2164 replies to this topic

[DavidC]

Filled up with premium at Costco in E-Town this past weekend for 109.9.

Prices have since jumped, with the big names at 104.9 regular and 126.9 premium.

Whether prairie or island pricing, what we pay for fuel in this country appears to do nothing to dissuade young parents from absolutely needing an SUV once their first junior comes on the scene.

And we're a nation seemingly obsessed with catchphrase acronyms AWD, 4WD, x-Drive, etc., which does little for economy.

But naturally the automakers bombard with tales of their latest crop of SUVs, CUVs, AWDs, etc. as being the most fuel efficient ever!

[Mike K.]

The rack price is falling so if you can hold off a gas purchase you'll likely start seeing lower pump prices this week. At $1.57 which is where most stations are at it's a good 60 cents above the rack, but it should be in the mid-40s.

[Rob Randall]

Just topped up the Hyundai GasHog XLT in Chilliwack at 140.9

[Matt R.]

$157.9 on salty tonight.

Co-op is so short staffed they are 6-10 Monday to Friday and 10-6 Saturday and Sunday. Ugh. Makes me want to go to the full serve place sometimes.

Matt.

[Mike K.]

The rack fell again this morning down to 96.6, so 3 cents in recent days.

 

Hard to believe when it was in the low 90s you could fill up around town for ~$1.33.

[lanforod]

Costco was still 151 this morning.

[Mike K.]

The rack has plummeted to 93.3 from nearly $1 just days ago. Watch for reductions, so if you can, hold off on filling your tank. Theoretically we should be in the high 30s.

 

On the mainland I'm seeing prices in the mid-40s.

[RPPB]

Still waiting...always amazed how quickly it increases and how slowly it comes down.

[Jackerbie]

It's the usual dance in Richmond, but admittedly lower than it usually drops. 149.9 last night, 152.9 this morning, 142.9 currently. Was as high as 165.9 at times over the weekend

[Mike K.]

The rack is literally plummeting with 88.8 this morning in Nanaimo and 88.8 at Bare Point (that one's for you, shoe!). It was just a touch below $1.00 a dozen days ago.

 

Add taxes and profit, and we should be at a pump price in the low 30s, but alas, everywhere you look gas stations are sitting at 1.57. Even Costco is sticking to $1.499.

[Jackerbie]

The rack is literally plummeting with 88.8 this morning in Nanaimo and 88.8 at Bare Point (that one's for you, shoe!). It was just a touch below $1.00 a dozen days ago.

 

Add taxes and profit, and we should be at a pump price in the low 30s, but alas, everywhere you look gas stations are sitting at 1.57. Even Costco is sticking to $1.499.

 

So what you're saying is that the price in Vancouver is cheaper than Victoria? Just checked Gas Buddy, prices have dropped to 135.9 within the last half hour. Note that there is no Costco gas in Vancouver, you have to go out to to the valley for that.

[Mike K.]

Oh, I’m talking about Victoria.

Vancouver’s rack price is slightly lower but the taxes are higher.

[Sparky]

Costco in Okotoks Alberta is selling gas at 88.9 cents a litre today.

I’m still glad I live here though.

[Jackerbie]

Low of 129.9 in Richmond today, though most stations appear to be in the mid 130s

[Mike K.]

It's still trickling down penny by penny here. Lots of stations at 1.509. Which is crazy. That's a 65 cent mark-up with taxes only accounting for what, 45-odd cents?

[Cats4Hire]

Costco is 139.9. At this point if you live near it it's probably worth the membership just on gas alone.

[Mike K.]

Wow, that's a 5 cent drop from 1449 yesterday evening. Watch for it to continue to slide to around 1.30 by week's end.

[Mike K.]

Costco is now at 1.359, a full 30 cents lower than most gas stations on the south Island were a week ago.

[Jason-L]

It's almost like gas prices aren't tied to the rack price, but rather generated by an algorithm designed to maximize profits.

[Mike K.]

There's a little more at play here. Consider the gas station that bought supply at the peak. They'll have to sell that supply at the appropriate price, and chances are the delivery of their gas coincided with the delivery of nearby stations so several are now faced with the costlier supply. Some stations will blend supply, so that average will give them an edge and they can lower their price faster. Other stations will just ride the wave as their cheaper supply wasn't depleted but they raised their prices to coincide with their nearest competitors.