Info on how fuel prices are set in Canada
No hating just the facts.. For people complaining about high fuel prices in Canada this explains all From CBC news No matter where they originate, oil products are priced in U.S. dollars. An...
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Little Kopit wrote:Lessmore wrote:
I have no confidence in CBC news,
The CBC is one of the best for checking facts before they go to air.
On gas prices, Atlantic Canada (NL, NB, NS, &PEI) all have regulated fuel prices. Look up utilities board, or some such for each one via google. Although I can post them all. Gas Buddy will not give you as much information as those provincial sites. & they will also explain what sources they look at before making the weekly or bi-weekly price change.
:C
It's exceedingly rare that "fixed prices" are a benefit to anyone but the seller, and in this case the government.
As part of the 'regulated' prices there is a MINIMUM price as well as a maximum price.
In NS currently it includes a minimum of ~$0.048 / liter retail markup plus $0.0665 / liter wholesale markup plus a $0.005 to $0.022 / liter transportation allowance.
That comes to a total of at least $0.12 markup over the 'benchmark' price.
In Ontario currently it's about $0.10 over market price, which typically is about $0.05 under the 'fixed' wholesale price.
So your 'fixed' price is costing you about m$0.07 liter more. That sounds like a 'broken' system to me.
