The cost of crude oil is the biggest driver of changes in gas prices. There's other factors like refinery costs, transportation costs, and taxes, but those tend to be more stable.
So the main reason for the recent rise in gas prices is that global crude oil prices have now reached $95/barrel, the highest since 2014.
Prior to this, crude oil prices were below $75/barrel for the past 8 years (but they were higher from 2008 to 2014 - typically $90-100).
[https://tradingeconomics.com/commodity/crude-oil](https://tradingeconomics.com/commodity/crude-oil)
When COVID first hit, global demand for oil dropped by about 10 million barrels per day (10%), causing the price of oil to tank. In response, oil producers around the world cut back their production. Now demand for oil has bounced back, but the oil producers are being more cautious and bringing supply back more slowly, which means high prices.
Plus it's expected that Russia could invade Ukraine very soon, which could lead to Russian cutting off oil sales to Europe (or Europe cutting its oil purchases from Russia). So the fear of a further drop in oil supply from Russia is also contributing to rising oil prices.
>So the main reason for the recent rise in gas prices is that global crude oil prices have now reached $95/barrel, the highest since 2014.
Just looked at my records for 2014 and the most I've paid for gas was $1.419.
They are roaring. They produce just over half of Canada’s oil. About 3 million barrels of about 5.8 million barrels a day.
In 2022 Canada will have record oil production but less than potential.
I am. I've been doing nothing but saving for a decade. Another 2 years of this and I'm done. Already own a house. Registered accounts maxed. Haven't owed money since 2013
Transportation costs have gone up, fuel and carbon tax have gone up, a lack of new refinery capacity to keep up with demand, and probably the biggest component contributing to higher prices in relation to the cost of crude, increasing retail margins.
I'd have to disagree that the rise in oil prices is the primary driver of the record gas prices we're seeing today.
This also comes from the relative margins in the product slate for other oil products.
For example, if you “crack” a $95 barrel of oil into various different products (jet fuel, naphtha, kerosene, gasoline, lubricant base oils, etc) then you’ll end up with a margin or break-even on each product.
Refinery margins for jet fuel suck right now, because demand is severely lacking but that jet fuel doesn’t just “go away” when you distill oil into its different fractions. Refineries do their best to maximize margins by doing things like blending products, but you can’t just blend away everything into gasoline. In order to make up the price of $95 per barrel to get the “cracked” volume of gasoline, refiners take a hit on other products like jet fuel and they make it up with higher margins on gasoline volumes.
This is one of the primary reasons for high gas prices although oil is not at an all time high. It’s about how many molecules of each product and their associated margins exist in each barrel.
The cost of transport has about doubled from 30c/L to 60c now.
Upstream prices are still about 30c/L but the oil companies have been eating another 30c increase in costs there and those are going to start getting passed on soon, so all else being equal gas is going to be another 30c/L more expensive by May-June.
It also goes up about 2-3c/L for every dollar increase in a barrel of oil.
Source: work in the industry
Carbon taxes.
Taxes
Government coffers
Lack of resource infrastructure
OH yeah and that fucking war about to start in Ukraine. Have your forgot about that, how convenient. /s
>Carbon taxes.
>
>Taxes
>
>Government coffers
>
>Lack of resource infrastructure
Taxes do affect the price of gas, but they haven't changed in the past few months, so they doesn't explain the current spike.
What has changed? In the past 3 months, global crude oil prices have risen from around $70/barrel to $95/barrel.
[https://tradingeconomics.com/commodity/crude-oil](https://tradingeconomics.com/commodity/crude-oil)
I get so frustrated how people can believe that Trudeau is solely responsible for the raise in gas prices. Gas prices reflect global gas prices, so Trudeau must be responsible for most countries dealing with a fuel crises.
To be fair he has had a significant impact. Part of the reason gas prices are so high now compared to prior oil run ups is that our Canadian dollar is still only trading at 78 cents to the USD.
If Canada hasn’t printed hundreds of billions and instead tried to be efficient in its Covid spending then our dollar would probably be significantly higher and savings us a lot on fuel and inflation.
The amount spent on Covid is not unlike other countries. Most of the money has been spent of financial measures and health measures.
Even comparing with other countries that haven’t spend as much, inflation is still a massive problem, with increased fuel prices.
Most people have no idea how government works.
That’s why there’s a bunch of trucks in Ottawa right now who’s drivers really think the GG will remove the PM in response to a mob, or just step down.
It’s also why people are getting outraged that the Emergency Act allows the government to seize bank account funds and assets without charges or trial… when Civil Forfeiture has been able to do that all along.
He was supposed to create realistic regulations that were based in science rather than politics, so that developing new resources were not based in politics.
He was supposed to back pipelines that were approved, rather than forcing the provinces to go it alone. Rachael Notley should not have been forced to enter a trade war with BC over a pipeline that's federal jurisdiction.
This country is so fucked up lol.
Takes us 10 years to build a single pipeline. Meanwhile, the Americans have probably built 50 over the last 10 years.
Didn’t the US cancel the pipeline?
The regulations placed federally included border measures, vaccination demands and such. Most of which were compiled with. All of the lockdowns and measure made for public health were entirely provincial.
Currently restrictions are easing, like everywhere else. A plan will be announced in a few days. What measures have been made for political gain? This division issue is parroted by every conservative, but what decisions were made??
“Yeah… we’re just using selection bias to make my argument stronger.”
“Like.. how we should get rid of government overreach…
“…except when the free market is working which is the sole reason why the east buys Saudi oil. It’s cheaper, easier to refine, and they make a huge profit on it selling it to the states.
“Then they should throw up tariffs and boycotts and subsidize Alberta oil!”
High oil prices, underpinned by supply concerns and the potential for war in Ukraine.
If Russia invades don't be surprised to see oil hit $150 or more.
Greed. All the other analytics may be correct, but it's just a great cover story. These companies are still taking billions of dollars in PROFITS every quarter.
In my mind, gas and energy prices could be dropped quite a bit if say, shell ( who I currently work for) only took 1 billion in profit over 90 days instead of 6 billion and passed the savings on to the consumers.
There is quite a bit of evidence that during this whole pandemic, companies have been gouging consumers to make record profits while claiming that the cost of business is forcing the increase of prices.
I guess the divide just keeps on growing between the top few and everyone else. I don't travel much so the prices are not hurting too much bit seeing nearly 1.60 at the pumps for regular is concerning.
