Canadian dollar sinks below 88 cents as Saudis cut oil to $77

[Krovikan]

Originally Posted by Slava

Hopefully you didn't buy those Euros yesterday. Today the ECB announced 1.2 TRILLION in quantitative easing to fight deflation. The Euro was down significantly this morning against the USD (I didn't look against the CAD, but I assume it would be there as well).

Russia gets a crashed currency,
Canada gets a crashed currency,
Europe, you too get a crashed currency,
EVERYONE gets a crashed currency

[Barnet Flame]

Originally Posted by Slava

Hopefully you didn't buy those Euros yesterday. Today the ECB announced 1.2 TRILLION in quantitative easing to fight deflation. The Euro was down significantly this morning against the USD (I didn't look against the CAD, but I assume it would be there as well).

Yeah, CAD is only 2c off a 52 week high against the Euro. In fact, it is one of the best times since shortly after the launch of the single currency for a Canadian to travel to the eurozone.

Even for the UK, if it takes less than $2 to make a pound, historically you are doing very well.

I've found my last few trips to Canada to be pretty pricey. I used to turn up on Calgary with an empty suitcase. Not anymore.

Apart from to load up on Old Dutch ketchup chips, Coffee Crisp, Turtles and Twizzlers.

[Sliver]

Originally Posted by Barnet Flame

Apart from to load up on Old Dutch ketchup chips, Coffee Crisp, Turtles and Twizzlers.

No Hawkins Cheezies?

[Swift]

OPEC calls bottom to market

http://ca.reuters.com/article/busine...0KZ05G20150126

[Frequitude]

Originally Posted by Cameron Swift

OPEC calls bottom to market

http://ca.reuters.com/article/busine...0KZ05G20150126

Did you link the proper article? That just talks about oil wanting to rally a bit on cold weather in the US...

Perhaps you meant this:
http://business.financialpost.com/20..._lsa=78d9-2a68

[Swift]

Hmm, the article changed on Reuters end.

Here it is here - http://www.irishtimes.com/business/e...rket-1.2079873

[chemgear]

We're sub 80 cent dollar and $45 WTI now.

[stampsx2]

So why are gas prices going up 10 cents? Most stations are still at 75 cents but I'm seeing shell and petro canada at 85 cents.

Can anyone explain this? Does someone need a new sailboat?

If at $135/barrel gas was about 1.35/liter, shouldn't it be 45 cents/liter now?

I don't get it.

[polak]

You don't put oil in your car, you put Gasoline in your car.

There are many other factors that come into play in fuel prices than just oil prices. I haven't heard of any reasons for an increase but it's not outrageous to think that somewhere in the supply chain, something occured to raise prices.

[Slava]

Originally Posted by stampsx2

So why are gas prices going up 10 cents? Most stations are still at 75 cents but I'm seeing shell and petro canada at 85 cents.

Can anyone explain this? Does someone need a new sailboat?

If at $135/barrel gas was about 1.35/liter, shouldn't it be 45 cents/liter now?

I don't get it.

I totally agree with you. I just think that we've seen some decrease so everyone in general is more or less happy with that, so the rest of the savings is going to profit. I have no idea how else you would see that much of a decrease in oil prices, yet the corresponding drop in gasoline is so much less.

Of course it will be explained as "other factors" but bear in mind those factors are somewhat the same ones that are adding to the drop in oil prices to begin with.

[GGG]

Originally Posted by stampsx2

So why are gas prices going up 10 cents? Most stations are still at 75 cents but I'm seeing shell and petro canada at 85 cents.

Can anyone explain this? Does someone need a new sailboat?

If at $135/barrel gas was about 1.35/liter, shouldn't it be 45 cents/liter now?

I don't get it.

Your non-crude costs are relatively fixed. I think they are about 50 cents per liter. Fuel excise tax, refining cost, transport cost, gas station costs etc.

So at $135 per barrel you had about 85 cents per liter crude costs in gas at $45 a barrel you have about 30 cents a liter in crude costs. More or less.

[burn_this_city]

Diesel is even worse, $0.95 is cheapest in the city and its $1.10 still at some stations. I remember it used to be 50-60% the cost of gasoline and now its more.

[Dan02]

Originally Posted by burn_this_city

Diesel is even worse, $0.95 is cheapest in the city and its $1.10 still at some stations. I remember it used to be 50-60% the cost of gasoline and now its more.

Where is it.95??

[burn_this_city]

http://www.calgarygasprices.com/index.aspx?fuel=D

[Fire]

If it was up to city council they would be adding more taxes on fuel.

[Mr.Coffee]

I think gasoline pricing is a lot more complicated than just watching the price of oil fluctuate. I don't know really much detail about it, and hopefully someone with inside knowledge could speak on the subject but off the top of my head refinery capacity & chemical additives impact on price in addition to the cost of the base or source fuel.

[4X4]

Originally Posted by Mr.Coffee

I think gasoline pricing is a lot more complicated than just watching the price of oil fluctuate. I don't know really much detail about it, and hopefully someone with inside knowledge could speak on the subject but off the top of my head refinery capacity & chemical additives impact on price in addition to the cost of the base or source fuel.

I remember being about 16, working at a gas station, and a day or two before a long weekend, the price jumped from 44.9 to 46.9. This older guy drives up and when I asked if he'd like a fill, he just unleashed on me about the gas price and how I'm a crook, and that it should be illegal to raise the price and whatnot. I was just thinking "F*** man, I'm in high school. I don't own this gas station. I didn't set the price.".

20 years later, I still don't know who sets the price, but I sure wish I knew so I could have told that old son of a bitch where to go.

[cdware]

I think the gas stations look at each other price sign and see who got the cheapest shipment and that the price for the week.

[Bill Bumface]

Lumber prices are down 50%. Why isn't the average house price $250,000?? Real convenient, Big Lumber.

Rabble Rabble Rabble!

[Slava]

Originally Posted by hulkrogan

Lumber prices are down 50%. Why isn't the average house price $250,000?? Real convenient, Big Lumber.

Rabble Rabble Rabble!

I know it sounds like that's what everyone is doing here, and it seems silly. Fact is though that while on the news they were saying wholesale costs went up by $0.02/litre gas prices went up by as much as $0.08/litre yesterday. That $0.06/litre is basically arbitrary, and not based on supply/demand or anything else aside from the retailers wanting increased profits.