Oil/Gas price.

[limeyangler]

Nice to see cheaper prices at the pumps.A barrel of oil is trading at half the cost than it was a year ago, gas is cheaper, but not half price. Wont be long before they have to claw back the lost revenue from somewhere.

Edited December 16, 2014 by limeyangler

[Roy]

I'm not too worried Simon. I have an account with $10,000. in it, and that account earns me $0.07 (7 cents) a month. I can get a free lure every 10 years! wooooooohoooooooooo!

 

 

Edited to add: But I understand your comment and yes, you're right, there will be consequences.

[Woodsman]

Nice to see cheaper prices at the pumps.A barrel of oil is trading at half the cost than it was a year ago, gas is cheaper, but not half price.

And it will never be as the cost of crude is only one factor. Costs of refining,transportation and sales have not dropped in half.

That being said I'm not saying we are not being shafted just theres more to the equation than the cost of crude.

[G.mech]

And it will never be as the cost of crude is only one factor. Costs of refining,transportation and sales have not dropped in half.

That being said I'm not saying we are not being shafted just theres more to the equation than the cost of crude.

Not to mention, the taxes....another huge factor in the price at the pumps and most are on a fixed cost per litre basis and not a percentage. If the cost of the gas was zero we'd still be paying almost $0.30/litre at the pumps.....

[Raf]

why hasn't the price of diesel moved much at all, esp when regular has dropped by 20+ cents?

[limeyangler]

Not to mention, the taxes....another huge factor in the price at the pumps and most are on a fixed cost per litre basis and not a percentage. If the cost of the gas was zero we'd still be paying almost $0.30/litre at the pumps.....

and inflation.

[limeyangler]

why hasn't the price of diesel moved much at all, esp when regular has dropped by 20+ cents?

 

Its a scam for sure. Take the Gas prices here. Our gas ships with a Manitoba company. So west to east. So usually you see steady increase in the price the further from Winnipeg you go, which would make sense since it costs more to ship further, prices top out at Terrace Bay on Superior. So how comes the price in Kenora which is west of us is staying a stubborn 7c - 10cents higher.

[LostAnotherOne]

My TFSA is taking a hit and I'm thinking with gas being down it has something to do with it.

[BillM]

why hasn't the price of diesel moved much at all, esp when regular has dropped by 20+ cents?

 

Because it's winter and the demand is high for home heating oil (which is diesel)

 

If this happened in June/July, diesel would be lower then the price of regular right now.

Edited December 16, 2014 by BillM

[bigbuck]

Gas is a by product of refining. The refiners do not make a lot of money off it. Diesel and kerosene however, are the major drivers of their profits. Come spring, oil will drop significantly Asthe demand for heating oil eases. The long term forecasts are showing a relatively warm January with daytime highs around -5 or so, that will drive the perceived and real demand for heating oil down. Oil has had its day in the commodity markets, as well as other resources, time for the next hot thing for 10 years. That my friends, I cannot tell you as my crystal ball is cracked and the future is cloudy.....

[Raf]

 

Because it's winter and the demand is high for home heating oil (which is diesel)

 

If this happened in June/July, diesel would be lower then the price of regular right now.

Bill I think that's bunk (sorry Drew).

 

Yes, diesel is cheaper than gas in the summer and more than gas in winter for the reason above, but you're looking at maybe 5 cents either way. If gas is 97 / liter, I would expect diesel to be around 1.00 - 1.05 right now yet it's at 1.16 - 1.18 around me.

 

We've been told that the gas drop is due to low demand for oil, so which is it? high demand for heating oil or low demand for oil? LOL

[mattybculp]

I was going to start a topic this morning asking how much you guys/gals were paying at the pump, not to hi-jack the op, but I filled up on the reserve today for 90.7 c/L. I know its a far cry from where it should be but its saving me about 12 bucks every time I fill up, which is nice for a change. Its crazy to know how quickly it will jump back to $1.30/L

[Fish Farmer]

Funny when the price of gas was going up they told us it was because of oil prices.

Gets me how we are brain washed Litre and Gallons. $1.00 Litre, $1.00 Gallon

And they got us thinking were getting a deal, the 99 cent thing.

Did I ever tell you guys I have 1 lure that is guaranteed to catch fish every time it hits the water.

[crappieperchhunter]

After driving diesel golfs for 27 years I gave up a long time ago trying to figure out how they determine diesel pricing. I believe that whoever is in charge throws darts at a dartboard and thats the price we get I also remember when it was always 5-10 cents a litre cheaper then regular.

 

Now that I no longer have a diesel vehicle I have come to realize that regular gas pricing is determined the same way. Just somebody different throwing the darts.

 

BTW 89.9 at Costco in Oshawa this morning. I love the guy who's been throwing darts lately...but somehow I think his days are numbered.

Edited December 16, 2014 by crappieperchhunter

[BillM]

Bill I think that's bunk (sorry Drew).

 

Yes, diesel is cheaper than gas in the summer and more than gas in winter for the reason above, but you're looking at maybe 5 cents either way. If gas is 97 / liter, I would expect diesel to be around 1.00 - 1.05 right now yet it's at 1.16 - 1.18 around me.

 

We've been told that the gas drop is due to low demand for oil, so which is it? high demand for heating oil or low demand for oil? LOL

 

 

I'm getting diesel for about $1.15 or so, which isn't far off the mark it normally is compared to gas in the winter (Say gas is $0.99 right now).. It sure beats it being $1.45 like it was last winter.

[manitoubass2]

im still paying high prices. you guys are lucky. i think its 1.23 right now.

 

good thing is with our recent move its a 20 minute drive to the states.

 

what a difference!

 

70 to fill here 38 to fill there

[outllaw]

yes the bubble will burst.

[manitoubass2]

yep OPEC has us all on a string.

 

I worked in the oil industry and I know for a fact, oil is profitable at $14 a barrel.

[limeyangler]

im still paying high prices. you guys are lucky. i think its 1.23 right now.

 

good thing is with our recent move its a 20 minute drive to the states.

 

what a difference!

 

70 to fill here 38 to fill there

 

With the exchange rate factored in it is up to C$2.37 a litre in London, England where I grew up.

Edited December 16, 2014 by limeyangler

[manitoubass2]

 

With the exchange rate factored in it is up to C$2.37 a litre in London, England where I grew up.

ill take the train lol

 

thats insane

 

10 years ago when I worked up in ear falls its was 1.49 I think? .87 in fort.

 

I wonder what gas in ear falls is at now?

Edited December 16, 2014 by manitoubass2

[outllaw]

sad consumers are pawns in bringing a countrys economy in Russia down.. the powers that be control every string on the puppets. I just cant imagine when this passes a price of 135 a litre...

[limeyangler]

sad consumers are pawns in bringing a countrys economy in Russia down.. the powers that be control every string on the puppets. I just cant imagine when this passes a price of 135 a litre...

 

Its working though, if that is what they are doing, The Russian Rouble is in free fall, the central bank has just intervened and raised interest rates a full 7 points in one go!!! from around 10% to 17%….imagine your mortgage at 17%!

 

Roy would be laughing with his $10,000 in the bank though….LOLOL.

[DRIFTER_016]

We are now paying the lowest price for gas I have seen since I moved here in 2006.

Currently our price for regular unleaded gas is $1.189/L.

Having said that in October on my way back from Alaska I paid the most I have ever paid for gas.

This was in the Northern Rockies in BC by Muncho Lake.

The price? A hefty $1.997/L!!!!!

[gaspumper]

Today gas in Belleville is 0.87.9 a liter

[Gerritt]

Today gas in Belleville is 0.87.9 a liter

What station?