At the time of writing, the price on the open market for a barrel of light sweet crude oil was $52.33; a vast improvement over previous rates - in fact, at one point during the month of June 2008, a barrel was selling for slightly more than $147.00.OK, so there have been marked improvements of late.
I'm still at a loss regarding the apparent “shortage” of oil months ago. Has anything truly changed in the interim? The US is still raging an impossible war in Iraq; other western nations are involved in "peace keeping" initiatives in Afghanistan. So, why the reduction of around 60%?
Here's the thing. Have gas prices reduced by anywhere near the same ratio? Short answer; no.
This past Sunday, here in rural Ontario, a local gas station was selling a litre of gasoline for $0.733. A bargain, relatively speaking. I got quite excited since the night before, driving into Toronto, I had filled up for $0.745 a litre. Note to city folk; prices up here for gasoline are often 3 - 6 cents a litre better on regular!
Prices should, however, still be lower.
Our home is heated by oil. And yes, we've seen the price of oil come down these last few months, too. Heating our home and, in our case, hot water, is not a luxury. It's a necessity of life. My 910 litre tank was filled two days ago with 755.5 litres of oil. At a rate of $0.919 per litre. When I saw our bill, I was pleased - and simultaneously angry. Why is the price of home heating oil still way higher than gasoline? I understand that processing for both products is required. But why such a discrepancy?
I even conducted my own mini-survey on the phone yesterday. Seems when compared to those providers I contacted, our supplier was $0.02 more per litre.
Please... kiss me first - and don't blame everything on the Middle East.
To friends in Europe - I know, your prices are considerably higher.
To friends in the US, your prices are lower still - and that's using gasoline that Canada has sold to you!
2 comments:
As Sheryl can tell you, I harp on and on about this everytime we are out in the car. All I need to do is see a gas station with the price listed and I see RED! and its just not the numbers posted. Come on, way back in the dark ages, say the 90's maybe, when oil was in the $50 a barrel range, were we paying .80 - .84 cents a litre? I wish someone could tell me. We are not even being kissed as we fill up!!!! Can you say "SCREWED", just my thoughts again, Nancy Jane
None of this makes any sense, does it?
Here in the semi-boonies, gas prices at the pump fell over the weekend... why?
It's not that I'm complaining; I'd really just like to understand.
And to my earlier point; why are (generally) prices at the pump lower here (Peterborough and the Kawartha Lakes regions) than the big smoke -- Toronto -- where there are major distribution centres and, if I'm correct, refineries are closer?
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