Topic: Gas prices rise 8 cents not 8%

[wing]

   In Ottawa every gas station is posted at 102.5 today rising 8 cents not 8% (although it is close to 8%...)

Also according to ottawagasprices.com every station in the city is at exactly 102.5  I wonder how that happened....

[Careener]

[initial_D]

Last fill up here in Oil Sand County was 82.9 cents for 89, 89.9 for 91.

Over $1 a liter, approaching Pure Spring Bottled Water price. 

[tpl]

  In Ottawa every gas station is posted at 102.5 today rising 8 cents not 8% (although it is close to 8%...)

Also according to ottawagasprices.com every station in the city is at exactly 102.5  I wonder how that happened....

A combination of the tax and our $ dropping below 94c which would affect the spot price in $Cdn... and that ripples through everything with the HST just being the last straw.

We should be glad that the Loonie isn't at 75cents.

[nifty6]

  In Ottawa every gas station is posted at 102.5 today rising 8 cents not 8% (although it is close to 8%...)

Also according to ottawagasprices.com every station in the city is at exactly 102.5  I wonder how that happened....

A combination of the tax and our $ dropping below 94c which would affect the spot price in $Cdn... and that ripples through everything with the HST just being the last straw.

We should be glad that the Loonie isn't at 75cents.

you are right, if the loonie was at .75 cents a liter would probably be at about $1.25 or more

[stodge]

Odd how the price increase was on Canada Day. Just pure coincidence I say (sarcastically).

[CatsEye68]

Odd too how those "market forces" result in every single retailer having the same price. Sounds like collusion to me.

[stodge]

Odd too how those "market forces" result in every single retailer having the same price. Sounds like collusion to me.

Of course the government is rushing to our rescue to rid us of this illegal activity.

[tpl]

Odd how the price increase was on Canada Day. Just pure coincidence I say (sarcastically).

Well that accounts for the 8% or 8cents as the HST starts today.

[tpl]

Odd too how those "market forces" result in every single retailer having the same price. Sounds like collusion to me.

A lot of those "market forces"  are caused by young guys ( who probably make a lot of money and huge bonuses) trading in gasoline futures on NYMEX. 

In the unlikely event that we built some new refineries/upgraders  in Canada then we could be market makers with our oil sands oil rather than market takers from America. As it is we ship most of the synthetic oil down to the USA to be refined and are then subject to their market making.

[Snowman]

I wish it would go to $3/l so everybody would STFU.

[mmret]

Odd too how those "market forces" result in every single retailer having the same price. Sounds like collusion to me.

A lot of those "market forces"  are caused by young guys ( who probably make a lot of money and huge bonuses) trading in gasoline futures on NYMEX. 

That would be me except the lot of money part.

[99 Silver]

We can thank our tax and spend Boy Scout Dalton for putting it to us again.

Ontario already collects 14.7 cents per litre on gasoline, but it was PST exempt until July 1st.  BC was the same and elected to rebate their portion of the HST at the point of sale on gasoline.  Ontario on the other hand just took the money.

[RunsinLight]

One benefit, streamlining a process is never a bad thing.

[johngenx]

I wish it would go to $3/l so everybody would STFU.

With ya there, and do it tomorrow with a $2/L tax so at least the public keeps the dough from gasoline consumption.

[tpl]

One benefit, streamlining a process is never a bad thing.

Indeed... but the province did not streamline anything, they still collect the 14.7 cents.

[Erik]

So the province charge 8% on top of the 14.7 cents. Nice.

[tpl]

So the province charge 8% on top of the 14.7 cents. Nice.

Well I guess so.  What actually happens is that the Federal Government charges 13% instead of 5% and then returns 8% worth to the province.  This provides a good way for the province to weasel out of any questions by saying that its a federal tax and the evil money-grabbing Conservative government is doing the grabbing.

Should the gasoline tax go up by $2 a litre as John and Snowman suggest. Probably should but IMHO should be phased in at 50c every 6 months to give people some chance to get rid of their  big engined vehicles  before they are worthless.  And should it be added to the HST so that businesses can claim it back?  I think so but only if they are real businesses that charge and remit HST already.

[johngenx]

...And should it be added to the HST so that businesses can claim it back?

No.

[airbalancer]

...And should it be added to the HST so that businesses can claim it back?

No.

why not, it is a cost of doing business