well thank youuuu
HCF Member
Joined: Sep 2006
Posts: 831
From: Calgary, AB
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
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
HCF Member
Joined: Nov 2005
Posts: 10,485
From: Cornwall, PEI.
East coast of Canada, we don't even get oil from that area, it's just the governments gouging us, and making up excuses.
Recognized HCF Member
Joined: Sep 2007
Posts: 9,453
From: Houston, Texas
This shows my ignorance about our friendly neighbor to the North. Does the government of Canada set the price of gas? None of the oil companies are privately owned? Has Venezuela reduced crude oil production?
HCF Member
Joined: Nov 2005
Posts: 10,485
From: Cornwall, PEI.
From my local news paper
cpl = cents per liter
yeah we don't get our oil from Texas, yet they say that is why it's going up.... riddle me that one batman....
Citing the impact of hurricane Ike on refining capacity in Texas, the Island Regulatory and Appeals Commission announced Sunday gasoline prices will increase by 9.0 cents per litre (cpl) today.
Furnace oil and stove oil prices will decrease by 4.5 cpl, diesel prices will decrease by 5.5 cpl; and there will be no changes in propane prices at this time.
Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 136.0 cpl to 138.1 cpl.
Furnace oil and stove oil prices will decrease by 4.5 cpl, diesel prices will decrease by 5.5 cpl; and there will be no changes in propane prices at this time.
Including taxes, pump prices for regular unleaded gasoline at self-serve outlets will now range from 136.0 cpl to 138.1 cpl.
yeah we don't get our oil from Texas, yet they say that is why it's going up.... riddle me that one batman....
Recognized HCF Member
Joined: Sep 2007
Posts: 9,453
From: Houston, Texas
I don't know the answer. Is it possible that, while Canada does not obtain gasoline directly from Texas refineries, it does obtain a substantial amount from the U.S.? If so, my speculation would be that the spike in gasoline prices expected in the U.S. due the effects of Ike on Houston refineries will also be felt in Canada.