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Gas averaging more than $1.20 a litre across Canada
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CTV.ca News Staff
Date: Fri. Apr. 18 2008 6:40 PM ET
Gas prices have jumped again, surpassing the $1.20 a litre mark in most major cities across Canada.
According to Gasbuddy.com, prices in Quebec City are hovering around $129.5 a litre. In Victoria, prices are about $1.24 a litre.
In southern Ontario, in cities like Toronto and Hamilton, prices at the pump are averaging about $1.20 a litre.
Prices are even higher in northern Ontario cities.
Gas stations in the Halifax area are showing prices in the $1.28 a litre range while some stations in Winnipeg and Vancouver have prices of about $1.26 a litre, reports The Canadian Press.
Gas prices are above the $1.20 mark in Calgary, Regina, P.E.I. and Winnipeg.
Edmonton, in comparison to other major Canadian cities, appears to have the lowest price, $118.9 cents a litre.
Dave Collins, the owner of an independent filling station in Halifax told CTV Atlantic "it's going to be a miserable summer for everybody."
"It's really simple because we have the second highest tax regime. Only Newfoundland has higher taxes than we do. Nova Scotia is a very high road tax environment."
Diana Whalen, a Liberal MLA in Nova Scotia, agreed provincial taxes have a lot to do with the high prices in her province.
"Our party has been calling for a 4 per cent cut to the fuel tax which is the tax on every litre of gasoline. We've been saying that for quite a few months now and the prices at this point in time are showing we're really not competitive with the other provinces."
The high prices have people across Canada grimacing at the pumps.
"People are frustrated by the high gas prices and bracing for $1.40 to $1.50 per litre this summer across the country," Jason Toews, co-founder of Gasbuddy.com, told CTV Newsnet on Friday. "It's going to be a tough summer."
Liberal MP Dan McTeague is accusing refiners of taking advantage of consumers and said market fundamentals do not support the rising prices.
He told CTV's Mike Duffy Live that refineries, the oil industry and the four major oil companies in Eastern Canada are taking advantage of consumers.
He said the only solution is to build more oil refineries, and for the federal government to toughen the Competition Act to ensure prices are fair. Though he said the feds don't have the authority to regulate gas prices.
McTeague said he expects much of the next week explaining to his constituents why prices are so high.
"A lot of people are at the breaking point and I suspect it's going to be very hard for a lot of us to explain exactly how we got here, but there's no doubt this is going to cause enormous pain for just about everybody."
New Democrat finance critic Judy Wasylycia-Leis, agreed it will be a prime topic for discussion while Parliament takes a break next week.
"I think they're going to be pretty upset their price of gas keeps going up at the same time the government is giving another $1.5 billion in subsidies to the oil sands, to the big gas companies, the big developers, and yet nothing is being done to protect consumers," she told Mike Duffy Live.
But Conservative MP Rick Dykstra said the government has taken big steps -- lowering the GST by two per cent, putting money towards renewable energies and alternative fuels, helping out the provinces and offering tax credits for bus passes.
"We think we're trying to balance the needs of individuals and the economy with ensuring we're working towards fighting greenhouse gas emissions and lowering them and being responsible with our country's dollars," Dykstra said.
Edward Jones analyst Lanny Pendill said Thursday that pump prices have not even come close to catching up with refiners' soaring costs.
"The net impact has been the profitability at the refineries has declined significantly from last year's levels,'' he said.
"The refiner, in essence, is absorbing some of that cost increase of oil.''
BNN's Linda Sims reported an ease in crude oil prices Friday. Still, she said prices remained above US$114 a barrel.
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I applaud the budget, even though Health Care and education may stay unscathed. Sadly this cannot last and I worry to later this year where cuts will become enviable. If anything, this provides the Wildrose Alliance plenty of ammo when an election is called.


Comments are now closed for this story
Steve in Fredericton
said
Why is it that the largest un-tapped oil reserve in the world is Saudi Arabia (they're all driving Mercedes and living like kings) and the world's second largest is Canada (we're paying $1.20 per litre and boardering on mass poverty)!?
Time we started refining our own oil to cheaply supply the Canadian market.
brenda
said
Shamaro
said
AV
said
MB
said
TimI
said
Lynn
said
Kate
said
John Spartan
said
Disgusted driver in Halifax, NS
said
Rick
said
Richard W in Kitchener
said
David
said
This is why its not cheap, Plus the Americans are forking over money for that oil.
poor soldier,
said
Dawn FA
said
Face it telling people not to drive won't work, too many people rely on their vehicles too much, our cities could not handle the influx of the sudden surge in commuters on the bus or transit lines, and who can afford to take a cab it most major cities?
Until the people we elected to look after our best interests put down their foot and say no more the gas companies will keep squeezing every cent out of our pockets!
Shamaro
said
Rob in Winnipeg
said
That one stupid mistake is now causing us as a major oil producing country to pay the same as those who have to import their oil.