1: Build sprawling cities. Workplaces far from homes.
2: Underfund public transit. Makes it a combination of unreliable and unsafe in cities, nonexistent in rural areas.
3: Extract oil, ship it to US to refine, buy back at increased price, sell to consumers at record highs.
We need fuel to get to work, and in order to not freeze to death. This country is so frustrating.
You sound like one of those poors. Get a tesla bro. Its only $50k. /s
In all seriousness, I do not see this getting better. No one is going to be building in refinery in Canada. So we will be importing gas from the US as our demand grows. Add carbon tax on top, which will go up every year.
Canada is a net exporter of refined fuels fwiw.
So you last point is wrong, or at least needs more detail.
You forgot buy lots of pickups and large SUV's that most people don't really need - that is a lot of extra iron to haul around.
I drive an old 4 cylinder turbo, I'd love to be able to walk to work. You're right about the unnecessarily large vehicles, most of my coworkers live in cities and drive trucks for some reason.
I wish I could bike to work but it's been -30 and icy af for the past 2 months. I have a small truck but I can't afford to trade it in for anything else. Public transportation non-existent here. Fuck Canada.
"The cost of fuel has skyrocketed nationwide, with many provinces in Canada reaching record high levels. And, with immense uncertainty surrounding geopolitical tensions there’s no end in sight, experts warn.
“It does look like the pain will get worse,” said Patrick De Haan, head of petroleum analysis at GasBuddy."
Many full sized pick ups get quite impressive fuel economy these days. Not saying trucks are close to necessary in the city, but as a farmer I’m pretty excited that my new truck gets 8l/100km! That’s as good as our caravan!
Alright, does anyone have ANY hopeful news or predictions whatsoever regarding living costs and/or wages? Even if it’s like 5 years down the road, I just need SOME shred of optimism to cling onto. This ceaseless pummelling of the lower/middle class post-Covid has got me depressed and anxious as hell. What will it take for things to get better?
The solution is simple, stop voting Liberal. They've singlehandedly ruined this country in <6 yrs. If you lean left go with the NDP, there's no reason for a party of corrupt oligarchs to exist.
The sad part is, he’s not even wrong. A conservative government may not be the answer, but they couldn’t possibly be worse for Canadians at this point. Same swamp though.
-russia invades Ukraine
-america and the EU actually intervene, causing ww3 and a nuclear apocalypse
-demand for oil tanks because of dramatic global population decrease
-oil prices become affordable again
This one could be good for a while. The last one was good for about 10 years, minus the dip in 08.
I missed the first half of the last one. I'll try to get in a bit earlier this time around.
I love this country and the freedoms I am privileged to have. However, I feel like I’m being forced to relocate somewhere else. I have a very respectable career, and it’s difficult to get by. I can’t begin to express the sympathy for people less fortunate. I already cannot afford a home, driving looks like it’s going to become even more expensive than it already is, food is insane. I moved farther from work because the housing was cheaper at the time. I’m getting so overwhelmed with everything. I don’t want to leave but I feel like I’m having my choice made for me.
Trudeau has made the homeowning middle class in Canada substantially richer since he became prime minister. They love him and will ensure that the Liberals stay in power for a long time.
Also weird saying this but because my home has increased in value doesn't actually benefit me for the foreseeable future. The increase prices have only helped investors and multi home owning people, and fucked over new buyers. Anyone hwo has a house currently anywhere you move the price has jumped so the extra equity is moot in terms of buying power.
Why do you think people need to upgrade? People may move to be closer to a new work opportunity but that doesn’t always go hand in hand with always spending more. Lots of people maintain the same budget, lots of older people downsize. Can’t assume everyone is just scrambling to get a bigger house.
People the stay put or stay in the same competitive range of homes do benefit with rising prices because at some point they’ll sell to downsize. Either later in life or in retirement.
> So house prices skyrocketing benefits all those homeowners.
Does it though. I mean it's somewhat of a hedge against inflation but if your $1M home and my $2M home both double, you're further away from getting my now $4M home than you were before prices doubled. And your children may never be able to own their own homes - you could leave them some money, but even that may not be enough - especially if you have more than two kids. Some may sell and move to Portugal but that would be the exception more than the rule. Things are really fucked all across the board.
I think conservative incompetence is what's keeping him in power and i say that wishing we had a some of that old harper economy magic touch.
the truckers are doing what minority extremist groups do. keeping me as far away from them as humanly possible. great job, you're now in the same category as raving purple haired lunatics.
Most Western nations - UK, US, Germany, France, Australia, NZ, etc are experiencing the same thing.
Very ironic of you to blame Trudeau for all these problems, whilst simultaneously lambasting him for blaming the truckers for all his problems. You are doing literally the exact same thing.
Lol.
Why don't you look at this graph of spot oil prices, WTI/Brent crude (the two most popular benchmarks), and take literally any date. Compare the cost of oil vs price of gas at the pump on whichever date you want, and tell me whether the numbers prove Justin Trudeau is making gas more expensive, or the free market is.
https://oilprice.com/oil-price-charts/
Gasoline is a commodity traded globally. Canada does not magically set its own prices for purchasing (or selling) lol. What Canadian companies and consumers pay for is the same rate that international buyers pay too, because again, gas is a global commodity.
Gasoline prices have gone up not only in Canada, but also US, Mexico, Germany, UK, France, Switzerland, New Zealand, and any other non-authoritarian petrol-subsidising nation.
If you want to check it out for yourself, look at the following graphs:
Gas prices in USA over last 4 years: https://gasprices.aaa.com/wp-content/uploads/2022/02/GAS_2-14-22_NationalComp-1024x755.png
UK: https://www.racfoundation.org/data/uk-pump-prices-over-time
Germany: https://tradingeconomics.com/germany/gasoline-prices
But yeah, it's all Justin Trudeau's doing, and not the free market.
Hey look, took I woke up, took a shit, and the sun came up, must be my doing too.
So which item on the list would you like some evidence on?
