Big jump in Gas prices

[trimmer21]

If anyone thought that low gas prices was here to stay,they're in serious need of psychological help. This was merely a tiny blip on the radar.

[JoePa]

On the real bright side - I got some gas yesterday - paid 60 cents per liter - $2.29 per gallon - I noticed that the diesel was $2.99 per gallon - .79 cents per liter - can never figure out why diesel is so much more expensive - it needs a lot less refining -

[Hunter John]

More expensive in the winter Joe as its the same as heating oil. gouging for sure.

[JBen]

my one and only contribution.

Just one more thing to be concerned about. Its great if it works out, goes in our favor and prices remain low. If Oil supplies, or something else cause's it to spike this spring/summer..........

We could be in a world of trouble if various things happen/combine.
Rising hydro
Rising food cost
Rising taxation
Rising gas?
Rising rates?
Real Estate bubbles, retirement savings and more.

apparently its a dead horse and some don't like what economist are saying, whose taking the brunt and the reasons for them.

Governments typically borrow money as a means to finance long-lived assets such as roads, schools or hospitals," Wen, a professor of economics at the University of Calgary, said in a statement. "In Ontario's case, the province has gone deeper into debt to pay for day-to- day expenses such as the salaries and pensions of government employees and is passing the bill onto future generations."
Wen's analysis of the province's fiscal situation found that net debt has grown from 28% of the economy to an expected 40% this year.
Economist Don Drummond, who was awarded the Order of Ontario Wednesday, predicted that the province's debt-to- GDP ratio could reach 51% by 2017-18. Wen said one study suggests that spending cuts, rather than tax increases, are most effective at lowering operating deficits and debt-to-GDP ratios.

It remains unclear if the provincial government would have the political will to correct its course, especially if the economy falters (see consumers getting hit with rising cost) or interest rates head north, the report says.

There are some "ifs", intangibles and the winds can change at anytime.

Lets pray, not for the worse.

[skypilot]

On the real bright side - I got some gas yesterday - paid 60 cents per liter - $2.29 per gallon - I noticed that the diesel was $2.99 per gallon - .79 cents per liter - can never figure out why diesel is so much more expensive - it needs a lot less refining -

There is only so much diesel in a barrel of crude. Supply and demand controls prices along with Gov. regs that require diesel to be low sulfur. To make it low sulfur you need hydrogen, to make hydrogen you need natural gas.

SO........Demand is up especially in winter(road diesel competes directly with heating oil and the GOV. requires heating oil be available OVER road diesel) PLUS the Government restricts Refinery intake of Nat Gas(used to make the hydrogen to make the low sulf required road diesel) and Nat Gas is required by Gov. to be available for heating during winter OVER/ABOVE Refinery needs for Nat Gas.

Similar situation as having the local bail bondsman owning and operating the local beer joint. He gets income from people on both ends of his business and regardless of the situation.

[Wahoo]

A barrel took a good smack today and on the radio they're calling for gas to hit a buck.

Unreal.

[GoldenLakePete]

The next time an oil executive says gas prices are based on oil costs someone needs to slap them.

Amen! Or how about a kick in the nutz?!

[Fox]

Oil just dropped 10%, guess what, gas went up again this morning.

[CalTek]

This just makes me furious , 2 days ago gas was .79 today , .96 .
That's .17 a liter = 65 cents a gallon in 2 days
In the usa there would be an outcry , here we just take it on the chin.
Oh yes the price in the usa went up also by 1.5 cents a gallon.
Tell me we are not getting ripped off.
Sorry for the rant.

Unfortunately as long as the government continues to get the kick-back in taxes we will never see them jump in to defend the consumer. The higher the price the more they make.

My hope is that the dollar rebounds as I would like to save up for a much needed trip down south next April.

Just my 2-cents.

[terrym]

As oil rises so will the dollar. The next US president may sign off on the Keystone pipeline that could eventually impact the price and dollar. Im more concerned about the coming carbon taxes than the price of gasoline itself. The new taxes will trigger an almost automatic inflation bump as everything has a carbon footprint. Carbon producers will have no choice but to pass it on to consumers. That will affect more people negatively, especially lower income ones.