Price of Gasoline

Messages
6,589
We'll see if the price of gas goes up with the oil price increase due to the Saudi issues. This morning, regular gas in Calgary is still $1 CDN per liter, unchanged. I'll check it over the next month. Feel free to post your gas price.
 
Messages
5,302
If my math is correct, that converts as $2.83 per US gallon. Not bad, I thought gasoline prices were higher than that in Canada or does it vary a lot by province?
 
Messages
6,589
Yes, taxation varies by province. Alberta is of course home to the western Canada refining complex with a gasoline pipeline between Edmonton, where the refineries are, down to Calgary.
 

NO2

Messages
938
Canadian gas price changes are delayed because of FIFO inventory valuation. The US uses LIFO so you see changes within a day or two. Like the US, Canadian pricing varies due to provincial tax differences, competition, regional disruptions, and supply chain costs. Currency fluctuations are another factor because oil is priced in US$. Many US cities, especially in California , have special fuel blends adding another variable. For instance, pricing in the Alberta /Calgary corridor is around C$1/litre, and in Victoria/Vancouver it's C$0.35-40 more per litre, while Ontario currently varies between C$1.10 around London to C$1.40 around Thunder Bay. Not coincidentally, the lower cost areas have both nearby refineries and competition.
 
Last edited:
Messages
544
There will be a market knee-jerk reaction, and then it will level back out. The United States has nearly achieved energy independence, and if there is a bump in price the strategic reserves can be tapped to settle it down. It's been $2.08 to $2.15 around here and it was still the same this morning when I was out and about. The media is running around like chicken little, but they like to generate a big story where a small story exists.
 
Messages
3,739
No change here in SW Ohio. In this area, and regionally in fact, Speedway pretty much dictates the pricing. They raise prices on a whim and all stations follow suit. I drive past (3) of their stations on the way to work and they were at $2.63 and according to GasBuddy, they're actually at $2.60 currently. If they were going to raise prices because of this Saudi incident, they would have done so already.
 
Messages
402
south western pa...last week friday was 2.69 went up over night saturday to 2.79 before the Saudi thing ,,,go figure then again pa has the highest gas tax or close to it at around 90 cents per gallon
 
Messages
3,426
Originally Posted by Fawteen
There will be a market knee-jerk reaction, and then it will level back out. The United States has nearly achieved energy independence, and if there is a bump in price the strategic reserves can be tapped to settle it down. It's been $2.08 to $2.15 around here and it was still the same this morning when I was out and about. The media is running around like chicken little, but they like to generate a big story where a small story exists.
Strategic reserves were tapped yesterday.
 
Messages
14,490
The I read it, strategic reserve to be tapped "if needed". Had not seen release confirmed. Hopefully unnecessary.
 
Messages
544
Originally Posted by BigD1
Strategic reserves were tapped yesterday.
Nope. The President authorized the release, but so far none has been used. It's on an "if needed" basis and so far it has not been needed.
 
Messages
278
Gas went down .03 today from yesterday. We don't seem to get as many of the knee jerk response price hikes here in Kansas as we did when we lived in California.
 
Messages
3,739
I posted around noon that prices remained around $2.60/gallon here. That was according to GasBuddy. As of 5:30, they've jumped up almost $0.30 (here).
 
Messages
2,076
Originally Posted by Fawteen
There will be a market knee-jerk reaction, and then it will level back out. The United States has nearly achieved energy independence, and if there is a bump in price the strategic reserves can be tapped to settle it down. It's been $2.08 to $2.15 around here and it was still the same this morning when I was out and about. The media is running around like chicken little, but they like to generate a big story where a small story exists.
In a global economy energy independence means nothing. We are a net oil exporter and the reserves will have to be replenished at some point.
 
Messages
105
I live in Vinton County, Ohio. Gas around here is about 2.54 last I checked. The whole trend with SUV's is going to go down too, because as time goes on gas prices are going to go up again, and in turn people are going to save more money getting a Malibu, or a camry, rather than a Rav4 or Equinox
 
Top