TLindenIsGod Posted March 13, 2015 Share Posted March 13, 2015 Hey guys and gals, I am just curious if anyone on here is in the oil business and could answer a question for me. We paid 1.40$ a liter when a barrel of oil was 145$, now a barrel is at average 50$ just about 1/3 of what it was, yet gas is 1.20$ a liter? Is it just a blatant screw job? Any input would be appreciated. Link to comment Share on other sites More sharing options...
thejazz97 Posted March 13, 2015 Share Posted March 13, 2015 It has to go through numerous businesses, trucking companies, etc. Each still wants their cut, and it might not be proportional to how much oil has gone down. I have it in my accounting or economics textbook somewhere. If I find it, I'll restate what I said in more detail. Link to comment Share on other sites More sharing options...
BanTSN Posted March 13, 2015 Share Posted March 13, 2015 What are you kidding? Oil companies would NEVER screw us. Link to comment Share on other sites More sharing options...
Grapefruits Posted March 13, 2015 Share Posted March 13, 2015 Hey guys and gals, I am just curious if anyone on here is in the oil business and could answer a question for me. We paid 1.40$ a liter when a barrel of oil was 145$, now a barrel is at average 50$ just about 1/3 of what it was, yet gas is 1.20$ a liter? Is it just a blatant screw job? Any input would be appreciated. Yes. Link to comment Share on other sites More sharing options...
bigbadcanucks Posted March 13, 2015 Share Posted March 13, 2015 Hey guys and gals, I am just curious if anyone on here is in the oil business and could answer a question for me. We paid 1.40$ a liter when a barrel of oil was 145$, now a barrel is at average 50$ just about 1/3 of what it was, yet gas is 1.20$ a liter? Is it just a blatant screw job? Any input would be appreciated. Part of the high pump prices has to do with refining capacity and supply chain issues. North American refining capacity is low...meaning the gasoline that you put in your car is in limited supply, even though there is a reported over supply of crude oil on the market. At the end of the day, it is a major screw job (with governments and oil companies being in cahoots) but that's an economic discussion that involves the upstream and downstream business units of all major oil companies, which is better reserved for another day. Gas prices in North America is still pretty cheap compared to what the consumers are paying in Europe and Asia. Do you know who else is screwing us consumers? Companies like Nestle and Coca Cola. Consumers pay a retail price of $0.99 to $1.59 for a bottle of 500 mL (or 0.5 L) water. That's way more expensive than the gas we put in our cars. Link to comment Share on other sites More sharing options...
thejazz97 Posted March 13, 2015 Share Posted March 13, 2015 Everyone's gotta make money. Unfortunately, they just happen to be making a ton from us. So yeah, even if crude has gone down, the refineries, trucking companies, and others take their cut off the top. And then there's taxes. And that's why gas is still high. Link to comment Share on other sites More sharing options...
Lychees Posted March 13, 2015 Share Posted March 13, 2015 Because they can cite "Civil unrest, war, and turmoil" and jack up the price of gas. But yes, royal screwjob Link to comment Share on other sites More sharing options...
Warhippy Posted March 13, 2015 Share Posted March 13, 2015 OK let's sit down here for a moment. in 2010/2011 when Oil spiked upwards of $142 per barrel. prices were around $1.28 in vancouver. The excuse at that point was that they HAD to pay the price per fuel of the cost per barrel at the time it was pulled from the ground. There was also this minor isue that minor issue and a fire at the diesel and fnav gas refinery in Sask that drove the price up. They also associated this with the majority reason prices of everything increased as transportation costs increased therefore everything else did Fast forward to now. We pay under $52 per barrel of oil. There is also a massive glut of oil in the US as the US and Canada are now both net exporters of oil. Refineries in the US are actually having to scale back due to said glut or surplus int eh US which by the end of March some analysts predict the US will run out of storage room. This is also the case in almost every OPEC country where they are running out of room to store oil at under or roughly $50 per barrel. Added Iran is expected to almost triple production and now new wells in Venezuela are online and the glut gets worse. Analysts expect oil to dive again and hover between $50 and $20 a barrrel for the next few months yet the price keeps climbing at the pumps And THIS is the excuse they give and I sh*t you not. "Houston had a severe cold snap which hampered production as well there is a strike that has affected 2 refineries in the US which has caused the price of fuel to spike. Now. If you follow the math of the government report on fuel prices from 2010/2011 and factor in all associated tariffs and taxes we SHOULD be paying less by their own reasoning than we did in 2010 correct? Wrong. Oil companies have been making excessive and exorbitant profits since the mid 2000's and will NOT let that stop. governments are basically beholden to big oil int he west for taxes and development costs the same way junkies are chemists for their fix. Bottom line is unless we literally storm Ottawa and demand change, this is going to end no differently than the issue of the robber barons in and around new york and wall street in the late 1800's early 1900's in which the people the city and the government were literally forced toa ct as their very way of life was being threatened for profit. I will be mocked and possibly lambasted by people with wikipedia links for sure in this thread for these statements. But these excuses for high prices are the EXACT reasons given by both government and industry analysts as well as big oil and fuel distributors themselves. Bottom line is you need to drive and there's not a god damned thing you can do about the prices because the governments doesn't care and the oil companies have you over a $52 barrel Link to comment Share on other sites More sharing options...
thejazz97 Posted March 13, 2015 Share Posted March 13, 2015 Well, we've been fine here in Saskatchewan. We got down to like 0.85/Litre Link to comment Share on other sites More sharing options...
