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Gas price

Bugs
Joined: Feb 2009
Posts: 160

Bugs
Joined: Feb 2009
Posts: 160

Gas price
2/25/2022 at 10:41 AM

Hearing gas going up to $2 tomorrow. Can anyone confirm the rumour?
Mac72
Joined: Jul 2020
Posts: 713

Mac72
Joined: Jul 2020
Posts: 713

On news last night
2/25/2022 at 11:46 AM

And again this morning about gas prices going up Saturday in Ontario at least 7cents a litre so we will likely follow suit.

https://globalnews.ca/news/8642907/toronto-gas-prices-increase-ukraine-invasion-analyst/
ZEEKE
Joined: Nov 2011
Posts: 35

ZEEKE
Joined: Nov 2011
Posts: 35

Gas price
2/25/2022 at 12:24 PM

CBC analyst predicts gas at the pumps will increase by 5 cents per liter over the weekend . We can also look forward to the carbon tax increase on July 1st , when it jumps to $ 50.00 per tonne .
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Gas
2/25/2022 at 2:39 PM

Bugs said "Hearing gas going up to $2 tomorrow. Can anyone confirm the rumour? "
I'd call Snopes on that one, gas just doesnt go up that much in one day. Going to need a source if you want that rumour to be taken seriously.

Wouldn't be a huge surprise to see a 5-15 cent bump over these next few days on Ukraine news.

Interestingly though, depending on how you read charts and trends oil as a commodity could be seen as at a point where it might just want to pull back in price in the days ahead. That doesn't always mean much of anything and so doesn't necessarily mean direct impact at the pump, but a guy can hope!
https://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic?mod=home-page
Farmergeorge
Joined: Oct 2019
Posts: 1837

Farmergeorge
Joined: Oct 2019
Posts: 1837

.
2/25/2022 at 2:40 PM

West Texas intermediate is down $1.10 barrel at close along with most other commodities so that should not support another gas price increase yet.
Trevor B

Joined: Apr 2005
Posts: 8881

Trevor B
Joined: Apr 2005
Posts: 8881

But
2/25/2022 at 4:45 PM

Farmergeorge said "West Texas intermediate is down $1.10 barrel at close along with most other commodities so that should not support another gas price increase yet. "
they will find an excuse to raise it. The gas prices we have now are like what we saw in 2008 when oil was in the $140 range.
philly7475
Joined: Nov 2019
Posts: 26

philly7475
Joined: Nov 2019
Posts: 26

gas prices
2/25/2022 at 5:06 PM

Iraq and RUSSIA top two oil producer of course gas will go up switching to summer gas and what is going on with Russia it will go up and everyone starting to get out in the world traveling and all
vegimite
Joined: Sep 2018
Posts: 686

vegimite
Joined: Sep 2018
Posts: 686

UK
2/28/2022 at 9:50 AM

price reached £1.55 a litre today, that is approximately $2.55 and is expected to go higher.
So while we complain just be glad you are not over the pond in Blighty.
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Sanctions
2/28/2022 at 10:15 AM

All bets are off with impact of sanctions....
https://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic
FM
Joined: Jun 2015
Posts: 48

FM
Joined: Jun 2015
Posts: 48

Not
2/28/2022 at 5:09 PM

Like we don’t have our own fuel here, but if Trudeau wants to shut down Alberta so that he can say Canada is doing it’s part to combat climate change, then go buy our fuel from Saudi Arabia, why wouldn’t we expect prices to be ridiculous. But at least he can say Canada is doing it’s part….
Exhausted
Joined: Nov 2010
Posts: 1756

Exhausted
Joined: Nov 2010
Posts: 1756

Don’t blame carbon tax
2/28/2022 at 8:42 PM

That’s a drop in the bucket in the price.

Compared to the world situation.

Gas will go up that is for certain.

Plus it will go up as usual with long weekends, spring break and every time people are driving more. I never could figure that one out except for greed from oil and gas companies. Don’t blame the gas stations most have to do what they are told by chain.

We live on the prairies vehicles are a need not a want.
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Gas
3/2/2022 at 1:00 AM

Might get your $2/L yet, OP.
Oil going next-level bananas this week, coming up on $110/barrel as I type this:
https://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic
FredFeb
Joined: Jun 2010
Posts: 892

FredFeb
Joined: Jun 2010
Posts: 892

Gas
3/2/2022 at 11:27 AM

People are saying 168.9 $
M.T.
Joined: Sep 2012
Posts: 92

M.T.
Joined: Sep 2012
Posts: 92

Actual numbers
3/2/2022 at 12:46 PM

I'd like to see a comparison of some actual numbers of what the tar/oilsands cost per barrel and their volume production capability and then compare that to what we pay for importing from other countries.

Although I expect if we ramped up production then places like Saudi would lower their costs and make ours too expensive again.
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Gas
3/2/2022 at 12:56 PM

FredFeb said "People are saying 168.9 $ "
What people? What city? What stations?
Farmergeorge
Joined: Oct 2019
Posts: 1837

Farmergeorge
Joined: Oct 2019
Posts: 1837

More importantly
3/2/2022 at 1:11 PM

Interest rates have started to rise and not before time.
philly7475
Joined: Nov 2019
Posts: 26

philly7475
Joined: Nov 2019
Posts: 26

gas prices
3/2/2022 at 2:21 PM

thunder bay 169.9 6hrs ago and yes it is Ontario so it will coming west soon
Abbysmum
Joined: Mar 2009
Posts: 5038

Abbysmum
Joined: Mar 2009
Posts: 5038

Here ya go
3/2/2022 at 6:38 PM

Adam said "
What people? What city? What stations?
"
https://winnipeg.ctvnews.ca/it-s-inevitable-gas-prices-in-winnipeg-expected-to-hit-record-high-this-week-1.5803228

I realize it's out a few cents, but here's what is being predicted.

