gas , prices and all that

So we are in the midst of a new gas price gouge again and the gas companies would have us believe it is because of a fire at an Imperial oil refinery in Nanticoke or someplace. Seems odd doesn’t it that Petro Cnada’s prices and Shells’ prices also went up but then they would tell you it’s a very complex market. Is there any other commodity where the prices change so much and for so very little reason? Used to be that gas prices fluctuated once a month or so, then it was every week (up on Monday, down on Friday), now it was every day and especially at weekends or holidays. In my town gas prices are up every morning by some 5 cents and drop by 3 to 4 cents by evening. The party line says that the price is determined by the price the oil company got when buying a barrel of oil. Did the local gas station then sell all of it’s $1.09 a litre oil in the tanks this morning, replacing it with $1.05 a litre oil for this afternoon? I doubt it. The Gas companies also tell us that the price fluctuates so we the consumers always get the best price and that at weekends the price goes back to where it should be after we had enjoyed a discounted price during the week. This implies that we are to believe that the mega-corporations who supply the oil and gas to us, out of the generosity of their hearts, discounts the price of the 5 billion gallons of gas sold during the week to below market value so we can get a better price. I seem to recall that Imperial Oil posted profits last year of $24 Billion or so, most of which would go where? To the stockholders, I presume. Seems very obvious to me why the price of gas was $0.78 a litre before Imperials’ fire, $1.10 during the shortage and is now hovering at $1.05 a litre when Imperial claims to be back to 100% capacity. Maybe I should launch a protest, quit driving for a while. Oh but I have forgotten 1 small middle point here, I commute 110 Km to work and back each day.

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