Fox Mulder Posted March 13, 2015 Share Posted March 13, 2015 Thanks Obama Link to comment Share on other sites More sharing options...
2SKATES1STICK Posted March 13, 2015 Share Posted March 13, 2015 petro dollar at work Link to comment Share on other sites More sharing options...
Pickly Posted March 13, 2015 Share Posted March 13, 2015 Unaffordable housing, expensive gas, rising cost of food, yet the only thing consistent or not going up are peoples wages. Is what it is. Gotta adapt. Link to comment Share on other sites More sharing options...
woot Posted March 13, 2015 Share Posted March 13, 2015 Hey guys and gals, I am just curious if anyone on here is in the oil business and could answer a question for me. We paid 1.40$ a liter when a barrel of oil was 145$, now a barrel is at average 50$ just about 1/3 of what it was, yet gas is 1.20$ a liter? Is it just a blatant screw job? Any input would be appreciated. In Vancouver there are about $0.42 in taxes per litre of fuel. This includes the carbon taxes, the Translink tax, but not GST, which unlike in most places, is included in the display price. So before tax, gas was $0.91 when oil was expensive, and is $0.75 now. That still seems like a small change, and it is (less than 20%,) but the change in the price the fueling stations charge is larger than it seems when you include all of the taxes. It's also important to remember all the other costs of providing gasoline don't scale with the price of crude oil - refining is still expensive, transportation of oil and gas is still expensive, rent on the gas station property is still expensive, wages are still expensive, etc. Link to comment Share on other sites More sharing options...
taxi Posted March 13, 2015 Share Posted March 13, 2015 Taxes.. like fifty cents per litre is taxes. Link to comment Share on other sites More sharing options...
KFBR392 Posted March 13, 2015 Share Posted March 13, 2015 Because that country has a civil war over there... or those guys somewhere are on strike for a weekend. Sounds legit. Link to comment Share on other sites More sharing options...
Ronalds.Kenins41 Posted March 13, 2015 Share Posted March 13, 2015 At the people saying the companies are out to get us. Sorry but that's not why it's so high. In Vancouver we have one of the highest gas taxes in Canada hence the higher gas prices. I apologize for the messy writing, I am not an expert at using my mouse as pen to write. http://www.sbr.gov.bc.ca/documents_library/bulletins/mft-ct_005.pdf Link to comment Share on other sites More sharing options...
Violator Posted March 13, 2015 Share Posted March 13, 2015 Do you know who else is screwing us consumers? Companies like Nestle and Coca Cola. Consumers pay a retail price of $0.99 to $1.59 for a bottle of 500 mL (or 0.5 L) water. That's way more expensive than the gas we put in our cars. Stop buying water pre-chilled at the gas station then you can buy it for 3.00$ a case at most retail stores its like going to a cold beer and wine store in B.C. the chilled beer costs more than the government places. Link to comment Share on other sites More sharing options...
Mr.DirtyDangles Posted March 13, 2015 Share Posted March 13, 2015 Bottom line is you need to drive and there's not a god damned thing you can do about the prices because the governments doesn't care and the oil companies have you over a $52 barrel Some Vaseline would be nice Link to comment Share on other sites More sharing options...
Mr.DirtyDangles Posted March 13, 2015 Share Posted March 13, 2015 Stop buying water pre-chilled at the gas station then you can buy it for 3.00$ a case at most retail stores its like going to a cold beer and wine store in B.C. the chilled beer costs more than the government places. How bout stop buying water in plastic bottles period. It is not even water it is pretty much dead and acidic. Plastic bottles have polluted the worlds oceans at a unfathomable rate. Ocean wild life will take centuries maybe millennia to purge the toxins we have dumped into them Link to comment Share on other sites More sharing options...
Lancaster Posted March 13, 2015 Share Posted March 13, 2015 They always have a reason to jack up gas prices.... - conflict overseas - weak Canadian dollar - strong Canadian dollar - hot weather / cold weather - lack of supply - lack of demand - oil prices - refinery issues - demand from China - OPEC actions - taxes Pretty much however they want to spin it. Link to comment Share on other sites More sharing options...
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