even less about.My thoughts are my thoughts and my observations are my observations and just as relavent as anyone elses.Atleast I can say I have been 'observing'. Can you? I doubt it, but you will discount my observations because of what 'Industry experts' say or what 'you' believe! Do you really believe anything and everything you read is the truth?, especially from so called oil experts or analysts...give me a break, and start observing things for yourself.


_3

[silvermist99]

90.2/L tomorrow :/ still a rip off.

[Noisy Crow]

CBC article on gas prices

http://www.cbc.ca/news/background/energy/gas-prices.html

[Zoom Zoom Boy]

Very Good article.

I will say this though, if anyone really wants to answer whether we are being gouged and screwed at the pumps, all one really needs to do is to look at the quarterly profits of the gas companies. One company, may have been Shell, but can't remember for sure at the moment, recently posted an operating profit of 4 billion dollars in a single quarter/3 months. If that were strictly revenue, it would be massive enough, but $4 billion in operating profit after operating expenses and write-off's is farking astounding. Almost all the other gas companies have been setting record breaking profits almost quarter to quarter for several years now.

Chance to guess on who's backs they are making those profits?

[Noisy Crow]

If you follow the link in the CBC article (http://www.gasgouge.ca), you can see an estimate of the excess profit. Today I put in 92.8¢ / L for Toronto, and it the site coughed up $1,000,000..... per DAY!

[Zoom Zoom Boy]

http://tvnz.co.nz/view/page/536641/2249904

Exxon, Shell profits soar
Oct 31, 2008 6:53 AM

Exxon Mobil Corp topped its own record for the highest ever US quarterly operating profit and Royal Dutch Shell Plc earnings beat market forecasts, helped by high oil prices and fatter refinery margins.

But both Exxon and Shell said their oil production declined in the quarter, in part from damage caused by Hurricanes Gustav and Ike which swept through the Gulf of Mexico during the quarter.

US oil prices had peaked above a record $US147 per barrel in early July before turning and falling by nearly 60% over the next three months.

Still, prices averaged about $US118 barrel during the quarter, more than $40 higher than a year-ago period.

Analysts said both Exxon and Shell posted strong performances from their refining arms, which benefited as the declining crude oil price trimmed costs, even as demand for gasoline shrank.

Gene Pisasale, senior energy analyst at PNC Capital Advisors, called Exxon's US refining profits a positive, but said the company needed to focus on boosting oil and gas output.

"They need to be more aggressive with the drillbit ... that's going to be the focus going forward," he said.

The global economic slump has prompted energy experts to pare back oil demand forecasts in recent months, and the sharp declines in oil prices have forced many companies, such as Hess and Suncor Energy, to rein in spending on new projects.

But Irving, Texas-based Exxon said it planned to stick to its plans for spending of $US25 billion this year, and added it had maintained its strong financial position despite the economic turmoil.

Marathon Oil Corp, the smaller rival to Exxon and Shell, said rising production and improved refinery margins helped it more than double its profit in the quarter, but said it would cut 2009 spending by more than 15% from 2008 levels because of the current business environment.

Exxon's earnings jumped 58% from a year ago to $US14.8 billion, and its operating profit climbed 42% to $US13.4 billion, easily topping the previous US record it set in the second quarter at $US11.7 billion.

Anglo-Dutch Shell's profit rose 71% to $US10.9 billion, topping analysts' forecasts, but its shares slipped as investors focused on the company's 7% drop in oil and gas production.
Shell also announced Chief Financial Officer Peter Voser would take over from Jeroen van der Veer as chief executive officer in July 2009,

A decline in oil futures prices that cut into a rally earlier this week pressured shares in Exxon down about 2.3%, after early gains, while Shell shares slipped 3.3%. Marathon shares were near unchanged.

US oil services company BJ Services, which also posted an increase in its quarterly profits, warned it foresaw a drop in activity by oil and gas producers that would weigh on its future earnings.

"We expect drilling activity in North America to begin to decline during our (current quarter) and anticipate moderate reductions in certain international markets," BJ Services Chairman and Chief Executive Bill Stewart said in a statement.

That was echoed by driller Patterson-UTI Energy, which said the number of rigs hired by energy companies to search for oil and gas was likely to shrink through the end of the year.

"While October has generally been marked by increased activity, we have very recently seen some weakness in our rig count, and have been advised by certain customers of their plans to reduce their drilling programs," Patterson-UTI Chief Executive Douglas Wall said.