Here's a point to ponder for today - Just maybe Venezuela President Hugo Chavez got it 100% right when he nationalized all his countries oil fields and kicked out all the oil companies.
Maybe it's time our government kicked out all the oil companies and nationalize all our oil fields and refineries?
Michele
said
Maybe we should take Venezuela's lead and charge a 50 precent royality fee when the price exceeds a certain amount.
Alberta only gets 2 a barrel now, regardless of the price.
We are one of the few western countries who allow foreign companies access to our energy resources.
Maybe its time to nationalize our oil industry and give Alberta a larger piece of the pie instead of the majority of the profits leaving the country/province.
Have all processing done in Canada benefiting Canadians via good paying jobs then sell it to the states.
MKZ
said
Eur
said
Comparing Canada to Saudi Arabia is laughable.
The vehicle fuel consumption and sizes are ridiculous here. Most countries on the world, America obviously excluded, learned 20 years ago that smaller vehicles consume less.
Frank Buchan
said
gord
said
Why don't I ever hear public outcry about the rising cost of coffee at Timmies?
It seems in this country, it is popular to complain about gas prices. Why not cut back on fuel consumption??? $1.20 per litre gas is here to stay!!
Dean
said
James
said
I have no sympathy. For all I care prices can rise higher...Then again I don't drive!
Jeff
said
Mike M
said
Brian.
said
1. Crude Oil costs
2. Refinery Costs
3. Taxes
With the crude oil price of $113.32 USD per barrel, and the Canadian dollar hovering at par (1 USD =1.01 CAN), we should be paying $1.17 per litre at the pump. Right now across the street the price sits at $1.20. What is an extra 3 cents per litre? About $3.3 million dollars PER DAY in pure profit to the major oil companies. In case your wondering, $1.17 per litre already includes a normal profit margin for the oil companies already. I have no problem paying a fair price if market conditions call for them, but lets call a spade a spade here.
James
said
Al
said
Deepak
said
Looks like Canada is not in favour of putting more refineries in Canada for fearing of losing revenue which the petrol prices are generating.
Doug
said
mac
said
Every bomb dropped by US war criminal regime drives the price of oil higher.
Until you denounce the US wars of aggression, don't whine about the price of gas.
Jeff Johnston
said
Government controlled gas prices ..no way! The Liberals can make lies about it all day and night.
Devon K.
said
My answer: carpool.
If you aren't carpooling today you're crazy.
Dave
said
Andrew
said
The next day some enviro group is going to say we should place carbon taxes on fossil fuels to curb "green house" gas emissions. With this all the opposition parties "demand action" saying that Canadians want a carbon tax, and it's our responsibility to pay more in the name of the environment.
Dave in Toronto
said
I bet the Truck drivers will Block the 401 again to make the Goverments lower Gas Taxes .
Joe/ Calgary
said
Layton in Moncton
said
Clayton
said
pp
said
David
said
Glenn
said
mred
said
If our government would stop selling our resources to the Yanks and China we could all be driving Mercedes and paying .07 cents a liter for gasoline like they do in Venezuela.
We are being taken to the cleaners, BIGTIME.
The CONS fiddle while Rome burns
Devon K.
said
1. Big Oil doesn't set the price of oil or gasoline. They sell oil on the commodity exchange where traders bid for it on an open contract basis. The highest bid wins the contract. Everyone is buying oil today because its a better investment than the stock market or the US dollar.
2. Yes Big Oil makes a profit because traders bid the value of that commodity up. That's the nature of the market place. Tough for us.
3. I have zero sympathy for my fellow Canadians in this pickle because every morning as I commute to work in my carpool I see 19 out of 20 cars and trucks with only one driver. If you want to lower your fuel costs - carpool, pool as many little trips into one big trip for errands, trade in for a more fuel efficient vehicle. The bulk of vehicles out there are still big SUV types. Again, I have zero sympathy for my fellow Canadians in this regard.
Joe/ Calgary
said
The higher the price, the better for the environmnet as it actually impacts the choices we make in life.
Paul in BC
said
I also wonder if the wars in the Middle East cause a supply issue with gasoline. All the military equipment, jets, frigates, tanks, heavy vehicles, transporting troops and goods across the world all use up an incredible amount of fuel, and what about the effect on the environment.
War, what is it good for???
Sean
said
Mike
said
Tim
said
Chris C.
said
pp
said
Fuel for driving is a small fraction of what petroleum products are used for.
So Stop making PC's, TV's and fabrics that are synthetic, Stop heating homes and business, stop making fertilizers, meds, etc, stop driving tractors to plant and harvest food, Stop shipping stuff on trucks, trains, planes, boats, etc etc etc...
Just saying stop driving is not the problem. The problem is that we rely upon petroleum so much for everything in our lives that we would be hard pressed to stop using it now.
What we need are really cleaver entrepreneurial chemists and engeneers that will develop new methods of creating all those products we now use....
GP
said
Come on people, its time to put the brakes on this free market experiment of the last 20 - 30 years...its not working any more, its all about greed now.