Gas $143.9

[GordonH]

It's hilarious to see some folks blaming Horgan and Trudeau. Those folks have been brainwashed.

The carbon and transit tax increases account for literally a couple of cents per litre of the recent hikes.

All the rest is going to the refineries.

No wonder they do it. "Let's increase it another 10 cents and let the stupid public blame Trudeau."

So out of Kamloops terminal the oil companies via fuel speculators have raised what they make on a litre of regular gasoline from begining April to now up .129
So out of Vancouver terminal during that same time period, oil companies via fuel speculators have raised what they make on a litre of regular gasoline up .04

[cv23]

And what’s Horgan doing about it?

Sadly Horgan is not a strong enough leader to do much but he is the first western politician in a long time to address the blatant gouging of his constituents at the hands of Big Oil.

[HeavyHauler]

Kelowna is going to become a ghost town. Big oil is going to kill tourism. We had planned to come to the Okanagan for holidays in August, I just got off the phone with the hotel to cancel. EFF THAT

[cv23]

So let me get this straight,Saudi's increase production by 600,000 barrels a day and price goes up ????
From the Castanet story.
"McTeague said he saw the price jump coming more than a week ago when OPEC decided to increase oil production by more than 600,000 barrels per day.

Yup, supply goes up so price has to go up in order to keep profits going up.

It was also interesting that during the supposed BC supply shortage, which was supposedly the reason for our high prices at the pumps, that Suncor was able to stockpile enough fuel to hopefully stave off service interruption while they intentionally disrupted the supply.

[Not PC]

"McTeague said he saw the price jump coming more than a week ago when OPEC decided to increase oil production by more than 600,000 barrels per day.

I was just about to post this.

McTeague is so full of *bleep*, and just a shill. Every time he opens his cake hole he verifies what an idiot he is.

[tsayta]

Who is his mcTeague guy you speak of? Bring him to me

[vinnied]

Saudi increase in oil production was the reason oil prices plummeted to the record lows in the first place, and they've never recovered. lord help us if the ever do.

[GordonH]

Saudi increase in oil production was the reason oil prices plummeted to the record lows in the first place, and they've never recovered. lord help us if the ever do.

Saudi family is doing just fine, another hit to Alberta oil production would be bad.

[vinnied]

For any company big or small that knows what they’re doing, their costs won’t factor into their pricing. They’ll simply price at the highest price the market will bear. If a company increases prices and demand doesn’t fall, then they were priced incorrectly to begin with and should have been at that price all along. The cost increase wasn’t the determining factor in the price increase although it may have appeared to be. The price increase had already been determined by the market and the cost increase had only happened to coincide with a price increase that had already been available to them.

Think about it this way... you pay a price that you perceive as giving you value. You don’t know or care about the costs of virtually everything you buy. Therefore the costs that go into producing a good don’t factor into your decision. As a result, those costs also shouldn’t factor into the way that good is priced because it isn’t important to the person paying the price.

Whether costs go up or down, they aren’t the determining factor of whether or not prices go up or down. Supply and demand is what affects prices, not costs. Using costs to determine pricing is what unsophisticated companies do and it’s also what people who don’t understand business and economics can understand better (even though it’s wrong).

For example, the price of an iPhone is $1000 but that has nothing to do with the fact it costs Apple under $300 to make one. They charge $1000 because that’s what the market says it’s willong to pay for it. Virtually every item you buy follows this pricing strategy.

Gas prices are the same as hydro. no one is going to quit using hydro, yet they want us to cut back, and cut back and cut back. were at a point where we cant cut back no more. people need to drive, and I see a lot of folks using there visas just to pay for fuel costs. much like hydro where they let you pay off your winter bills over time, gas has come to the same point. next step will be the oil companies financing your fuel cost with interest...mark my words..just wait and see

[vinnied]

Saudi increase in oil production was the reason oil prices plummeted to the record lows in the first place, and they've never recovered. lord help us if the ever do.

Saudi family is doing just fine, another hit to Alberta oil production would be bad.

that was in response to the excuse that the reason for the latest increase was an increase in oil production

[GordonH]

https://www.castanet.net/edition/news-s ... htm#230586

Curious thing about latest price increase, its not seen in the rack price:
This attachment is dates & rack price out of Kamloops.

Things that make one go hmm....

[tsayta]

What's rack price?

[GordonH]

What's rack price?

Basically its the price of the gasoline at the Rack (device that fills tanker trucks) at the Kamloops terminal, in our case.

Rack price I use is always Regular gasoline

[Glacier]

Who is his mcTeague guy you speak of? Bring him to me

Retired Conservative MP and owner and founder of gasbuddy.com (a website you should use if you're traveling and want to save money).

As for rack prices, Prince George is always the lowest in BC...

[GordonH]

^^^ PG rack price is usually lower, on very rare occasion even the same or lower then Edmonton.

Added: the refinery has a limited capacity, as I've said in other posts. BC f up by closing refineries, now they are needed.