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Metro gas prices on the rise again, expected to keep climbing


Sophomore Jinx

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58 minutes ago, Wolfgang Durst said:

that's the price we all have to pay around the globe for the war in Ukraine - sorry for Putin's war - . Canadians are freaking out because of the steep increase in prices but hey what should we do in Germany where the gas prices for heating quadrupled. Wondering what the Canadians would do in case of a quadrupling in prices. Jumping from one of their many bridges in full despair? Only one possibility out of many.

UK has brexit to blame, Germany has their own government to blame for trusting Putin. One of the few things Trump was actually correct in saying was that  ‘Germany was too reliant on Russia for their energy’. I think it was a speech at the UN but I could be mistaken; when trump said this the German politicians laughed, yet here we are. They weren’t diversified and it is now costing them and their citizens. Though with that said, all countries in Europe are affected to some degree. 
 

We are lucky in BC to have plenty of hydro power available.

Edited by I.Am.Ironman
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3 hours ago, I.Am.Ironman said:

UK has brexit to blame, Germany has their own government to blame for trusting Putin. One of the few things Trump was actually correct in saying was that  ‘Germany was too reliant on Russia for their energy’. I think it was a speech at the UN but I could be mistaken; when trump said this the German politicians laughed, yet here we are. They weren’t diversified and it is now costing them and their citizens. Though with that said, all countries in Europe are affected to some degree. 
 

We are lucky in BC to have plenty of hydro power available.

It’s not that simple, yea Germany was over reliant but that was a political move - what Germany was trying to do was bring Russian closer to Europe via trade and commercial ties. It’s a laudable aim but it didn’t work.

 

the whole of Europe is hurting at the moment because of the international market pricing. UK actually uses very very little Russian gas.  However the impact on the economy has been massive as the wholesale cost has gone through the roof. It doesn’t matter that we have a large offshore industry because it’s not public owned we are susceptible to volatile pricing. 
 

even France who has a large amount of their energy makeup via nuclear has forced EDF to fix pricing and I believe there is a battle now between EDF and the French government over the cost of this to the tune of 8 billion. 
 

it is a price we have to pay but if you are somewhat shielded from it in NA then you will not know the scale of hurt that is going on with European consumers. In the UK we are about to be plunged into recession and have a serious high risk of Stagflation. Brexit is a part of it but when you look across the Eurozone it’s made it worse in the UK but it’s not the reason 

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5 hours ago, nuckin_futz said:

It works in both directions. Sometimes crude prices move way quicker than gas prices. At the start of the Ukraine invasion crude prices rocketed 37% in a week. Gasoline never rose 37% in a single week, not even close.

 

The discrepancy between how fast crude and gasoline prices rise and fall is referred to as "rockets and feathers". I warn you if you intend to read up on it it's boring as Hell.

 

 

There's enough refining capacity to satisfy current demand. When was the last time you heard of a gasoline shortage? Or for that matter any other refined products such as jet fuel, heating oil, kerosene, diesel?

 

Also I looked up the author of this article. I am pretty sure he did not have this prior knowledge. He has no specific expertise in this field.

lol you really shouldnt post about something you have little knowledge about. When have you heard of a gasoline shortage? Well when the price of something raises, it's supply and demand in the works, or the "shortage" you are saying. Yes, there is a refinery capacity problem in North America, it's been widely publicated. 

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8 hours ago, I.Am.Ironman said:

UK has brexit to blame, Germany has their own government to blame for trusting Putin. One of the few things Trump was actually correct in saying was that  ‘Germany was too reliant on Russia for their energy’. I think it was a speech at the UN but I could be mistaken; when trump said this the German politicians laughed, yet here we are. They weren’t diversified and it is now costing them and their citizens. Though with that said, all countries in Europe are affected to some degree. 
 

We are lucky in BC to have plenty of hydro power available.

Germany, likely wasn't taking Drumpf's empowering of Putin into account.

 

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34 minutes ago, Ghostsof1915 said:

The sooner they make more affordable Electric Cars the better.

This- and also- why do these electric cars all need to be so big.? All cars for that matter?

Most driving is just a few miles of commuting, no need for 4 door, 6 seat vehicles.