Both Patterson-UTI and Cameron International Corp posted increases in their quarterly profits of more than 10%.

Patterson-UTI shares rose 4.6% and Cameron was up 6.3%, while BJ Services slipped 0.7%.

In India, Oil and Natural Gas Corp (ONGC) reported a 5.7% drop in quarterly net profit, missing market expectations as its subsidy burden climbed.

ONGC, which accounts for over 78% of the country's oil and gas production, has to sell oil from its domestic output at mandated discounts to state-run refiners to keep retail prices low.

[Go_Habs_Go]

It sickening to read about the profits these companies make :-((

BUT...it's a free market society that we live in...and as long as we keep depending on oil to live our daily lives then these companies will continue to make the profits that they do.

It's as simple as that.

The only solution that I see is electing a government that will start regulating gas prices. They do it with other industries, why not do it with oil? I mean the CRTC oversees a lot of the rate structure that the Canadian telecom industry can use to charge consumers with so why not do the same for the oil industry? Heck the government regulates the price of medication and pharma is big business so why don't they do the same for big oil?!! If they regulate big pharma why not regulate big oil? WHY??????? WHYY?????????????!!!!

Sorry but the price of a litre went back over a dollar today in Montreal so I am FUC*ING PISSED.

[Zoom Zoom Boy]

It sickening to read about the profits these companies make :-((

BUT...it's a free market society that we live in...and as long as we keep depending on oil to live our daily lives then these companies will continue to make the profits that they do.

It's as simple as that.

The only solution that I see is electing a government that will start regulating gas prices. They do it with other industries, why not do it with oil? I mean the CRTC oversees a lot of the rate structure that the Canadian telecom industry can use to charge consumers with so why not do the same for the oil industry? Heck the government regulates the price of medication and pharma is big business so why don't they do the same for big oil?!! If they regulate big pharma why not regulate big oil? WHY??????? WHYY?????????????!!!!

Sorry but the price of a litre went back over a dollar today in Montreal so I am FUC*ING PISSED.

Cause the governments are making way too much money on the price of gas too. The more it goes up, the more taxes they take in. They are just as bad, if not worse, than the oil and gas companies.

[jaimie08mazda3]

90 Cents a litre in kitchener :D :D :D

[Cardinal Fang]

Caridnal ***,

***? Was that meant as an insult? Do you think calling me gay is an insult Flagrum? I think that says more about you then me.



listen I'm sick of people accusing me of knowing all the answers and then argung with me on things they know even less about.

Again, I ask you for evidence and you give me observation. Am I not allowed to question that?



My thoughts are my thoughts and my observations are my observations and just as relavent as anyone elses. Atleast I can say I have been 'observing'. Can you?

Yes absolutely. However my observations are discounted by you as crap without offering any evidence to the contrary. Just observation.



I doubt it, but you will discount my observations because of what 'Industry experts' say or what 'you' believe! Do you really believe anything and everything you read is the truth?

No but I'm more inclined to believe someone with industry credentials than a person who simply watches trends and offers no empirical evidence to back it up.




, especially from so called oil experts or analysts...give me a break, and start observing things for yourself.


Here's the issue I have with this Flagrum. I can observe anything I want in life. But without insight into how it operates or the factors that "can" contribute to how it behaves I am just making assumptions. Observations has it's limitations. Recognize that before you make statements of facts.

[Go_Habs_Go]

Cause the governments are making way too much money on the price of gas too. The more it goes up, the more taxes they take in. They are just as bad, if not worse, than the oil and gas companies.

I guess so...because the taxes are a percentage of the price per litre that is being charged so as the price goes up so does the actual tax being collected. BUT at the same time, governments pay a ton of money too for the gas for their fleet of cars...but I guess it pales in comparison to the money they rake in from the higher taxes.

Ah well, time to start using public transportation...when demand drops we see how the price of oil drops too. Problem is that we are all too dependent on the car as a mode of transportation. Something will have to give soon...either new ways to power vehicles or a drastic change in how our cities are designed.

[Zoom Zoom Boy]

***? Was that meant as an insult? Do you think calling me gay is an insult Flagrum? I think that says more about you then me.

No, not really....http://img2.mysmiley.net/imgs/smile/adult/homoswitch.gif (http://www.mysmiley.net/free-sad-smileys.php)
:chuckle

Settle down guys. This is all just a lot of hot air and gas...

[Go_Habs_Go]

This is all just a lot of hot air and gas...

This whole discussion is certainly about gas LOL.

