Blogs and changes tagged with 'price gouging'

justice at the pumps? is such a thing even possible?

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Written by Kate
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When I first heard about the Canadians Stand Up to Gas Gouging Group on Facebook, I thought to myself (in a very judgemental tone), 'oh these ridiculous people, don't they know that gas should be expensive? maybe $1.31 is closer to true cost of gas. isn't it about time that we stopped getting the 'free ride' sheesh, doesn't anybody know anything?" How high and mighty of me, right? Well, I redeemed myself when I turned down the judge-o-phone and drilled a bit deeper.

I went to the Gas Gouging Meter which, I was taken by surprise to learn, is a project of the Canadian Centre for Policy Alternatives, an organization I happen to hold in very high esteem. What I learned there led me to think: if one could swallow a set of judgemental thoughts, I would....it turns out that, "With today's crude oil price of $62.86 USD per barrel and the US dollar at $1.10 CAD, the price of regular unleaded gasoline in Vancouver should be 94.8¢ per litre at normal profit margins. At a price of $1.30 per litre, you are paying 35.2¢ per litre in pure excess profit. Across Canada, an extra margin of 35.2¢ per litre generates an additional profit of 35.2 million dollars per day."

And while I am not advocating for cheap gas so that we call all gallivant around carelessly in our cars while the planet gets dirtier and dirtier,

 

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