Gas prices

[masen]

In the Oil Card, a journalist called James Norman, says with much proof that oil prices are set in such a way to break countries so they won't compete with the U.S. In the 70's they were set extremely low to break the USSR, now they are set high to break China and maybe Japan. As Eisenhower said in 1950, beware the Military/Industrial complex as it is more powerful than the US government. It seems like the Canadian government has no say over really anything of importance like jobs or helping Canadians.

[Bchomes4rent]

Has oil/gas prices really increased? In the mid 1960s you could purchase a gallon of gas for a quarter. Today, yes you can still purchase a gallon of gas with that same quarter.

Albiet the quarter needs to be dated pre 1967(silver content). So has gas gone up or has the purchasing power of the loonie fallen into the toilet?

In the 60s a barrel of oil was under 3 grams of gold. Today I believe it is still under 3 grams/barrel. I think converting fiat money in to gold/silver may be the only option to hedge yourself.

[NAB]

Damn, and I filled yesterday at the Super Store gas bar on my way through Nanaimo at 127.9, down from 139.9 to 137.0 plus a ten cents a litre discount coupon :-( And yes folks, that is no misprint - a dollar 3 a litre! We're getting set up for something bad somewhere for the long weekend I'll wager!
Nab

Lineups grow as Costco gas drops gas drops to $1.029

Lineups at the Costco gas pumps in Langford stretched throughout the parking lot on Monday, as drivers took advantage of another drop in prices.

The Costco gas station posted regular fuel at $1.029 per litre when it opened in the morning.

The drop was even lower than on the weekend, when the company slashed prices to just $1.119 a litre, well below the $1.399 seen elsewhere in the region.

Langford resident Joe Lumb, who was taking advantage of the lower prices on Monday, said he regularly fills up at Costco and was looking forward to teasing other people about how cheap his gas was.

"It's just fun to tell everybody," he said. "Especially the people in Vancouver."

Costco staff did not respond to requests for interviews regarding the recent drop in prices.

This is the second weekend in a row that Costco has lowered its gas prices. By Saturday, its closest competitors, Chevron and Esso, had matched the low price.

Not everyone was interested in joining the Costco lineup. Murray Schleining of Langford said the wait would be too long for the savings involved. "It's not worth my time," he said. "You could be there waiting for half an hour."

Instead, he bought gas at the nearby Millstream Co-op gas station — which dropped its price to 117.9 — on Saturday night.

Susan Schmidt, who also lives in Langford, took advantage of the weekend's low gas prices, which she suspects might have been responsible for increased traffic congestion in the area. "At 4:30 p.m., the traffic going out of Langford was crazy, like it was 7:30 in the morning," she said.

Websites tracking fuel prices reported Monday that four gas stations within a kilometre of Costco had posted prices of $1.239.

[Glacier]

Costco is one of the few (possibly only?) retail outlets out there that marks everything up the exact same amount. I would assume gas is the same. If I recall correct it is cost + 15%.

[GordonH]

Damn, and I filled yesterday at the Super Store gas bar on my way through Nanaimo at 127.9, down from 139.9 to 137.0 plus a ten cents a litre discount coupon :-( And yes folks, that is no misprint - a dollar 3 a litre! We're getting set up for something bad somewhere for the long weekend I'll wager!
Nab

Lineups grow as Costco gas drops gas drops to $1.029

Lineups at the Costco gas pumps in Langford stretched throughout the parking lot on Monday, as drivers took advantage of another drop in prices.

The Costco gas station posted regular fuel at $1.029 per litre when it opened in the morning.

The drop was even lower than on the weekend, when the company slashed prices to just $1.119 a litre, well below the $1.399 seen elsewhere in the region.

Langford resident Joe Lumb, who was taking advantage of the lower prices on Monday, said he regularly fills up at Costco and was looking forward to teasing other people about how cheap his gas was.