But let's not talk about the gas I get after eating some burrito's, now that could power an engine or 2...and for a pretty good price too!

[whiteomega]

I don't think it's unreasonable to ask for the proof underlying observations; especially if those observations were presented as fact (which is how it appeared to me).

Yes oil and gas prices are indeed related, but that relationship has always been determined by a number of other factors besides just their prices. There's the cost in transportation of the oil, the cost of refining it, the cost of transporting the refined product, etc. The transportation costs will always vary with the cost of the oil (since you can't actually move oil without oil in this modern world). The other costs fluctuate: how much do you pay a worker? How many attendants do you need at the gas station to keep people moving through it efficiently, etc.

The single biggest factor though that's not controlled by the oil companies is the tax on gasoline. Tax is unavoidable, like a great interstellar bulldozer about to bulldoze the earth to make room for a new intergalactic highway. I wish the government would cut fuel taxes..but really, that's where a large chunk of money comes from..

[whiteomega]

Ah well, time to start using public transportation...when demand drops we see how the price of oil drops too. Problem is that we are all too dependent on the car as a mode of transportation. Something will have to give soon...either new ways to power vehicles or a drastic change in how our cities are designed.

The funny thing about using public transport is that if you're not going that far for work, you actually end up spending more per day on public transport than you would on gas. For me, my commute to work costs me less than taking the bus. Sure, I pay insurance, but if I wanted to have a car for the weekends, I'd still have to pay insurance. If I didn't have a car, or didn't have insurance (or both) then yeah, transit is cheaper. If I was commuting downtown, transit is also cheaper, but I'm not.

[Zoom Zoom Boy]

I don't think anybody thinks it's unreasonable to ask for the proof to the underlying observations. Or at least I don't.

However, it is still incredible fun to keep poking Fang with a big pointy stick... http://img2.mysmiley.net/imgs/smile/fighting/fighting0092.gif (http://www.mysmiley.net/free-unhappy-smileys.php)

[Garu]

The price of gasoline for November 4th will be:
Have fuel price changes sent to your mobile phone
Toronto/GTA/London* 85.1 Cents/Litre DOWN 6.7 Cents

[cwp_sedan]

DAMN!!! That's a steal! Our dollar is staying up too! This is starting to look up. :)

[JonsMazda]

shhweeeet!

[Thrizzl3]

im still at half tank..i wonder if its gonna stay low til next week..

[condor888000]

The only solution that I see is electing a government that will start regulating gas prices. They do it with other industries, why not do it with oil? I mean the CRTC oversees a lot of the rate structure that the Canadian telecom industry can use to charge consumers with so why not do the same for the oil industry? Heck the government regulates the price of medication and pharma is big business so why don't they do the same for big oil?!! If they regulate big pharma why not regulate big oil? WHY??????? WHYY?????????????!!!!

Didn't they do that in NS and found out it didn't end up helping?

[Soyabean]

85.1 cents tomorrow + 20 degrees = spirited driving

lol but seriously, 85.1 cents, i havent seen that in such a long time

[cereal83]

Gas is going to finally drop under $1/liter since i use the premium. I am happy but my gas mileage is suffering. I used to be able to get 600km+ a tank, now I am lucky if it's 5

[Go_Habs_Go]

Didn't they do that in NS and found out it didn't end up helping?

Really? Actually now that you mention it, that does sound vaguely familiar...I wonder how exactly they regulated the prices and why it didn't end up working?

Time to search the inter-web with our good friend google...I'll see what I find.

[condor888000]

I seem to recall prices being fixed for two weeks at a time or something....can't remember specifics.

[jaimie08mazda3]

i keep seeing 91.8, but at an olco its 88.5

[openuser]

WOW, How long has it been since I saw gas price at $0.88/L?
I filled up on sunday night at $1.00/L for V-Power.. Felt much better than paying $1.40/L like I use to couple months ago.

[cwp_sedan]

i keep seeing 91.8, but at an olco its 88.5

There are actually some REALLY low ones, depending on where you are. http://torontogasprices.com/

[Cardinal Fang]

WOW, How long has it been since I saw gas price at $0.88/L?
I filled up on sunday night at $1.00/L for V-Power.. Felt much better than paying $1.40/L like I use to couple months ago.

BNN indicated that the fall of oil is driving the speculators out of the Oil Commodity markets resulting in lower per barrel prices and inturn, lower gas prices.

I can't believe it's gone down this far in such a short period of time.