damn gas here is over $5.00 a gallon for 87octane if you can find it alot of stations are running out and only have 93 octane. gotta love our goverment

 

Woo go US government, and gotta love the Canadian Government for jumping on the bandwagon. even though we get out oil from Venezuela gas is going up here 9 cents a liter(34 cents a gallon) on monday.... how does a hurricane in Texas have anything to do with our gas here?? seriously can someone explain that to me?

 

It's probably basic supply and demand. My understanding is that refineries in Houston process approximately 20% of gasoline produced in the United States. Without Houston refineries, supply plummets without a similar reduction in demand. U.S. gasoline prices likely greatly influence the price in Canada.

 

did you make it through ike ok ron?

 

Same here, I live in Alberta where North America's largest suply of oilsands are and we are paying a $1.43 a litre. I guess the oil needs to be supplied to the places that were devastated so oil price goes up everywhere, I still think these hurricanes and such are used as a economic ploy to jack prices up for everyone.

 

Thanks Peg. We fled to San Antonio so the family and I are fine. My neighborhood friends who stayed have informed me that I have minor roof shingle damage and a fence down in the backyard. All in all, it does not sound too bad -- we feel like we dodged a bullet. We remain in a San Antonio Hotel, however, as our community is still without electricity. I am hoping to hear that power is restored tomorrow so we can return to Houston, though there is by no means any guarantee that this will happen.

 

thats some scary stuff^^ i have been seeing it on fox and a bunch of other stations we get from the USA

 

sometimes, I love living in saskatoon sk... lol even though gas is 1.459/L

there's nothing really anyone can do to stop them... unless someone wants to get their hands really dirty

 

omg $5.00!! its actually been going down here in NY. Lowest i've seen is $3.60 for 87 gas.

 

It *should* be based on supply & demand, but more often than not, it's caused by theoretical supply & demand, which is then blown completely out of proportion.

The general formula (from what I've observed, YMMV) is thus:

Possible event "X" (threat of attack on oil reserves in Iraq, possible tropical storm/hurricane), causes gas price "Y" to increase by multiplier "Z", where Z is some completely arbitrary number.

A Canadian politician said on the news a while ago that a "Category 2 tropical storm turns into a category 5 fleecing for consumers at the pumps"... It's not so far off-base.

I understand that this time rigs and refineries in Texas were ACTUALLY shut down, so it makes this pill a bit easier to swallow... but not much