[Newsbot]

Title: Economic woes could spur price drop at the pumps
Category: Economics
Posted By: Strutz
Date: 2011-08-10 11:04:34
Canadian

[andyt]

"A one-dollar decline in the price of crude -- the raw product used to make gasoline -- typically shaves three to four cents off of each gallon of gas."

wonder what world he's living in?

[Proculation]

The oil price is ~80$/bbl at the moment yet the gas is 1,40$/l at the pump in Montreal.

Last year, oil was about ~120$/bbl and the gas was at ~1,25$/l and the Canadian dollar worthed less.

Something is wrong with their math.

[DanSC]

Proculation Proculation:

The oil price is ~80$/bbl at the moment yet the gas is 1,40$/l at the pump in Montreal.

Last year, oil was about ~120$/bbl and the gas was at ~1,25$/l and the Canadian dollar worthed less.

Something is wrong with their math.

A lot of that is station owners unsure of where the price will go from here. They'd love to drop the price and pull more cars off the street, but if they drop the price too far, and fuel prices go up again, they can't afford their next delivery.

[andyt]

DanSC DanSC:

Proculation Proculation:

The oil price is ~80$/bbl at the moment yet the gas is 1,40$/l at the pump in Montreal.

Last year, oil was about ~120$/bbl and the gas was at ~1,25$/l and the Canadian dollar worthed less.

Something is wrong with their math.

A lot of that is station owners unsure of where the price will go from here. They'd love to drop the price and pull more cars of the street, but if they drop the price too far, and fuel prices go up again, they can't afford their next delivery.

Maybe in the US. In Canada they all raise their prices in concert as soon as there's a rumor that oil will rise. They take their sweet time dropping the price when oil falls, and never as much as they should with the lower price of oil. I don't think it's the individual station owner that's making out like a bandit, but somebody is.

[2Cdo]

We're hearing rumblings of a 10-15 cent/liter drop within the next ten days!

[Canadian_Mind]

WTF happened to the days where even at 80 bucks a barrel the cost of gas wasn't over a dollar?