Gas watcher warns $1.20 a litre (Canada)

[ne_one]

By CHRIS DOUCETTE, SUN MEDIA
The Toronto Sun

Toronto drivers should be prepared to experience gas pains in the coming months as the price at the pumps climbs higher and higher, a leading gasoline watcher warns.

Gas prices in the city have already jumped by about 13 cents a litre on average over the past month, but that "upward trend" is likely just the beginning, predicts gasbuddy.com, which operates hundreds of price-tracking websites such as torontogasprices.com.

"I think (regular) gas will hit $1.20 a litre by the spring," Jason Toews, co-founder of gasbuddy, said yesterday. "Depending on what happens with the price of crude oil between now and then, it may even go as high as $1.30 or $1.40."

Even more troubling, Toews said he wouldn't be surprised if gas prices soar to $2 or $3 per litre in the next few years.

Full article:
http://cnews.canoe.ca/CNEWS/Canada/2...89006-sun.html

[civilzues]

so much for the economy improving!

[calgaryhhr]

I'm glad that I do not depend on driving too much. A full tank of gas typically lasts me approximately a month. An increased price sure does suck though. I only fill up at Shell stations now and over this last month the Shell stations in my area have been closed half the time as a result of not having any gasoline to sell.

[dindak]

Gas prices will go higher, how high and when is the only question.

The weak US dollar is responsible for much of the recent hikes.

[doh]

Perfect timing, with my snow plowing business just coming up.

[2002 Caddy]

Originally Posted by civilzues

so much for the economy improving!

Originally Posted by dindak

Gas prices will go higher, how high and when is the only question.

The weak US dollar is responsible for much of the recent hikes.

Actually high gas prices are a perfect indicator that the economy is improving... as the economy gets better, people drive more, use more gas, and from there it is simple supply and demand... When the economy tanks gas and oil prices collapse too...

The weak US dollar has everything to do with the balance of trade... do we buy more then we sell... if we buy more then we sell then we have a negative balance of trade and this places negative pressures on the dollar.

[Jimmy Jive]

Prices were just under a $1/L before this recession really took. What would cause such a increase? What does the government watchdog on prices have to say to any of this?

[yyz_ltz]

Originally Posted by ne_one

By CHRIS DOUCETTE, SUN MEDIA
The Toronto Sun

Toronto drivers should be prepared to experience gas pains in the coming months as the price at the pumps climbs higher and higher, a leading gasoline watcher warns.

Gas prices in the city have already jumped by about 13 cents a litre on average over the past month, but that "upward trend" is likely just the beginning, predicts gasbuddy.com, which operates hundreds of price-tracking websites such as torontogasprices.com.

"I think (regular) gas will hit $1.20 a litre by the spring," Jason Toews, co-founder of gasbuddy, said yesterday. "Depending on what happens with the price of crude oil between now and then, it may even go as high as $1.30 or $1.40."

Even more troubling, Toews said he wouldn't be surprised if gas prices soar to $2 or $3 per litre in the next few years.

Full article:
http://cnews.canoe.ca/CNEWS/Canada/2...89006-sun.html

"Experts" have been saying this for years. The oil companies have tested the water with $1.35/L fuel and they didn't like what they saw. And yes it is the oil companies manipulating the price. Maybe the eco aware public doesn't, but big oil LOVES people driving large trucks and SUVs. I believe the "experts" said we would be paying $2/L two summers ago.

[rueben44]

Lets not blame the dollar or any thing else the market is rigged and they play all kinds of games. I said a while back this was going to happen and people here said I was far off the mark and gas was going to stay dirt cheap. Also gas reached higher prices when the economy was doing much better that is not it either.

[dindak]

Originally Posted by rueben44

Lets not blame the dollar or any thing else the market is rigged and they play all kinds of games. I said a while back this was going to happen and people here said I was far off the mark and gas was going to stay dirt cheap. Also gas reached higher prices when the economy was doing much better that is not it either.

Right now.. the dollar is 75% of the increase in oil prices. Down the road,who knows.

[69project]

The negative balance of trade has nothing to do with the dollar being in the tank. Obama's administration has purposely driven down the value of the dollar in hopes of making US goods cheap and maybe getting the economy going.

He also drove it down with his freaking massive trillion dollar bailout. The world markets didn't like that and have punished the US with making the dollar worth less. The world has lost some faith in the dollar since we have all this massive debt.

Since crude is priced in dollars the cheaper the dollar is the more expensive it makes crude. If you haven't noticed there are record amounts of crude being stored as well as gasoline. Refiners have cut production massively because their margins are squeezed with the high crude and the until recently relatively cheap gas. This creates an artificial shortage of gasoline thus driving the price up allowing the refiners to have better margins.

have you also noticed none of the OPEC countries are calling for a production increase to take advantage of these prices? That's because no one wants to buy the crude they have now because it's too expensive to refine.

So as usual the consumer gets jacked in the end. If we drive up the price of the dollar things will go back to normal, but until the present administration thinks that is the thing to do, we are stuck like Chuck. I hate Chuck.

If you are into conspiracies this could be the administration and Green Weenies way of forcing everyone into fuel efficient cars. If the US won't create huge gas taxes like Europe, then they will artificially inflate fuel prices to force consumers into fuel efficient cars. Food for thought....

[BlueMontreal]

Originally Posted by calgaryhhr

I'm glad that I do not depend on driving too much. A full tank of gas typically lasts me approximately a month. An increased price sure does suck though. I only fill up at Shell stations now and over this last month the Shell stations in my area have been closed half the time as a result of not having any gasoline to sell.

We are in the same situation has your's.

A few years ago, my wife and I decided that we won't depend on our car to get to work.

[Beau]

The oil prices spiking caused 40% of the US economy that people blamed Bush for. It really destroyed consumer confidence and instilled a sensation of panic. 50% of it was wall street greed, and the other 10% was possibly somewhat due to the war effort??

[Neanderthal]

Let's look on the bright side here, folks.

This could drive down the price of Grand Prix GXPs, making my potential bargain an even greater bargain!

Don't worry, be happy!

[Mikkoo]

$1.20 a liter would be really cheap for us. We are paying the equivalent of $ 1.90 per
liter here in Northern Europe. Finland to be exact. The cheapest I've seen in the
six years I've been here is $1.50 per liter. And we use the euro currency, which is
valued around 50% stronger than the US dollar.