Gas Prices

[Trainguy]

Originally Posted by s211

I've seen stations vary by over $0.20 in a day. A couple of weeks ago, I went past a station at King Ed and Oak that was 160 at 8 AM, drove back past it an hour later and it was 170, and then later in the evening it was in the 140s.

The daily whipsawing in prices is interesting. I'm wondering if it's a technology-related issue, where gas station chains are trying out new supply-demand pricing algorithms maybe?

In the Edmonton area, I was surprised to find the price the same in the morning afternoon and evening. I asked my mom why the price doesn't shift around? She looked at me like I was crazy. Bellingham doesn't yo-yo everyday either. Just when the price of oil goes up or down. I think the whole thing is just price gouging.

[WestCoastEcho]

Originally Posted by Trainguy

In the Edmonton area, I was surprised to find the price the same in the morning afternoon and evening. I asked my mom why the price doesn't shift around? She looked at me like I was crazy. Bellingham doesn't yo-yo everyday either. Just when the price of oil goes up or down. I think the whole thing is just price gouging.

It's everyone playing around with their retail margins; some retailers may decide to severely cut into their margins, or sell at or below cost to draw in customers to their convenience stores, car washes, etc and hope that this revenue is enough to cover their costs.

However, they can't keep the price that low forever, so the price goes back up, and the cycle continues.

[milomilo]

Originally Posted by Klazu

So, it looks like Horgan's inquiry did nothing at all. Price gauging continues to be rampart.

There is no such thing as price gouging, only price. You want lower prices, get more supply, lower the taxes or suck it up. Probably the latter for the rest of time.

[bluefox]

Originally Posted by p78hub

Don't prices usually start to fall after Thanksgiving? I understand the increases (as stupid as they are) leading up to the long weekend, but we're well past that now and it's a long while before another high-travel period. Is another refinery we rely on offline for maintenance again?

Probably that attack on Saudi oil fields. It apparently wiped out half their production capability.

[MIPS]

Doubtful, otherwise my gas wouldn't be $1.21/L in Kamloops. We didn't see a spike at all when that happened.

[Cypherus]

In all fairness stations in Washington state have also been increasing in price.

"Gas prices keep rising in Seattle while dropping nationwide" - October 14, 2019
https://komonews.com/news/local/gas-...ing-nationwide

[bluefox]

Originally Posted by MIPS

Doubtful, otherwise my gas wouldn't be $1.21/L in Kamloops. We didn't see a spike at all when that happened.

I forgot to add an /s at the end of my post.

[whatnext]

Originally Posted by bluefox

Probably that attack on Saudi oil fields. It apparently wiped out half their production capability.

Apparently refinery issues in California which affects the whole West https://krcrtv.com/north-coast-news/...tenance-issues

[WarrenC12]

Something, something, price goes up!

[SpongeG]

gas was dropping to 139.9 along grandview highway and than there was super save at clarke that was 129.9 creating long lineups to get gas

2019-10-29_10-14-20 by snub_you, on Flickr

[mcminsen]

I was riding the bus on Broadway today and I thought I saw 120 something at the Petro Canada on the NW corner of Clark Drive and Broadway and I thought that can't be right. Maybe it was!

[WarrenC12]

That Super Save is always dropping prices, and creating a traffic mess.

[officedweller]

Back up to 154.9 today

[p78hub]

I saw 129.9 at the Petro-Canada on Knight at 33rd a couple of nights ago with the line extending out on to the street. A little further down at 41st, Shell had 130.9 and a virtually empty gas station. Depending on the size of the gas tank, that's what? A 50c savings on a tank of regular?

[bluefox]

Originally Posted by p78hub

I saw 129.9 at the Petro-Canada on Knight at 33rd a couple of nights ago with the line extending out on to the street. A little further down at 41st, Shell had 130.9 and a virtually empty gas station. Depending on the size of the gas tank, that's what? A 50c savings on a tank of regular?

Pricing is manipulative and psychological.