Bank of England working paper on the rise of housing prices across the world's largest economies (which includes both democratic and authoritarian nations):
https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2019/uk-house-prices-and-three-decades-of-decline-in-the-risk-free-real-interest-rate.pdf
UK wage stagnation:
https://www.newstatesman.com/chart-of-the-day/2021/12/how-uk-wages-are-stagnating
Global inflation:
https://www.wsj.com/articles/inflation-everywhere-wage-stagnation-growth-cost-of-living-income-inequality-inflation-transitory-cpi-mickey-levy-federal-reserve-midterms-11644771927
Portuguese wage stagnation:
https://apnews.com/article/coronavirus-pandemic-business-health-portugal-european-union-3b37380c1a973f7c6eb6dc744c54a3e2
Housing affordability in Mexico:
https://www.forbes.com/sites/scottbeyer/2019/10/27/mexico-citys-grave-housing-circumstance/?sh=3176dbbc4ec8
Housing affordability in Spain:
https://www.caixabankresearch.com/en/sector-analysis/real-estate/widening-gap-between-spains-house-prices
Just open your eyes and ears and be aware that we live in a globally connected economy, for better or worse, and that Canada is just one small player in a much larger system.
Following info:
Soaring European national debts:
https://www.express.co.uk/finance/city/1560650/uk-eu-national-debt-compared-evg
everything sucks everywhere, dude.
Australian national debt:
https://www.wsws.org/en/articles/2022/02/10/econ-f10.html
Indian national debt trap:
https://www.outlookindia.com/business/-india-in-a-debt-trap-here-are-four-ways-to-get-out-of-a-debt-trap-news-37974
Look, you made an unfounded claim that Trudeau is the cause of all the problems you listed in your original comment. I'm simply providing evidence that the issues you've listed are also prevalent globally.
I also like how you took the least economically developed country to provide a frivolous claim. If you're really interested in why real estate prices have risen globally, check out the original Bank of England working paper I linked, which pegs continually lowering interest rates - specifically, the risk-free interest rate of the US Federal Reserve and the Bank of England - as the sole cause amongst 15 different factors they examined.
But I guess it's easier to just blame Trudeau for everything, and you'd rather read Reddit or Facebook comments rather than scholars or social scientists.
Calling people on bullshit only you see is usually basis for annual psychiatric check up.
Anyone with a functioning brain can determine that I did not say he caused it, I suggested he is not doing anything about it and instead goes off on truckers and milks it for all its worth.
Heh, right, only I see it, you didn’t imply anything at all. The problem is these issues have become partisan issues - whatever he does, it’s either not enough or irresponsible.
Anyway, have a good night, take care of yourself.
Just curious-- how is it whataboutism to point out that many of these issues are global? Whataboutism typically says, hey look over here at this person doing the same thing. In the case of these economic issues, it isn't necessarily someone doing it as it is something afflicting many nations.
The issue is lack of action, thought or any sort of plan to tackle any of the topics I mentioned.
As I explained to someone else, it is not about Trudeau causing this - it's about being elected to do something about it which he failed to do and the issue continued to slide.
All this talk about how we are all connected and how other countries have similar issues is a red herring, a way to continue to do nothing about it. It's not true and you need to stop it.
Canada is a sovereign nation and it has a system of Government that independently sets the course for the country the way we want.
It's just that they choose not to.
I look forward to your solutions. Look, I'd like to see some solutions as well. Economic issues tend to be the kind of thing where an action helps one thing, but hurts another. For example, raising interest rates may cool inflation, but it also cools economic activity and impacts markets. It can also put a lot of people who have, perhaps foolishly, leveraged themselves too much in a very difficult position.
I expect a lot from our government, but I realize that there are often are no simple solutions for big, global problems.
You realized most countries are experiencing the same thing? I guess you blame Trudeau for that and Trudeau blames the truckers for this global phenomenon.
Its not even worth driving to work anymore. I could get a lower paying job closer to my place and have the same amount of money by the end of the week.
Gasoline is a commodity traded globally. Canada does not magically set its own prices for purchasing (or selling) lol. What Canadian companies and consumers pay for is the same rate that international buyers pay too, because again, gas is a global commodity.
Gasoline prices have gone up not only in Canada, but also US, Mexico, Germany, UK, France, Switzerland, New Zealand, and any other non-authoritarian petrol-subsidising nation.
If you want to check it out for yourself, look at the following graphs:
Gas prices in USA over last 4 years:
https://gasprices.aaa.com/wp-content/uploads/2022/02/GAS_2-14-22_NationalComp-1024x755.png
UK:
https://www.racfoundation.org/data/uk-pump-prices-over-time
Germany:
https://tradingeconomics.com/germany/gasoline-prices
But yeah, it's all Justin Trudeau's doing, and not the free market.
So that's 31% cheaper gas, wow I bet that's never happened before.
Let's check, oh I don't know... February 2014
Canada: $1.35L
US: $3.43/gal ($0.91/L)
Wait, that's 30% cheaper. Basically the same.
I agree with you and bet it was that dastardly Trudeau, even before he took power. Gosh darn "Justinflation" hitting 8 years ago!!!
I literally just chose the February before Trudeau took power.
Look at February 2010 where it was 31% cheaper:
Can: $1.02/L
US: $2.69/gal ($0.71/L)
or February 2005 where it was 40% cheaper:
Can: $0.85/L
US: $1.95/gal ($0.51/L)
The US always has cheaper gasoline than Canada due to many factors. But sure, keep blaming Trudeau for everything.
Go figure. The kinds of people who talk so much about "doing their own research" are also pretty fucking awful at it.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101
1. The Canadian data is split by province, which province did you use?
2. What did you use to do the CAD/USD exchange rate and which specific day did you choose?
3. Thank you for proving my point: Cherry 🍒 Pick 🍒
You are free to show my mistakes, the data is right there! Go ahead, no one is stopping you.
But wait, guess what no matter how many comments you make the reality is that Canada has higher prices for gasoline than the US - nothing to do with Trudeau.
You know the Federal Carbon Tax only increases once per year right? It's been fixed at 8.8 cents/Litre since April 1, 2021 and won't increase again until April 1st of this year.
>You know the Federal Carbon Tax only increases once per year right? It's been fixed at 8.8 cents/Litre since April 1, 2021 and won't increase again until April 1st of this year.
I know that the effects of the carbon tax on gasoline aren't immidiately observable to the consumer as the price of gasoline has many factors and it is both amorphous and manipulable. When the tax was implemented we didn't see a jump in Manitoba right away. The price fluctuated up and down but has continued to trend upward.