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2 hours ago, Drakrami said:

lol you really shouldnt post about something you have little knowledge about. When have you heard of a gasoline shortage? Well when the price of something raises, it's supply and demand in the works, or the "shortage" you are saying. Yes, there is a refinery capacity problem in North America, it's been widely publicated. 

I'm fairly certain I understand how supply and demand works. I've been making a living gauging supply vs demand for 24 years. Rising prices do not mean a shortage. A shortage is when something cannot be obtained in sufficient amounts. Are people driving all over the city looking for gasoline? I'm pretty sure it's readily available even though the price has risen.

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9 minutes ago, 6of1_halfdozenofother said:

My guess - trying to corner the market of "all things for all people".  :ph34r:

 

Most people don't have assigned-purpose vehicles (that would be prohibitively expensive owning so many vehicles), so for owners with kids and pets and a "vibrant" lifestyle, even though the vehicle's primary use is for the rat race, they want the flexibility of transporting the dog to the vet, or taking the kids to hockey practice, or carrying their canoes and kayaks to the local lake, or taking it off-road where there's no cellphone signal and nobody to save them when they fall off a cliff.  :bigblush:

Yea all in....

 

I don't "need" my lifted truck I could walk most places.

 

It is ironic the people that give me a hard time owning a gas guzzler ask me to help them tow, move, go in the bush, or do a dump run.

 

You don't "need" a truck, but they sure come in handy.

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9 hours ago, nuckin_futz said:

It works in both directions. Sometimes crude prices move way quicker than gas prices. At the start of the Ukraine invasion crude prices rocketed 37% in a week. Gasoline never rose 37% in a single week, not even close.

 

The discrepancy between how fast crude and gasoline prices rise and fall is referred to as "rockets and feathers". I warn you if you intend to read up on it it's boring as Hell.

 

 

There's enough refining capacity to satisfy current demand. When was the last time you heard of a gasoline shortage? Or for that matter any other refined products such as jet fuel, heating oil, kerosene, diesel?

 

Also I looked up the author of this article. I am pretty sure he did not have this prior knowledge. He has no specific expertise in this field.

Dude

 

The price at the pump in penticton jumped from $1.34.9 to $1.79.9 to $2.15.9 in 2 weeks.

 

Tell me the price of gas didn't jump insanely.  While it may not have hit that 37% metric in one shot it sure was close.

 

No matter what people say right now, right now the prices are not reflective of the actual market price or refining costs.

 

If they were they'd have dropped by now to more than what they did.

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43 minutes ago, Warhippy said:

Dude

 

The price at the pump in penticton jumped from $1.34.9 to $1.79.9 to $2.15.9 in 2 weeks.

 

Tell me the price of gas didn't jump insanely.  While it may not have hit that 37% metric in one shot it sure was close.

 

No matter what people say right now, right now the prices are not reflective of the actual market price or refining costs.

 

If they were they'd have dropped by now to more than what they did.

I cannot seem to find daily or weekly historical price data. The closest I could find was monthly data for Vancouver (regular unleaded). Not sure if this is the price on the last day of the month or an average for the month. .....

 

Jan 170.5

Feb 177.1

Mar 198.3

Apr 198.5

May 220.1

Jun  225.4

Jul  202.4

Aug 193.2

 

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101&pickMembers[0]=2.2&cubeTimeFrame.startMonth=01&cubeTimeFrame.startYear=2022&cubeTimeFrame.endMonth=08&cubeTimeFrame.endYear=2022&referencePeriods=20220101%2C20220801

 

 

Granted this is not Pentiction data but the price increases you're recalling are not reflected in the data. You wouldn't think data like this would be hard to find but I couldn't find daily or even weekly pricing data. You're usually pretty good researching things. Perhaps you can locate it. I'd be curious to see it.

 

 

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2 minutes ago, nuckin_futz said:

Granted this is not Pentiction data but the price increases you're recalling are not reflected in the data. You wouldn't think data like this would be hard to find but I couldn't find daily or even weekly pricing data. You're usually pretty good researching things. Perhaps you can locate it. I'd be curious to see it.