I bet you'd see the same situation if one station was 129.9 and one was 130.0. Same reason retailers don't charge whole-dollar prices. $4.99 looks cheaper than $5.00.

[Denscity]

Its $1.23 a litre here. It's been a buck thirty something for what seems like years so this seems cheap for us.

[Sheba]

Companies still can't account for 13 cent gap in B.C. gas prices, report finds

Five major companies operating in B.C. are still unable to account for an unexplained gas price difference of 13 cents per litre between southern B.C. and other parts of the Pacific Northwest, according to a report released Tuesday.

The companies had the opportunity to explain the discrepancy this fall after the B.C. Utilities Commission (BCUC) highlighted the gap following a provincial inquiry. A statement from the commission Tuesday said its panel has reviewed the companies' attempted explanations but found the evidence they offered does not add up.

"The Panel finds their evidence either inconclusive or conflicting," the statement said.

The lack of concrete evidence means there is still no explicit explanation for the price gap costing drivers on the Canadian side of the border nearly $500 million a year.

Wholesale prices in southern B.C. are set based on those in the Pacific Northwest of the United States because it is a nearby region and a similar price is considered justifiable, BCUC CEO David Morton said when the commission's initial inquiry report came out in August.

The commission found that even after accounting for transportation costs and higher B.C. fuel standards, Metro Vancouver drivers are still paying more than those in Washington.

...

[WestCoastEcho]

Trans Mountain is slowly chipping away at the opposition to the TMX expansion, with 2 First Nations bands dropping out of the court challenge and reaching an agreement with Trans Mountain:

https://www.cbc.ca/news/canada/briti...tain-1.5361993

Two First Nations in British Columbia's southern Interior that had been part of a court challenge against the Trans Mountain pipeline expansion have reversed course and signed deals with the Crown corporation.

The Upper Nicola Band near Merritt and Stk'emlupsemc te Secwepemc near Kamloops dropped out of the Federal Court of Appeal litigation, leaving four B.C. First Nations to fight the case.

The Upper Nicola says in a joint news release with Trans Mountain on Friday that its deal represents a "significant step forward" toward addressing environmental, archeological and cultural heritage concerns.

It says the agreement provides resources to support its active involvement in emergency response and monitoring while helping avoid and mitigate impacts on the band's interests and stewardship areas.

A news release from Stk'emlupsemc te Secwepemc says its leadership determined an agreement could be used to protect its cultural, spiritual and historical connections to the land.

Trans Mountain spokeswoman Ali Hounsell says the two bands dropped out of the challenge last week after continued discussions with the corporation.

[casper]

Originally Posted by Sheba

Companies still can't account for 13 cent gap in B.C. gas prices, report finds

Poor working on the part of CBC. Why should a private company competing in an open free market have to account for a 13 cent gap in the price of its product.

It is not an issue of "can't" but an issue of "wont". It is not reasonable to expect an explanation.

[bluefox]

Originally Posted by casper

Poor working on the part of CBC. Why should a private company competing in an open free market have to account for a 13 cent gap in the price of its product.

It is not an issue of "can't" but an issue of "wont". It is not reasonable to expect an explanation.

Mmm, I think we all know the gap is not a question of profit margin, which would be an easy enough explanation to provide. We all know how the market works and that private corporations in a market economy are not expected to give away product.

If the companies felt the margin for gas sold on the south coast was reasonable they would have said so, but they didn't. After accounting for taxes, the company's operating, production, marketing, and logistical costs, and a comparable, and reasonable, profit margin, there is still a price gap of roughly 13 cents. The question is why. Again, if there's an explanation, determining that was the point of the inquiry.

If you feel gasoline marketers are entitled to charge whatever price they want, that's one thing and you're welcome to that opinion, but let's not confuse that with the fact a gap exists and they know if they tell the truth they'll confirm what everyone already thinks. Government already knows they're doing it, they are just looking for a reason to illegalize it.

(Also, why single out CBC for portraying it this way? Literally every mainstream outlet has used the term "unexplained" to describe the gap.)