Edited by Abbysmum, 2022-03-02 18:38:46
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Thanks!
3/2/2022 at 6:40 PM

Abbysmum said "https://winnipeg.ctvnews.ca/it-s-inevitable-gas-prices-in-winnipeg-expected-to-hit-record-high-this-week-1.5803228

I realize it's out a few cents, but here's what is being predicted.

Edited by Abbysmum, 2022-03-02 18:38:46"
Off to the station tonight I go!
No Comment
Joined: Feb 2009
Posts: 765

No Comment
Joined: Feb 2009
Posts: 765

Vancouver tonite
3/2/2022 at 10:24 PM

like 7.37 a gallon. egad.
Trevor B

Joined: Apr 2005
Posts: 8881

Trevor B
Joined: Apr 2005
Posts: 8881

And
3/2/2022 at 11:02 PM

this is what happens when oil and gas are traded on an open market. Oil is nowhere near the price it was in 2008 and we have higher gas prices than we did then. And no, it's not solely because of the Carbon Tax which adds very little to the amount. It's not because we import some oil, a small fraction of domestic use. We would see the same increase if we didn't import any oil.

This is because any world event causes the markets to panic and the price of oil and gas increase.
Farmergeorge
Joined: Oct 2019
Posts: 1837

Farmergeorge
Joined: Oct 2019
Posts: 1837

:
3/2/2022 at 11:34 PM

Trevor B said "this is what happens when oil and gas are traded on an open market. Oil is nowhere near the price it was in 2008 and we have higher gas prices than we did then. And no, it's not solely because of the Carbon Tax which adds very little to the amount. It's not because we import some oil, a small fraction of domestic use. We would see the same increase if we didn't import any oil.

This is because any world event causes the markets to panic and the price of oil and gas increase. "
How else would you fairly trade commodities without an open market? It’s the only way to achieve true price discovery.
High prices will eventually cure high prices as people will be forced to use less.

Edited by Farmergeorge, 2022-03-02 23:41:16
Abbysmum
Joined: Mar 2009
Posts: 5038

Abbysmum
Joined: Mar 2009
Posts: 5038

And....
3/3/2022 at 7:29 AM

...here it is.

My brother texted that it's 163.9 in Winnipeg this morning.

So fill up if you still see anything at 149.9.
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Hope
3/3/2022 at 10:29 AM

For anyone looking for hope that these prices won’t last forever, investing guy I follow makes the case of a few different scenarios that could eventually bring oil back down within 3-6 months …
My Case For Oil Collapse: If Russia conflict continues, high oil causes demand destruction, potential global recession (oil will fall). If conflict is resolved, oil drops sharply as war premium is taken out. Wild Card: Possible Iran deal (another reason oil can drop). #Oil
— Gareth Soloway (@GarethSoloway) March 3, 2022
derek911
Joined: Sep 2010
Posts: 15

derek911
Joined: Sep 2010
Posts: 15

Petro Canada
3/3/2022 at 12:10 PM

Petro on 26th is now at $1.639
chickendinner
Joined: Aug 2012
Posts: 198

chickendinner
Joined: Aug 2012
Posts: 198

$1.45 at Costco at noon today
3/3/2022 at 3:35 PM

The line-up at the McGillivray Costco was ridiculous. Store was not busy but the gas pumps were. We chose not to wait.
braid
Joined: Apr 2010
Posts: 5434

braid
Joined: Apr 2010
Posts: 5434

Gas
3/3/2022 at 6:57 PM

Just imagine if it was switched back to " per gallon". As in X 4.
Our Federal & Provincial government don't care. Anyone know how much of the cost goes to Federal & Provincial tax ?? I'd really like to know that.
Add the useless ( IMHO) Carbon tax & governments are laughing.
Trevor B

Joined: Apr 2005
Posts: 8881

Trevor B
Joined: Apr 2005
Posts: 8881

Those
3/3/2022 at 7:19 PM

who are driving the Tesla's and other electric vehicles are grinning knowing they don't have to worry about how much the gas price is.
fivestar
Joined: Mar 2013
Posts: 41

fivestar
Joined: Mar 2013
Posts: 41

Electric
3/3/2022 at 7:22 PM

Electric vehicles/machinery arent really an option for those of us that farm.
nicemoustache
Joined: Apr 2012
Posts: 167

nicemoustache
Joined: Apr 2012
Posts: 167

And
3/3/2022 at 8:03 PM

braid said "Just imagine if it was switched back to " per gallon". As in X 4.
Our Federal & Provincial government don't care. Anyone know how much of the cost goes to Federal & Provincial tax ?? I'd really like to know that.
Add the useless ( IMHO) Carbon tax & governments are laughing. "
…who did you think was going to pay for the pandemic, stressed out supply chain, out-of-control questionable government spending and “free” social assistance? Pretty sure it’s the consumer. And most likely your electric vehicles, recharge/batteries etc. are pretty much going to follow the price increase…because they can.