Question: Who is to blame for the sudden and very huge increase in the price of gasoline at Ottawa pumps?
I personally blame the greedy oil companies, and I blame Canada’s competition bureau, which even today can’t seem to understand that what we are faced with here is an unprecedented act of collusion and price fixing.
Sorry but I don’t know how else you can describe it.
Hurricane Ike did very little, if any, damage to oil production in Texas which has resulted in crude prices to fall below 100 dollars a barrel for the first time in more than eight years. Oil futures fell to 98.77 US a barrel yesterday, their lowest point since March of 2008.
You would think given those facts that the price of gasoline would have dropped even more than the 13 cents a litre increase we saw last Friday. Such is not the case.
Gasoline across Canada today is selling higher than it was when crude oil peaked out at $147 a barrel.
How can that be?
Gasoline sold for about 1.32 a litre in Ottawa with crude prices above $147 a barrel.
And now it sells in Ottawa in the range of a $1.30, down maybe a couple cents since Friday with crude oil selling below 100 dollars a barrel!
Worse of course is that we consumers have no choice. All service stations are within a couple cents of each other. Clear illustration again of widespread collusion. Or is there another explanation?
And this question: What, if anything, do you want the government to do about it?