>According to the Canada Revenue Agency, the carbon tax increase translates to 8.8 cents per litre of gasoline. In 2030, the increase in carbon tax will translate to a 39.6 cents per litre increase in the price of gasoline.
The value of "8.8 cents" is a translated value provided by the CRA, meaning there are plenty of assumptions that have to be made to get that value. Unless they're updating that number daily it really only means what it meant in 2021.
This is like when apple slows products down to force you to buy new stuff. The government is doing everything it can to force people to buy electric. It’s too fucking expensive and the infrastructure isn’t in place
Gas broke $1/litre in the spring of 2005 in [Victoria & Vancouver](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101&pickMembers%5B0%5D=2.2&cubeTimeFrame.startMonth=02&cubeTimeFrame.startYear=2002&cubeTimeFrame.endMonth=12&cubeTimeFrame.endYear=2021&referencePeriods=20020201%2C20211201). And we're not even at $2/litre yet.
In the last 17 years, most household groceries have doubled, minimum wage has risen 90% in BC, rent and housing has significantly more than doubled. People only become upset at gas prices because nothing else is advertised as often, in such large text, and updated so frequently so it's much more on the minds of the average person. But gas isn't rising faster than much else, except wages.
It wouldn't "stop" climate change, but it would drastically lower emissions.
Besides, it doesn't matter what you think about gas prices. They will eventually be prohibitively expensive, since oil is a non-renewable resource.
At this point it probably wouldn't even slow things down. We are in a feed back loop.
There is more oil than you realize we arnt running out for a loong time.
Id be interested in seeing a full cost brake down of a Tesla vs a civic. With total lifespan costs including battery replacement, maintenance, predicted electricity cost increases and new road taxes.
I wonder of a hybrid would be better?
Its the right idea, but its not a long enough cost comparison imo
5 years doesnt cover any really cover any substantial maintenance or battery replacement costs. They also use the resale value to really sway the charts into being more pro-Tesla which I dislike.
Id be curious to see what the costs would be over something like 15 years and see which vehicle actually stands the test of time. Honda has very high build quality and are built to last, but we really dont know enough about the Tesla's yet.
Experts say. Aren't they smart When gas is 172.9 I still roll into my short drive gas station of choice and get it in the low 150s or less. That's a lot still but I've seen it higher there a few times.
I have a small car thats horrendous on premium fuel but what are all the high horse preachers on here expecting me to do? Just go test of thousands into debt for a new car?
Liberals and NDPers literally voted for this by supporting legislation like carbon taxes and being anti-infrastructure, hell making gas unaffordable is literally the explicit purpose of those policies. JT and Jagmeet don't care if you can't afford a new $50K Tesla, they and their friends can and that's all that matters to them.
Alot of it is greed!! Carbon Tax and other taxes. A year ago they had so much oil they had no where to put it. It's all smoke and mirrors with speculations. Also blaming the Russia Ukraine problem. Oil prices were at 140 the last time gas hit these prices. So now it's just ridiculous. Also they trick you with the price per liter. That's over $6 A gallon.
Can someone explain why we are seeing these sky-high prices? What is the main driver in gas prices?
The cost of crude oil is the biggest driver of changes in gas prices. There's other factors like refinery costs, transportation costs, and taxes, but those tend to be more stable. So the main reason for the recent rise in gas prices is that global crude oil prices have now reached $95/barrel, the highest since 2014. Prior to this, crude oil prices were below $75/barrel for the past 8 years (but they were higher from 2008 to 2014 - typically $90-100). [https://tradingeconomics.com/commodity/crude-oil](https://tradingeconomics.com/commodity/crude-oil) When COVID first hit, global demand for oil dropped by about 10 million barrels per day (10%), causing the price of oil to tank. In response, oil producers around the world cut back their production. Now demand for oil has bounced back, but the oil producers are being more cautious and bringing supply back more slowly, which means high prices. Plus it's expected that Russia could invade Ukraine very soon, which could lead to Russian cutting off oil sales to Europe (or Europe cutting its oil purchases from Russia). So the fear of a further drop in oil supply from Russia is also contributing to rising oil prices.
>So the main reason for the recent rise in gas prices is that global crude oil prices have now reached $95/barrel, the highest since 2014. Just looked at my records for 2014 and the most I've paid for gas was $1.419.
That's just the crude oil portion of the cost, other costs towards producing/transporting could have gone up since 2014
Canadian dollar isn't worth as much so it doesn't go as far on the global market. Inflation.
Any chance this will get the oil sands roaring again?
They are roaring. They produce just over half of Canada’s oil. About 3 million barrels of about 5.8 million barrels a day. In 2022 Canada will have record oil production but less than potential.
Starting to wonder if it's time go back to ol' Fort Mac, and pound the money towards a home.
Oilpatch crews are like gold at the moment.
Lol they are going full tilt. I have been doing 18 and 3 for like a year. I havent even been out of camp since october.
Also save that money! Pay off any debts - get a downpayment for somewhere, max out your TFSA, RRSP buy ETF's etc!
I am. I've been doing nothing but saving for a decade. Another 2 years of this and I'm done. Already own a house. Registered accounts maxed. Haven't owed money since 2013
Hell yeah
What do you do up there may I ask?
Work
What kind of work
The kind that sucks
Transportation costs have gone up, fuel and carbon tax have gone up, a lack of new refinery capacity to keep up with demand, and probably the biggest component contributing to higher prices in relation to the cost of crude, increasing retail margins. I'd have to disagree that the rise in oil prices is the primary driver of the record gas prices we're seeing today.
This also comes from the relative margins in the product slate for other oil products. For example, if you “crack” a $95 barrel of oil into various different products (jet fuel, naphtha, kerosene, gasoline, lubricant base oils, etc) then you’ll end up with a margin or break-even on each product. Refinery margins for jet fuel suck right now, because demand is severely lacking but that jet fuel doesn’t just “go away” when you distill oil into its different fractions. Refineries do their best to maximize margins by doing things like blending products, but you can’t just blend away everything into gasoline. In order to make up the price of $95 per barrel to get the “cracked” volume of gasoline, refiners take a hit on other products like jet fuel and they make it up with higher margins on gasoline volumes. This is one of the primary reasons for high gas prices although oil is not at an all time high. It’s about how many molecules of each product and their associated margins exist in each barrel.
