2164 replies to this topic

[Mike K.]

Rack is 87.8 today. I guess the oil crisis is over.

[Intercontinental]

So the world is collectively bemoaning lack of action on climate change, and also bemoaning rising prices of fuel. When does the hypocrisy get called out?
Increased prices mean less demand, no? Increased taxes means more funding for alternatives.

You’d think that only the village idiot would expect his life to go unchanged while calling for societal change.

[Mike K.]

How many more taxes can you add on to fuel before we officially enter crazytown? 50% of the pump price is already tax, and per-capita oil consumption in Canada is higher than it is in the US, where gasoline is significantly cheaper.

[Jackerbie]

How many more taxes can you add on to fuel before we officially enter crazytown? 50% of the pump price is already tax, and per-capita oil consumption in Canada is higher than it is in the US, where gasoline is significantly cheaper.

 

Look at the UK. Quick and dirty math shows that the fuel excise tax alone is 50% of the pump price, plus there's 20% VAT charged on top. Using their 59p excise tax plus VAT applied to the current Nanaimo rack rate, the cost at the pump would be about $2.244/L

Edited by Jackerbie, 24 September 2019 - 08:12 AM.

[Mike K.]

Yes, the UK is a very expensive place to live.

[rjag]

So the world is collectively bemoaning lack of action on climate change, and also bemoaning rising prices of fuel. When does the hypocrisy get called out?
Increased prices mean less demand, no? Increased taxes means more funding for alternatives.

You’d think that only the village idiot would expect his life to go unchanged while calling for societal change.

 

And of the current taxes collected on fuel can you advise how much is directed towards development of alternative energy sources? 

[rjag]

Look at the UK. Quick and dirty math shows that the fuel excise tax alone is 50% of the pump price, plus there's 20% VAT charged on top. Using their 59p excise tax plus VAT applied to the current Nanaimo rack rate, the cost at the pump would be about $2.244/L

 

Yup and they have major highways with 70-80mph speed limits, actual ongoing investment in new road & rail infrastructure where someone that doesnt drive can actually travel from one community to another, a far more accessible health care system (2 tier) de-regulated flights and far cheaper food costs etc. Heck they even have Uber...in other words they are a totally different society

[Mike K.]

It's also a very compact country with short driving distances between urban centres (by Canadian standards).

 

Their vehicles are smaller due to cramped urban areas, their winters are very mild compared to Canadian winters, and they don't have the sort of terrain we encounter outside of our cities, i.e. going camping in the UK means driving down a country lane to the "woods." Their Opels wouldn't last an hour beyond Youbou.

[LJ]

Look at the UK. Quick and dirty math shows that the fuel excise tax alone is 50% of the pump price, plus there's 20% VAT charged on top. Using their 59p excise tax plus VAT applied to the current Nanaimo rack rate, the cost at the pump would be about $2.244/L

They are going to be screwed when everyone changes to electric vehicles and now the government loses so much income they will have to cut the National Health Plan.

I guess they will just throw those taxes on to electricity and being green will mean being expensive.

[DustMagnet]

They are going to be screwed when everyone changes to electric vehicles and now the government loses so much income they will have to cut the National Health Plan.

I guess they will just throw those taxes on to electricity and being green will mean being expensive.

 

Early adopters usually get some breaks, but ultimately once something is mainstream it shoulders the burden of taxation.  There is no free lunch healthcare.

[Mike K.]

You might have noticed gas prices surging this morning.

Once again, this does not appear to be related to a wholesale price increase which remains at 90.9 cents. Pump prices skyrocketed overnight to as high as $1.539 from what I’ve seen, which is a 63 cent gap.

Costco is still priced at $1.369.

[Jackerbie]

^ We surged over the weekend and have come down a little. I filled up for $1.389/L on Friday night. Saturday we were at $1.589, and we're now riding the waves between $1.479 and $1.549, depending on the time of day you drive by (evening is always significantly cheaper than morning and afternoon, because why not)

[LJ]

In southern Spain cheapest gas I saw was $1.75, In Morocco $1.38.

[DustMagnet]

Costco rhymes with Morocco, hence the similar pricing.

This Theory Of Gas Prices makes as much sense as any other and you know it.

[Mike K.]

Filled up at 1.399 later in the day yesterday.

[Mike K.]

Not sure what's happening, but Victoria's and Vancouver's rack prices have skyrocketed in recent days to 97.6 and 96, respectively.

 

Kamloops, meanwhile, is 79.7 and Prince George 73.9. Edmonton is 67.2 and Saint John, NB 62.8.

 

Our wholesale price is more than 50% higher than what much of the country is paying.

[Mike K.]

98.4 rack this morning, Costco is at 1359, most stations at 1429.

[Cats4Hire]

So is there any real reason gas is still 1.379 at some places (where it was this morning) but others are suddenly up to 1.579 (aside from the obvious greed of course, they usually don't jump that high that quick though)

[FogPub]

At our neighbourhood station earlier today I noticed diesel was priced higher than gas, which is very unusual.

[Mike K.]

The rack rate is hovering at just below $1.00 so if you see gas in the $1.40 range, fill up. This time it's a jump tied to the wholesale rate.