I tried to find out just how much extra revenue the governments got, from the taxes on the higher priced gas; but struck out as well.

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1 minute ago, gurn said:

I tried to find out just how much extra revenue the governments got, from the taxes on the higher priced gas; but struck out as well.

Pretty certain the gasoline tax is a fixed price per litre. So regardless of price going up or down they collect the same amount per litre sold. Makes sense as they can't have that particular tax base bouncing around like crazy if they want to plan a budget.

 

What would affect their take would be if more or less litres were sold. An argument can be made that as prices rise people consume less total litres. So the government revenues would decline during that period.

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31 minutes ago, nuckin_futz said:

I cannot seem to find daily or weekly historical price data. The closest I could find was monthly data for Vancouver (regular unleaded). Not sure if this is the price on the last day of the month or an average for the month. .....

 

Jan 170.5

Feb 177.1

Mar 198.3

Apr 198.5

May 220.1

Jun  225.4

Jul  202.4

Aug 193.2

 

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101&pickMembers[0]=2.2&cubeTimeFrame.startMonth=01&cubeTimeFrame.startYear=2022&cubeTimeFrame.endMonth=08&cubeTimeFrame.endYear=2022&referencePeriods=20220101%2C20220801

 

 

Granted this is not Pentiction data but the price increases you're recalling are not reflected in the data. You wouldn't think data like this would be hard to find but I couldn't find daily or even weekly pricing data. You're usually pretty good researching things. Perhaps you can locate it. I'd be curious to see it.

 

 

I'll try to find it after I get home tonight.

 

I'll admit freely that this issue and the inflation issue have me responding on an emotional level.  Irrational to a fault.

 

But it's hard not to be upset about this stuff lately 

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3 hours ago, 6of1_halfdozenofother said:

I once thought about owning a truck, but when I was out shopping for one, I was quickly steered away from it by a kind-hearted sales rep.  He pointed out I didn't have the need for it as I wasn't working in the trades, I wasn't planning on taking it off road, I didn't have friends who would constantly ask me to help them move :ph34r:, and they were definitely not friendly for fuel consumption.  He basically told me that it seemed to him the only reason why I was wanting one was the toy factor, and he felt there were much better toys that I could purchase for the money (and not necessarily vehicles).

 

He wasn't entirely right, but he wasn't entirely wrong either.  I did do some soul searching afterwards and determined that getting a truck was a bit due to the factor of having a hot chick as my date hanging off my arm - but knowing I wouldn't be able to marry her.  There was no "business case" or rationale for me to own one.  At least, not at that point.

 

So I settled for a car with all-wheel drive instead.  :bigblush:

 

Incidentally, I'm still considering getting a truck at some point.  Just might not be brand new, and might not be for any other purpose than to have one sit in my garage to be able to say that I did own one.  :P

(and because mid-life crisis)

Totally.

 

I've only ever owned a truck. Do I "need" one? No.

 

Does it come in handy? Absolutely!

 

So handy in the bush and doing work in the yard. Now I get it, get used for yard work, but you only love once!

Edited by Chris12345
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13 minutes ago, Chris12345 said:

Totally.

 

I've only ever owned a truck. Do I "need" one? No.

 

Does it come in handy? Absolutely!

 

So handy in the bush and doing work in the yard. Now I get it, get used for yard work, but you only love once!

I love my truck, for all the reasons people have posted here, plus I like sitting up high. While I pay a lot more for gas, I don't waste money in other areas.... i.e., like a friend who drives a Honda Civic, but spends a couple hun on Starbucks every month; So, it evens out in away, except I can throw bikes, couches, and a ping pong table in my vehicle, and he can't.

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1 minute ago, Sophomore Jinx said:

I love my truck, for all the reasons people have posted here, plus I like sitting up high. While I pay a lot more for gas, I don't waste money in other areas.... i.e., like a friend who drives a Honda Civic, but spends a couple hun on Starbucks every month; So, it evens out in away, except I can throw bikes, couches, and a ping pong table in my vehicle, and he can't.

Well I've always said, you need a poison pill or life ain't worth living.

 

So sure,trucks, whisky and beaches for me! Pick something! Someone's treasure is another's waste!

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