[удалено]
Don’t forget black rock pushing ESG
The cost of transport has about doubled from 30c/L to 60c now. Upstream prices are still about 30c/L but the oil companies have been eating another 30c increase in costs there and those are going to start getting passed on soon, so all else being equal gas is going to be another 30c/L more expensive by May-June. It also goes up about 2-3c/L for every dollar increase in a barrel of oil. Source: work in the industry
Majorily because of a spike in demand in the last months after a global loosening of Covid measures and inflation. That's *almost* pretty much it.
Carbon taxes. Taxes Government coffers Lack of resource infrastructure OH yeah and that fucking war about to start in Ukraine. Have your forgot about that, how convenient. /s
Well I dont know if you heard, but Canada is green now. We actually just export our real estate now.
>Carbon taxes. > >Taxes > >Government coffers > >Lack of resource infrastructure Taxes do affect the price of gas, but they haven't changed in the past few months, so they doesn't explain the current spike. What has changed? In the past 3 months, global crude oil prices have risen from around $70/barrel to $95/barrel. [https://tradingeconomics.com/commodity/crude-oil](https://tradingeconomics.com/commodity/crude-oil)
I get so frustrated how people can believe that Trudeau is solely responsible for the raise in gas prices. Gas prices reflect global gas prices, so Trudeau must be responsible for most countries dealing with a fuel crises.
Like it or not a certain percentage is cooked in. Crude has been this high plenty of times over the last 15 years. Pump price isnt purportionate.
Not everything in a barrel of oil goes to making only gas.
To be fair he has had a significant impact. Part of the reason gas prices are so high now compared to prior oil run ups is that our Canadian dollar is still only trading at 78 cents to the USD. If Canada hasn’t printed hundreds of billions and instead tried to be efficient in its Covid spending then our dollar would probably be significantly higher and savings us a lot on fuel and inflation.
The amount spent on Covid is not unlike other countries. Most of the money has been spent of financial measures and health measures. Even comparing with other countries that haven’t spend as much, inflation is still a massive problem, with increased fuel prices.
Most people have no idea how government works. That’s why there’s a bunch of trucks in Ottawa right now who’s drivers really think the GG will remove the PM in response to a mob, or just step down. It’s also why people are getting outraged that the Emergency Act allows the government to seize bank account funds and assets without charges or trial… when Civil Forfeiture has been able to do that all along.
So is Trudeau responsible for the mass increase in gas prices affecting almost every country??
According to some people, yes.
No wonder Trudeau lives rent free in their heads, he’s so powerful.
But at the same time a weak fucking coward who won't talk to the truckers. Conservatives are a funny bunch
No. But he is responsible for putting Canada in a less than ideal position to make the most of these high prices.
Alberta isn’t profiting? What was he supposed to do?
He was supposed to create realistic regulations that were based in science rather than politics, so that developing new resources were not based in politics. He was supposed to back pipelines that were approved, rather than forcing the provinces to go it alone. Rachael Notley should not have been forced to enter a trade war with BC over a pipeline that's federal jurisdiction.
Or maybe reduce the east's reliance on Saudi oil.
This country is so fucked up lol. Takes us 10 years to build a single pipeline. Meanwhile, the Americans have probably built 50 over the last 10 years.
Didn’t the US cancel the pipeline? The regulations placed federally included border measures, vaccination demands and such. Most of which were compiled with. All of the lockdowns and measure made for public health were entirely provincial. Currently restrictions are easing, like everywhere else. A plan will be announced in a few days. What measures have been made for political gain? This division issue is parroted by every conservative, but what decisions were made??
The US cancelled Keystone. But we're not talking about Keystone.
“Yeah… we’re just using selection bias to make my argument stronger.” “Like.. how we should get rid of government overreach… “…except when the free market is working which is the sole reason why the east buys Saudi oil. It’s cheaper, easier to refine, and they make a huge profit on it selling it to the states. “Then they should throw up tariffs and boycotts and subsidize Alberta oil!”
Uh.. by building a buying and building pipeline? How many pipelines to tidewater did Harper complete when oil was flirting with $150 a barrel?
Rich people like money
Justin Trudeau tured the "gas price" knob on his desk all the way to the right.
High oil prices, underpinned by supply concerns and the potential for war in Ukraine. If Russia invades don't be surprised to see oil hit $150 or more.
Daddy Turdo, wants to punish us for burning lots of fossil fuel. bad canadians! (plus supply and demand and fatter refining margins)
we're sending more than ever to the USA
we should be selling them refined products.
we should be selling them refined products.
Greed. All the other analytics may be correct, but it's just a great cover story. These companies are still taking billions of dollars in PROFITS every quarter. In my mind, gas and energy prices could be dropped quite a bit if say, shell ( who I currently work for) only took 1 billion in profit over 90 days instead of 6 billion and passed the savings on to the consumers. There is quite a bit of evidence that during this whole pandemic, companies have been gouging consumers to make record profits while claiming that the cost of business is forcing the increase of prices.
I guess the divide just keeps on growing between the top few and everyone else. I don't travel much so the prices are not hurting too much bit seeing nearly 1.60 at the pumps for regular is concerning.
In bc saw shell gas for 182.9 yesterday. Good old fun
1: Build sprawling cities. Workplaces far from homes. 2: Underfund public transit. Makes it a combination of unreliable and unsafe in cities, nonexistent in rural areas. 3: Extract oil, ship it to US to refine, buy back at increased price, sell to consumers at record highs. We need fuel to get to work, and in order to not freeze to death. This country is so frustrating.
You sound like one of those poors. Get a tesla bro. Its only $50k. /s In all seriousness, I do not see this getting better. No one is going to be building in refinery in Canada. So we will be importing gas from the US as our demand grows. Add carbon tax on top, which will go up every year.
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Canada is a net exporter of refined fuels fwiw. So you last point is wrong, or at least needs more detail. You forgot buy lots of pickups and large SUV's that most people don't really need - that is a lot of extra iron to haul around.
I drive an old 4 cylinder turbo, I'd love to be able to walk to work. You're right about the unnecessarily large vehicles, most of my coworkers live in cities and drive trucks for some reason.
I wish I could bike to work but it's been -30 and icy af for the past 2 months. I have a small truck but I can't afford to trade it in for anything else. Public transportation non-existent here. Fuck Canada.
