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- MohawkWeekend
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Re: Gasoline prices, it hurts.
So who is making the money in Canada from $7.22 CAD/$5.24 USD a gallon gas? The government?
Re: Gasoline prices, it hurts.
MohawkWeekend wrote:So who is making the money in Canada from $7.22 CAD/$5.24 USD a gallon gas? The government?
A bit easy to only blame government
https://twitter.com/donwinslow/status/1 ... zCxg3PXAJw
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- MohawkWeekend
- Posts: 2781
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Re: Gasoline prices, it hurts.
I thought Canada had a lot of taxes on fuel - kinda like they do on cigarettes
And if they do, perhaps the US should follow their example.
And if they do, perhaps the US should follow their example.
Re: Gasoline prices, it hurts.
MohawkWeekend wrote:So who is making the money in Canada from $7.22 CAD/$5.24 USD a gallon gas? The government?
The oil companies - their profits have been skyrocketing, just as the grocery stores profits here have been as they keep pushing grocery prices beyond un-affordability.
In regards to taxes in Canada, other than the PST/GST or HST (depending on which Province you live in), taxes are fixed values so if you have a 10 cent per litre road tax, then that 10 cents remains 10 cents regardless of the price of gas.
On the plus side, we're down 60 cents CAD per litre from where we were two weeks ago and is now selling at 181.9 CAD per litre.
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- casinterest
- Posts: 16972
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Re: Gasoline prices, it hurts.
https://oilprice.com/Energy/Crude-Oil/W ... -Soar.html
Oil prices are falling as the Distilates are rising in inventory even with the crude being drawn out.
Prices are basically back where they were 1 year ago For oil and gasoline.
Should help a bit with inflation if the trend holds.
Oil prices are falling as the Distilates are rising in inventory even with the crude being drawn out.
Prices are basically back where they were 1 year ago For oil and gasoline.
Should help a bit with inflation if the trend holds.
Re: Gasoline prices, it hurts.
We're at about 153.9/L today - which is still about 20 cents a litre more than it normally would be at this time of year, but at least its almost a buck a litre cheaper than it was a couple of months ago.
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- MohawkWeekend
- Posts: 2781
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Re: Gasoline prices, it hurts.
Jet fuel in North America is now under $3 USD a gallon. Gasoline is selling for around $2.85 in Northeast Ohio with over $.50 cents of that being tax.
This tells me that refining margins are starting to collapse to just about a $1 USD per gallon for jet, diesel and gasoline. Not sure what break even is but if crude doesn't fall faster, some refineries are going to be losing money. And that makes marginally refineries more likely to close. Wouldn't that be wild if we'll need to subsidize those smaller refineries to keep them open? Kinda like the US is doing for old nuclear power plants. And right on time -
"California’s Newsom Proposes Limit on Oil Refining Margins". https://www.bloomberg.com/news/articles ... ng-margins
This tells me that refining margins are starting to collapse to just about a $1 USD per gallon for jet, diesel and gasoline. Not sure what break even is but if crude doesn't fall faster, some refineries are going to be losing money. And that makes marginally refineries more likely to close. Wouldn't that be wild if we'll need to subsidize those smaller refineries to keep them open? Kinda like the US is doing for old nuclear power plants. And right on time -
"California’s Newsom Proposes Limit on Oil Refining Margins". https://www.bloomberg.com/news/articles ... ng-margins
Re: Gasoline prices, it hurts.
MohawkWeekend wrote:Jet fuel in North America is now under $3 USD a gallon. Gasoline is selling for around $2.85 in Northeast Ohio with over $.50 cents of that being tax.
This tells me that refining margins are starting to collapse to just about a $1 USD per gallon for jet, diesel and gasoline. Not sure what break even is but if crude doesn't fall faster, some refineries are going to be losing money. And that makes marginally refineries more likely to close. Wouldn't that be wild if we'll need to subsidize those smaller refineries to keep them open? Kinda like the US is doing for old nuclear power plants. And right on time -
"California’s Newsom Proposes Limit on Oil Refining Margins". https://www.bloomberg.com/news/articles ... ng-margins
Wait... wasn't Newsom trying to ban new refineries, or was that just drilling in or off the coast of CA?
Re: Gasoline prices, it hurts.
ACDC8 wrote:MohawkWeekend wrote:So who is making the money in Canada from $7.22 CAD/$5.24 USD a gallon gas? The government?
The oil companies - their profits have been skyrocketing, just as the grocery stores profits here have been as they keep pushing grocery prices beyond un-affordability.
In regards to taxes in Canada, other than the PST/GST or HST (depending on which Province you live in), taxes are fixed values so if you have a 10 cent per litre road tax, then that 10 cents remains 10 cents regardless of the price of gas.
On the plus side, we're down 60 cents CAD per litre from where we were two weeks ago and is now selling at 181.9 CAD per litre.
In this case… I find blaming the oil companies just groundless. They have lost their butts for years on oil, which led to cyclical under-investment in pumping more oil. Everyone hates that oil is necessary and blocks capacity development whenever they can. They are complaining about supply constraints now?! Since when?!
Lastly, the evil of Putin’s invasion is not oil companies’ fault. If they had invested more in oil, Putin would be making less money than he is.
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- MohawkWeekend
- Posts: 2781
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Re: Gasoline prices, it hurts.
Lower pump prices will have some impact on the sales of EV's.
Interesting development is occurring in Switzerland -
"Switzerland considers electric-car bans during electricity shortages". https://www.drive.com.au/news/switzerla ... shortages/
And in the States , some nut (or terrorist) in North Carolina just turned the lights out in a county for a week with about 20 well placed rifle rounds through a substation.
Interesting development is occurring in Switzerland -
"Switzerland considers electric-car bans during electricity shortages". https://www.drive.com.au/news/switzerla ... shortages/
And in the States , some nut (or terrorist) in North Carolina just turned the lights out in a county for a week with about 20 well placed rifle rounds through a substation.