WTF is going on with gas prices?

[MegaMx]

Oil is below $40 and we're paying .95? Last time oil was this low (one month ago) we were paying .74. The time before that when oil was this low were paying just over .50.

Is it just me or are gas stations picking up gas prices regardless of crude oil prices?

http://vancouvergasprices.com/Price_...state=BC&c=can

[!Yaminashi]

Expect it to just keep getting higher the closer we get to summer

[skyxx]

OPEC reduced the production output therefore increasing the market price at retail stations.

[djm]

[MegaMx]

Any of you guys actually taken econ or have any idea what you're talking about... thought so.. what you both said makes utterly no sense and actually gives me a bit of a headache.

Retailers buy from the market. The market uses supply and demand. Cutting supply raises costs by shifting the supply line to the left and hance the equalibrium is at a higher point. They cut supply (which moved the line to the left) but the demand dropped drastically moving the demand line also to the left. Demand dropped more than supply hence the price of crude fell. The oil companies are buying gas for dirt cheap yet charging everyone a premium. They cut production but that didn't stop a decrease in price, it just reduced it.

[Alphamale]

^Capitalism? Arbitrage?

They just love de monies.

[alex.w *//]

if oil suddenly jumps to $70-$80/barrel

gas would probably be $1.20 the next day

[MegaMx]

Originally Posted by alex.w *//

if oil suddenly jumps to $70-$80/barrel

gas would probably be $1.20 the next day

At the existing algorithm if crude went back to where it was last July ($150), theoretically our gas should be over $2.50

[JHatta]

this is not a linear function fool.

[Carl Johnson]

oil companies prob figure some people still gonna drive even if the gas price is where is it right now or go up higher (inelastic demand), and of course our government is getting so much revenue out of it anyways, so they aint gonna do jack shit about it

[B4N M3]

Actually, what it is commonly attributed to is that gas stations buy gas a month or so ahead...so the price you're seeing now should technically reflect the price of crude at the beginning/middle of December...with that said, usually when the price of crude jumps gas stations say "eff it" and raise the price anyways...despite the fact that they're still selling gas they bought cheap

[shenmecar]

no surprise they gas stations get so much profit

[Carl Johnson]

yea if you look at the crude price from Dec to right now, it has being on a pretty constant decline with overstock of supplies. the fact that we canadians always gets screwed with higher gas price is nothing new. back in the summer, we were paying $1.50/liter to convert that to gallon that's almost $5.77/gallon. and people were screwing their lungs out in the states whom were paying about $4/gallon.

and yes i do understand canada and us are two different countries, but still that fact we pay so much higher does raise some questions.

[danned]

stpuid price
lower it down ......rapers

[lilaznviper]

it takes a second for them to jack up the price but takes them years to lower it down

[Dr-Vn]

Originally Posted by lilaznviper

it takes a second for them to jack up the price but takes them years to lower it down

That's the way how businesses are run.
Look at fuel surcharge shit on the airline tickets. Same goes for the airport improvement fee.

[B-DiZzLe]

Originally Posted by djm

Your graph is wrong, there's an "X" on it.

[hotjoint]

nothing we can do about it. Americans get it good when it comes to gas prices

[Mugen EvOlutioN]

ya i was waiting for someone to make a thread about this gay shit


it was good for a short while around 70 cents, than it raised each day i was like wtf is this shit


funny how toronto is right beside us with a bigger population and they are paying like 10-15 cents cheaper than us

wtf

[hotjoint]

Originally Posted by Mugen EvOlutioN

ya i was waiting for someone to make a thread about this gay shit


it was good for a short while around 70 cents, than it raised each day i was like wtf is this shit


funny how toronto is right beside us with a bigger population and they are paying like 10-15 cents cheaper than us

wtf

I heard its because of translink that we pay the extra 10 - 15 cents not to mention the stupid carbon tax

[91civicZC]

During the election, don’t I remember the government saying they were going to look at some type of regulation of gas pricing? When the fuck can we jump on that????

Total BS. However, I am crossing my fingers it starts declining. I am driving less again, and if other are as well, hopefully they get the message.

[hotjoint]

Originally Posted by 91civicZC

During the election, don’t I remember the government saying they were going to look at some type of regulation of gas pricing? When the fuck can we jump on that????

Total BS. However, I am crossing my fingers it starts declining. I am driving less again, and if other are as well, hopefully they get the message.

I don't remember that BUT you know how the government is they'll say whatever to get elected but once they're in they totally "forget" what they said

[thumper]

didn't they just drop the 3.5 cent off advertised price thing 1-2 weeks back? coincidence?

[!Yaminashi]

Originally Posted by 91civicZC

During the election, don’t I remember the government saying they were going to look at some type of regulation of gas pricing? When the fuck can we jump on that????

Uh, you didnt take that seriously did you?

[Gh0stRider]

they better bring back the 3.5 cent discount