Canadian gas prices jump by up to 34c/gal overnight; 'doesn't make sense'
Source: CBC News
Drivers looking for a good reason for major gasoline price jumps across Canada overnight will be left lacking, as the usual seasonal influences don't add up to those types of increases.
Montrealers woke up to eye-popping price hikes of more than nine cents per litre Wednesday morning. At an average price of $1.53, the city now has the dubious distinction of having the highest gas prices in Canada, according to website TomorrowsGasPriceToday.com.
... "It doesn't make sense," says Dan McTeague, former MP and founder of the gas pricing website mentioned above. "These prices are not sustainable for the middle class or anybody else."
... "Price hikes? We call that spring," quips Phil Flynn, the senior market analyst at energy research firm Price Futures Group in Chicago.
Read more: http://www.cbc.ca/news/business/gas-price-jump-doesn-t-make-sense-1.2619006
= new reply since forum marked as read
We've drilled, baby, we've drilled. We're now drilling more in this country than we have in nearly a decade.
We've given tax breaks and other wasteful incentives to oil companies to try and ease our pain at the pump. We now give about $4 billion in tax breaks to the oil and gas industry each and every year.
We've listened to naysayers tell us that pursuing clean energy alternatives to oil and gas is a waste of our time and money. Now, the United States is lagging much of the rest of the world on clean energy.
And what have we gotten in return?
Gas prices that are hitting new highs, an economy held hostage to global instability and an oil industry monopoly on our transportation system.
There's nothing we can do to control the price of gas in America, because oil prices are set on a global marketplace. As we've seen, more drilling certainly isn't the answer, because that's done nothing to reduce prices at the pump. The only thing more drilling has done is increase profits for oil companies – to the tune of $137 billion last year alone, a 75 percent rise since the year before. Who else got a 75 percent raise in the middle of a recession?
http://www.nrdc.org/energy/gasprices/?gclid=CO3futCf970CFecWMgodBDMAQw
So what is the excuse now?
It's the usual - Crude prices are up and the refineries are converting. I call bullshit on the refineries are converting line, they know every year that hey are going to convert, why don't they build inventory? WHY you ask? because that would eliminate the twice a year spike in their profits.