"It's just fun to tell everybody," he said. "Especially the people in Vancouver."

Costco staff did not respond to requests for interviews regarding the recent drop in prices.

This is the second weekend in a row that Costco has lowered its gas prices. By Saturday, its closest competitors, Chevron and Esso, had matched the low price.

Not everyone was interested in joining the Costco lineup. Murray Schleining of Langford said the wait would be too long for the savings involved. "It's not worth my time," he said. "You could be there waiting for half an hour."

Instead, he bought gas at the nearby Millstream Co-op gas station — which dropped its price to 117.9 — on Saturday night.

Susan Schmidt, who also lives in Langford, took advantage of the weekend's low gas prices, which she suspects might have been responsible for increased traffic congestion in the area. "At 4:30 p.m., the traffic going out of Langford was crazy, like it was 7:30 in the morning," she said.

Websites tracking fuel prices reported Monday that four gas stations within a kilometre of Costco had posted prices of $1.239.

Oh Damn, don't you hate it when that happens. Look on the bright side you did not have to sit in a line-up.
Because if I have the choice of paying extra or waiting in a line up, I usually take the first one.

[burner]

Up 7 cents a litre yesterday, oil prices again go down, yet the media is strangely silent and so are of course our gutless politicians, I wonder who controls who......

[NAB]

Once again, current gasoline price movements have nothing to do with current oil price movements. In BC, gas prices go down unrealistically in one region (like Victoria at the moment), they go up in another region to compensate. The Okanagan is as good a place as any to help offset and subsidize a gas war elsewhere - perhaps even the best place right now as Kelowna is getting off pretty easy compared to elsewhere in BC. A good hit upward for you guys by the long weekend is in the cards now if the weather improves.



Nab

[GordonH]

Once again, current gasoline price movements have nothing to do with current oil price movements. In BC, gas prices go down unrealistically in one region (like Victoria at the moment), they go up in another region to compensate. The Okanagan is as good a place as any to help offset and subsidize a gas war elsewhere - perhaps even the best place right now as Kelowna is getting off pretty easy compared to elsewhere in BC. A good hit upward for you guys by the long weekend is in the cards now if the weather improves.



Nab

Someone is making some good profits, Hmm........... wonder who that could be

[NAB]

Refineries (particularly Chevron)? Retail Marketing Divisions and their outlets?

Nab

[GordonH]

Refineries (particularly Chevron)? Retail Marketing Divisions and their outlets?

Nab

**Off topic** So Nab have you heard of any production issues, there appears to be Esso station in Kelowna who's empty.

[NAB]

No, I haven't heard of any production issues which would affect the Alberta > Kamloops > Kelowna supply. Probably just poor management at that station in preparation for taking advantage of a lower wholesale price by maximizing their next delivery volume, and which will enable them to profit more from higher retail prices to come.

Nab

[Glacier]

I got gas in Kamloops today. It was so cheap it felt like stealing. Sneaked out of there quickly before anyone caught on...

[grammafreddy]

I got gas in Kamloops today. It was so cheap it felt like stealing. Sneaked out of there quickly before anyone caught on...

I bought an area rug like that once ... was looking over my shoulder for the cops to catch me all the way home! $150 carpet marked down to $10. Wowsers.

[GordonH]

I got gas in Kamloops today. It was so cheap it felt like stealing. Sneaked out of there quickly before anyone caught on...

I bought an area rug like that once ... was looking over my shoulder for the cops to catch me all the way home! $150 carpet marked down to $10. Wowsers.

Like this lol

http://m.youtube.com/watch?v=6C7oqXewyCE

[markjb]

Costco is one of the few (possibly only?) retail outlets out there that marks everything up the exact same amount. I would assume gas is the same. If I recall correct it is cost + 15%.

The trick is to define what "cost" means. I can add 15% to anything I have manipulated. If you are suggesting that Costco makes money by selling for a 15% over what they paid, I suspect they would not be in business today.