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

[Red]

Originally Posted by Slava

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.

That's what they said on global. The retailers are trying to recover some profits they've been losing since oil prices went down. Gouging at its finest.

[CliffFletcher]

I've never understood the obsession with gas prices. It costs what it costs. The price of groceries goes up 10 per cent in a couple years and you don't hear a peep about it.

[Red]

You would if it went 15% overnight like gas seems to.

[TurdFerguson]

I have never lost sleep, or a moments thought, over the price of gas. it's a necessary evil for me. I need it when i need it. i refuse to go out of my way to potentially save fractions of a cent or even a couple cents per liter trying to find the best deal. If i need to save $20/month there are 50 easier areas in my life to do so.

I recently drove out to Saskatoon with my parents for a funeral and my mother commented on every gas price she saw during that 10 hour round trip drive..."oh look, .03 cents more here...". I had this exact same conversation with here.

[burn_this_city]

Keep in mind places would have filled their tanks while the price continued to drop. They only make 3-5 cents a liter above the bulk gas prices so it doesn't take much for them to lose money on every liter pumped.

[Red]

I never go out of my way either, but it's simply a matter of principal. No one likes to be gauged.

And keep in mind that not everyone drives a Civic and some of us haul our kids all over town daily for various activities and easily have $700-$800 gas bills.

[bizaro86]

Actually, prices on grocery items change by way more than 15% all the time. Sometimes tomatoes are 2.99, sometimes 3.99, etc. The percentage change is way bigger, and even less connected to reality than gas prices.

Gas just happens to be pretty much the only thing where the price is in foot high letters visible from the road.

[Red]

Originally Posted by bizaro86

Actually, prices on grocery items change by way more than 15% all the time. Sometimes tomatoes are 2.99, sometimes 3.99, etc. The percentage change is way bigger, and even less connected to reality than gas prices.

Gas just happens to be pretty much the only thing where the price is in foot high letters visible from the road.

For one, tomatoes are seasonal and are dependent on many factors. Just as all fruits and veggies are. Weather, transport costs etc.

Box of cereal would be a better example. Or bread.

[GP_Matt]

Originally Posted by Slava

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.

Did you ever consider that they kept the prices as low as possible for as long as possible because their competitors were doing the same in a giant game of chicken. The minute one of them broke and raised his prices the others follow.

You guys should be more concerned about why gas is so much more expensive in Calgary vs Edmonton. It is always 6-10 cents a liter cheaper in Edmonton. Transport costs can't account for that.

[polak]

I can tell you that a lot of fuel distributors lost a lot of money when they had gasoline that they paid 90 to 100 cents per litre for, which all of the sudden in the span of a month was worth 60 cents, so maybe hold off before you string them up for taking advantage of a reason to raise their prices .08 when they are already ridiculously low.

Also, demand isn't increasing even though prices are lower and the weather has been good which a lot of companies forecasted for so they are probably trying to recover some early loses.

[jammies]

Originally Posted by Mr.Coffee

I think gasoline pricing is a lot more complicated than just watching the price of oil fluctuate.

Whatever you say, Professor. Or should I say: Mr. Gas Station Owner.

[ernie]

All I know is I certainly enjoyed filling up my "less than 5 miles to empty tank" Pathfinder the other day for $29 ($1.60/gallon).

[bossy22]

gas is still 73.9 in Cochrane, which is good for me, since my tank is 136 litres.

[Ozy_Flame]

IT Contractors;

Is anyone seeing an uptick in U.S. clients for projects? My company is seeing a bit of interest from south of the border due to the amazing dollar value they can take advantage of right now. I'm hoping this continues as a way to mitigate the freeze on projects in Canada, specifically in the O&G industry.

[fundmark19]

Originally Posted by bossy22

gas is still 73.9 in Cochrane, which is good for me, since my tank is 136 litres.

It has been nice Cochrane has been cheaper the past 4-5 months then in the city. I am not complaining at all since my truck also has 136 litre tank

[polak]

Just heard that a major fuel retailer is selling a very large amount of gas stations across Canada. Enough that the competition board may intervene.

That could be contributing to the uptick. It's the only thing I've heard of that might have any influence on this...

[DownhillGoat]

Originally Posted by fundmark19

It has been nice Cochrane has been cheaper the past 4-5 months then in the city.

Don't forget lots of places in the city do the unadvertised drop 3 cents off at the pump though.

But yes, it's usually been cheaper lately.

[Flash Walken]

Originally Posted by polak

Just heard that a major fuel retailer is selling a very large amount of gas stations across Canada. Enough that the competition board may intervene.

That could be contributing to the uptick. It's the only thing I've heard of that might have any influence on this...

FasGas?

[fundmark19]

Originally Posted by Flash Walken

FasGas?

Esso http://www.theglobeandmail.com/repor...ticle22692207/

[polak]

FasGas is owned by the company I work for. Esso is the one selling. Word around the office is that it's too many stations for one company to buy.

I just started in this job and industry this month so I'm just going off heresay.