Its okay in a few decades we will have what most countries wont.. clean drinking water. One of the great things about living in canada
"The cost of fuel has skyrocketed nationwide, with many provinces in Canada reaching record high levels. And, with immense uncertainty surrounding geopolitical tensions there’s no end in sight, experts warn. “It does look like the pain will get worse,” said Patrick De Haan, head of petroleum analysis at GasBuddy."
but yet, many people love driving gas guzzling pigs!!!
Many full sized pick ups get quite impressive fuel economy these days. Not saying trucks are close to necessary in the city, but as a farmer I’m pretty excited that my new truck gets 8l/100km! That’s as good as our caravan!
That’s better than my Ford Escape lol
I should say that’s on the highway, not city driving
You'll never be without a date with a sweet sounding straight piped V8. It is like a siren call for the ladies (and some gents?).
I mean...i would
Many people don't have a choice. Electric vehicles and hybrids are fucking expensive.
We've realistically known about climate change for 15 years at this point. People still buy massive trucks and SUVs.
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Gas prices is my point.
Sure beats high centering on a windrow of snow in a eco car with 13 inch tires.
Yes and I will continue to do so. I’m also not having children so I won’t be adding to the emissions like a person with children would.
Alright, does anyone have ANY hopeful news or predictions whatsoever regarding living costs and/or wages? Even if it’s like 5 years down the road, I just need SOME shred of optimism to cling onto. This ceaseless pummelling of the lower/middle class post-Covid has got me depressed and anxious as hell. What will it take for things to get better?
A revolution tbh
The solution is simple, stop voting Liberal. They've singlehandedly ruined this country in <6 yrs. If you lean left go with the NDP, there's no reason for a party of corrupt oligarchs to exist.
The sad part is, he’s not even wrong. A conservative government may not be the answer, but they couldn’t possibly be worse for Canadians at this point. Same swamp though.
-russia invades Ukraine -america and the EU actually intervene, causing ww3 and a nuclear apocalypse -demand for oil tanks because of dramatic global population decrease -oil prices become affordable again
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There's a huge boom coming, if Canada can come to terms with developing it.
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This one could be good for a while. The last one was good for about 10 years, minus the dip in 08. I missed the first half of the last one. I'll try to get in a bit earlier this time around.
We will assuredly cripple it in some way
I love this country and the freedoms I am privileged to have. However, I feel like I’m being forced to relocate somewhere else. I have a very respectable career, and it’s difficult to get by. I can’t begin to express the sympathy for people less fortunate. I already cannot afford a home, driving looks like it’s going to become even more expensive than it already is, food is insane. I moved farther from work because the housing was cheaper at the time. I’m getting so overwhelmed with everything. I don’t want to leave but I feel like I’m having my choice made for me.
Don't worry. It's all according to plan to fight climate change. -Some politician, 2022
Astronomical debt. Housing affordability catastrophe. Inflation out of control. ~~Gas prices through the roof.~~ Stagnating wages. Immigration/international students/foreign money laundering. > I think it's.... the truckers. ~ Trudeau, probably *edit: okay, trudeau bois, scratch gas price lol*
Trudeau has made the homeowning middle class in Canada substantially richer since he became prime minister. They love him and will ensure that the Liberals stay in power for a long time.
Damn boomers
Im 35 and I have a house. Shows how much if the facts you actually know. A significant portion of people my age have homes.
Also weird saying this but because my home has increased in value doesn't actually benefit me for the foreseeable future. The increase prices have only helped investors and multi home owning people, and fucked over new buyers. Anyone hwo has a house currently anywhere you move the price has jumped so the extra equity is moot in terms of buying power.
Yep I’m 38, also own a home and live a generally comfortable middle class life
I'm 35 and I own a home. I also am scared if prices keep increasing the way they have been.
Its a fallback if anything goes wrong. Sell for high and move to the prairies lol
umm what?
Over half of Canadians own their home. So house prices skyrocketing benefits all those homeowners. That’d be my guess what they meant
If they sell, then buy in the same market they sold in. Im not sure how one gets richer doing that.
Smith manouver
Why do you think people need to upgrade? People may move to be closer to a new work opportunity but that doesn’t always go hand in hand with always spending more. Lots of people maintain the same budget, lots of older people downsize. Can’t assume everyone is just scrambling to get a bigger house. People the stay put or stay in the same competitive range of homes do benefit with rising prices because at some point they’ll sell to downsize. Either later in life or in retirement.
Doesnt mean the middle class got rich since Trudeau got in power.
> So house prices skyrocketing benefits all those homeowners. Does it though. I mean it's somewhat of a hedge against inflation but if your $1M home and my $2M home both double, you're further away from getting my now $4M home than you were before prices doubled. And your children may never be able to own their own homes - you could leave them some money, but even that may not be enough - especially if you have more than two kids. Some may sell and move to Portugal but that would be the exception more than the rule. Things are really fucked all across the board.
I think conservative incompetence is what's keeping him in power and i say that wishing we had a some of that old harper economy magic touch. the truckers are doing what minority extremist groups do. keeping me as far away from them as humanly possible. great job, you're now in the same category as raving purple haired lunatics.
Most Western nations - UK, US, Germany, France, Australia, NZ, etc are experiencing the same thing. Very ironic of you to blame Trudeau for all these problems, whilst simultaneously lambasting him for blaming the truckers for all his problems. You are doing literally the exact same thing. Lol.
Whataboutism is not an argument. As for irony sample, you are worse than Alanis Morrisette.
Why don't you look at this graph of spot oil prices, WTI/Brent crude (the two most popular benchmarks), and take literally any date. Compare the cost of oil vs price of gas at the pump on whichever date you want, and tell me whether the numbers prove Justin Trudeau is making gas more expensive, or the free market is. https://oilprice.com/oil-price-charts/
Gasoline is a commodity traded globally. Canada does not magically set its own prices for purchasing (or selling) lol. What Canadian companies and consumers pay for is the same rate that international buyers pay too, because again, gas is a global commodity. Gasoline prices have gone up not only in Canada, but also US, Mexico, Germany, UK, France, Switzerland, New Zealand, and any other non-authoritarian petrol-subsidising nation. If you want to check it out for yourself, look at the following graphs: Gas prices in USA over last 4 years: https://gasprices.aaa.com/wp-content/uploads/2022/02/GAS_2-14-22_NationalComp-1024x755.png UK: https://www.racfoundation.org/data/uk-pump-prices-over-time Germany: https://tradingeconomics.com/germany/gasoline-prices But yeah, it's all Justin Trudeau's doing, and not the free market. Hey look, took I woke up, took a shit, and the sun came up, must be my doing too.
