LEITNER

WTF...$1.37, this is very bad

RDub

awesome!

viper_2_4

It probably has to do with hurricane Ike...

Gallagher

hasn't gone up here yet....

viper_2_4

come on Chevy Volt!... Although at $40k, I could buy a lot of gas with that...

shlammed

yeah it's because of speculators and the hurricane

once the hurricane blows over it will go back down unless it destroys some oil rigs

k_r_a_c_k_e_r

iTrader: (3)

lame.. good thing I have 40lts in my garage!

1999blksi

good thing I have a moped

buddhafest

even when it blows over it won't go down right away, those companies will wanna keep it up.... prices go up instantly.. but rarely falls down as fast..

d16y8

just don't buy it

zyepher

1.39

Cynikal.Mindset

it's not cuz of the hurricane it's because at the OPEC meeting last week they decided to cut oil production by like a million barrels or something a day.

LEITNER

and they decided to not let the price drop below $100 a barrel ever again....they like the size of the profits they are getting

JoonyaSI

this was on the news all week ... no surprise here ...

kingjames1983

It was actually 500k a day. The current price is inflated by the oil companies. The US saw prices climb at the highest .9 cents a gallon because of Ike. We on the other hand had it rise about 50 cents per gallon.
This increase has nothing to do with OPEC cutting its production as its not reflection on the price of oil which is under a $100 a barrel for the first time in 5 months. The also never stated they didn't want it to go below a certain price. They pretty much said they dont want it to keep falling at such a rapid pace. 3 days after the production cut was annouced and before it, history of crude prices would usually show speculations driving the prices up. Not this time! prices drop the days before and the 3 days after... including thrusday when it dropped 1.77 USD PB.
Therefore its clear that this has nothing to do with oil production and more to do with raising the prices for Canadian consumers because they get no bush back from anyone including our government. Example is clear with the lack of increases in the US gas prices.
Also in the US according the AAA the average is around 3.70 per gallon where as at the height of the oil increase it was well over 4.00 per gallon average. Now look at Canadian gas prices and its clear we have seen no where near that drop at the pumps.
I also find it hard to believe that the 3 major oil companies it Canada can not be hit with price fixing like the gas stations in Quebec a while ago. Every gas station unjustafiably raised their gas prices at the same time and it was know before they did it.
We are clearly being taken advantage of simply because they can!

Jay

iTrader: (1)

It is because of the Hurricane, it's ramping up just like Katrina did, so far I believe 10 refineries have been shut down due to impending weather

Cynikal.Mindset

its funny cuz now people steal gas by drilling holes in people's tanks...its a fairly common thing these days...it makes me laugh

xray

Yeah, so we're paying for the storm salaries for those workers not working due to the hurricane, not the oil companies. They are a bunch of smart bastards.

07Ex

Bottom line, the oil companies want to get their cut, and since we have no choice but to pay, they raise up the price to whatever they want.

Cynikal.Mindset

if I worked at a gas station and people stole gas I wouldnt care...