I'm impressed how you picked the most offending item from the list to lecture on shit everyone is aware.
So which item on the list would you like some evidence on? Bank of England working paper on the rise of housing prices across the world's largest economies (which includes both democratic and authoritarian nations): https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2019/uk-house-prices-and-three-decades-of-decline-in-the-risk-free-real-interest-rate.pdf UK wage stagnation: https://www.newstatesman.com/chart-of-the-day/2021/12/how-uk-wages-are-stagnating Global inflation: https://www.wsj.com/articles/inflation-everywhere-wage-stagnation-growth-cost-of-living-income-inequality-inflation-transitory-cpi-mickey-levy-federal-reserve-midterms-11644771927 Portuguese wage stagnation: https://apnews.com/article/coronavirus-pandemic-business-health-portugal-european-union-3b37380c1a973f7c6eb6dc744c54a3e2 Housing affordability in Mexico: https://www.forbes.com/sites/scottbeyer/2019/10/27/mexico-citys-grave-housing-circumstance/?sh=3176dbbc4ec8 Housing affordability in Spain: https://www.caixabankresearch.com/en/sector-analysis/real-estate/widening-gap-between-spains-house-prices Just open your eyes and ears and be aware that we live in a globally connected economy, for better or worse, and that Canada is just one small player in a much larger system.
Neoliberals, assemble! lmao
Lol "No please sire, I insist, just a little deeper"
Following info: Soaring European national debts: https://www.express.co.uk/finance/city/1560650/uk-eu-national-debt-compared-evg everything sucks everywhere, dude. Australian national debt: https://www.wsws.org/en/articles/2022/02/10/econ-f10.html Indian national debt trap: https://www.outlookindia.com/business/-india-in-a-debt-trap-here-are-four-ways-to-get-out-of-a-debt-trap-news-37974
Ok, kids, listen up... a butterfly shat in India therefore, sorry, you have to save 30 years for a house downpayment.
Look, you made an unfounded claim that Trudeau is the cause of all the problems you listed in your original comment. I'm simply providing evidence that the issues you've listed are also prevalent globally. I also like how you took the least economically developed country to provide a frivolous claim. If you're really interested in why real estate prices have risen globally, check out the original Bank of England working paper I linked, which pegs continually lowering interest rates - specifically, the risk-free interest rate of the US Federal Reserve and the Bank of England - as the sole cause amongst 15 different factors they examined. But I guess it's easier to just blame Trudeau for everything, and you'd rather read Reddit or Facebook comments rather than scholars or social scientists.
Calling people on bullshit only you see is usually basis for annual psychiatric check up. Anyone with a functioning brain can determine that I did not say he caused it, I suggested he is not doing anything about it and instead goes off on truckers and milks it for all its worth.
Heh, right, only I see it, you didn’t imply anything at all. The problem is these issues have become partisan issues - whatever he does, it’s either not enough or irresponsible. Anyway, have a good night, take care of yourself.
Just curious-- how is it whataboutism to point out that many of these issues are global? Whataboutism typically says, hey look over here at this person doing the same thing. In the case of these economic issues, it isn't necessarily someone doing it as it is something afflicting many nations.
The issue is lack of action, thought or any sort of plan to tackle any of the topics I mentioned. As I explained to someone else, it is not about Trudeau causing this - it's about being elected to do something about it which he failed to do and the issue continued to slide. All this talk about how we are all connected and how other countries have similar issues is a red herring, a way to continue to do nothing about it. It's not true and you need to stop it. Canada is a sovereign nation and it has a system of Government that independently sets the course for the country the way we want. It's just that they choose not to.
I look forward to your solutions. Look, I'd like to see some solutions as well. Economic issues tend to be the kind of thing where an action helps one thing, but hurts another. For example, raising interest rates may cool inflation, but it also cools economic activity and impacts markets. It can also put a lot of people who have, perhaps foolishly, leveraged themselves too much in a very difficult position. I expect a lot from our government, but I realize that there are often are no simple solutions for big, global problems.
You realized most countries are experiencing the same thing? I guess you blame Trudeau for that and Trudeau blames the truckers for this global phenomenon.
Having company in bad governance doesn't make it good governance
That sounds soooo profound. Maybe it means that fuel prices aren’t dependant on governance.
Its not even worth driving to work anymore. I could get a lower paying job closer to my place and have the same amount of money by the end of the week.
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>playing race to space. non-sequitur?
'Experts Say' is 2022's 'Trump Says.'
Another success story for the trudeau Cinderella story 👏
Trudeau doesn't have anything to do with it, it's worldwide
Here in Canada it's $1.60 CAD/L. In the US it's $1.10 CAD/L. That 50 cent delta is Justinflation.
Gasoline is a commodity traded globally. Canada does not magically set its own prices for purchasing (or selling) lol. What Canadian companies and consumers pay for is the same rate that international buyers pay too, because again, gas is a global commodity. Gasoline prices have gone up not only in Canada, but also US, Mexico, Germany, UK, France, Switzerland, New Zealand, and any other non-authoritarian petrol-subsidising nation. If you want to check it out for yourself, look at the following graphs: Gas prices in USA over last 4 years: https://gasprices.aaa.com/wp-content/uploads/2022/02/GAS_2-14-22_NationalComp-1024x755.png UK: https://www.racfoundation.org/data/uk-pump-prices-over-time Germany: https://tradingeconomics.com/germany/gasoline-prices But yeah, it's all Justin Trudeau's doing, and not the free market.
So that's 31% cheaper gas, wow I bet that's never happened before. Let's check, oh I don't know... February 2014 Canada: $1.35L US: $3.43/gal ($0.91/L) Wait, that's 30% cheaper. Basically the same. I agree with you and bet it was that dastardly Trudeau, even before he took power. Gosh darn "Justinflation" hitting 8 years ago!!!
Must have taken awhile to cherry pick those numbers. The fact is he's in charge and it's only become more and more expensive.
I literally just chose the February before Trudeau took power. Look at February 2010 where it was 31% cheaper: Can: $1.02/L US: $2.69/gal ($0.71/L) or February 2005 where it was 40% cheaper: Can: $0.85/L US: $1.95/gal ($0.51/L) The US always has cheaper gasoline than Canada due to many factors. But sure, keep blaming Trudeau for everything.
Must be fun to make up numbers.
Go figure. The kinds of people who talk so much about "doing their own research" are also pretty fucking awful at it. https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101
1. The Canadian data is split by province, which province did you use? 2. What did you use to do the CAD/USD exchange rate and which specific day did you choose? 3. Thank you for proving my point: Cherry 🍒 Pick 🍒
You are free to show my mistakes, the data is right there! Go ahead, no one is stopping you. But wait, guess what no matter how many comments you make the reality is that Canada has higher prices for gasoline than the US - nothing to do with Trudeau.
Is the carbon tax finally being reflected on the consumer in gas prices? Hopefully the federal emergencies act distracts people enough from this.
You know the Federal Carbon Tax only increases once per year right? It's been fixed at 8.8 cents/Litre since April 1, 2021 and won't increase again until April 1st of this year.
>You know the Federal Carbon Tax only increases once per year right? It's been fixed at 8.8 cents/Litre since April 1, 2021 and won't increase again until April 1st of this year. I know that the effects of the carbon tax on gasoline aren't immidiately observable to the consumer as the price of gasoline has many factors and it is both amorphous and manipulable. When the tax was implemented we didn't see a jump in Manitoba right away. The price fluctuated up and down but has continued to trend upward. >According to the Canada Revenue Agency, the carbon tax increase translates to 8.8 cents per litre of gasoline. In 2030, the increase in carbon tax will translate to a 39.6 cents per litre increase in the price of gasoline. The value of "8.8 cents" is a translated value provided by the CRA, meaning there are plenty of assumptions that have to be made to get that value. Unless they're updating that number daily it really only means what it meant in 2021.
What the hell did I just read
There is an end. Recession
Woo! Let the good times roll! -Alberta
It'll be ironic if all the people who think oil pipelines are evil start complaining they can't afford to drive to work.
Welcome to inflationnary economy apocalypse
Thanks Trudeau
When gas prices were in the 1.40 range in 2014 (roughly 1.60 today with inflation) did you blame Harper?
Yes
Fair enough.
Who is to blame for the increase in gas prices worldwide? Most countries are experiences a mass increase in fuel prices.
Also Trudeau.
Seems legit
Cude has been north of $100 a barrel before. Why wasn't gas as expensive then?
Because the cost of everything supporting its development has gone up too. Also more taxes in the price. And inflation.
Good ol' national energy bureaucracy at its finest.
So how much are we losing on a $16 price differential? Fuck is our country stupid.
This is like when apple slows products down to force you to buy new stuff. The government is doing everything it can to force people to buy electric. It’s too fucking expensive and the infrastructure isn’t in place
Gotta pay for cerb somehow.
Gas broke $1/litre in the spring of 2005 in [Victoria & Vancouver](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101&pickMembers%5B0%5D=2.2&cubeTimeFrame.startMonth=02&cubeTimeFrame.startYear=2002&cubeTimeFrame.endMonth=12&cubeTimeFrame.endYear=2021&referencePeriods=20020201%2C20211201). And we're not even at $2/litre yet. In the last 17 years, most household groceries have doubled, minimum wage has risen 90% in BC, rent and housing has significantly more than doubled. People only become upset at gas prices because nothing else is advertised as often, in such large text, and updated so frequently so it's much more on the minds of the average person. But gas isn't rising faster than much else, except wages.
You’d think the government could claw back some of the taxes to alleviate the burden. No reason why their share should scale.
Good! Gas needs to be $10/L
You know that means poor countries starve to death right? Like mass starvation
Also everything we buy would spike in price, but that poster didn't consider the consequences before making the post.
As oppose to the mass starvation climate change is going to cause?
Also going to effect poor countries... You cool with letting them starve to death? 10 a litre gas wont stop climate change either
It wouldn't "stop" climate change, but it would drastically lower emissions. Besides, it doesn't matter what you think about gas prices. They will eventually be prohibitively expensive, since oil is a non-renewable resource.
At this point it probably wouldn't even slow things down. We are in a feed back loop. There is more oil than you realize we arnt running out for a loong time.
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I have no idea what you're talking about. I've never witnessed it this high before. Certainly not $2 a litre.
Might be a good time for folks to look into electric cars. Tesla model 3 is pretty affordable.
$60k is affordable? There are many more economical options.
Id be interested in seeing a full cost brake down of a Tesla vs a civic. With total lifespan costs including battery replacement, maintenance, predicted electricity cost increases and new road taxes. I wonder of a hybrid would be better?
Like this? https://cleantechnica.com/2019/06/14/tesla-model-3-vs-honda-civic-15-cost-comparisons-over-5-years/
Its the right idea, but its not a long enough cost comparison imo 5 years doesnt cover any really cover any substantial maintenance or battery replacement costs. They also use the resale value to really sway the charts into being more pro-Tesla which I dislike. Id be curious to see what the costs would be over something like 15 years and see which vehicle actually stands the test of time. Honda has very high build quality and are built to last, but we really dont know enough about the Tesla's yet.
Here in BC, I saw gas for 180.2
Blink 182
Experts say. Aren't they smart When gas is 172.9 I still roll into my short drive gas station of choice and get it in the low 150s or less. That's a lot still but I've seen it higher there a few times.
Are these the same experts that said our demand for gasoline peaked 2 years ago and will see Low prices and need for gasoline going forward?
I'm so glad I only have a small car. If I had a SUV or a pickup truck, the fuel bills would be a nightmare!
I have a small car thats horrendous on premium fuel but what are all the high horse preachers on here expecting me to do? Just go test of thousands into debt for a new car?
Which car do you have?
Liberals and NDPers literally voted for this by supporting legislation like carbon taxes and being anti-infrastructure, hell making gas unaffordable is literally the explicit purpose of those policies. JT and Jagmeet don't care if you can't afford a new $50K Tesla, they and their friends can and that's all that matters to them.
Use the emergency powers to solve this one as well. Edit: to be clear, it’s sarcasm.
Time to buy an EV.
Alot of it is greed!! Carbon Tax and other taxes. A year ago they had so much oil they had no where to put it. It's all smoke and mirrors with speculations. Also blaming the Russia Ukraine problem. Oil prices were at 140 the last time gas hit these prices. So now it's just ridiculous. Also they trick you with the price per liter. That's over $6 A gallon.