Gas prices and greed
Sep 12, 2012 / 3:27 pm
One industry analyst has a simple explanation for the higher gas prices that jolted motorists Wednesday in major Canadian centres: "greed."
The shock at the gas pumps was particularly acute in Montreal, where prices soared by as much as 13 cents a litre. The price of regular in the Montreal area was set at just under $1.53 a litre, an increase of almost 20 cents since the start of summer.
In the Okanagan the prices range from 132.9 to 136.9. To find the latest, and cheapest, gas prices in the central Okanagan, click here.
Gasoline prices across southern and eastern Ontario also rose by about 3.4 cents, according to the website tomorrowsgaspricestoday.com. That put the price of regular in the greater Toronto area at just under $1.37 a litre, and $1.34 in the Ottawa area. In the greater Vancouver area, prices ranged from $1.36 in Burnaby to $1.42 in Richmond, with smaller fluctuation in recent days.
Roger McKnight of En-Pro International says he's checked over a number of the usual factors â€” like supply and demand, refinery problems and inventories in the United States â€” all of which dictate prices in Canada.
"There's no reason for (gas prices) to be going up," he said in an interview.
McKnight, an independent industry analyst whose company is based in Oshawa, Ont., says prices should actually have gone down because the Canadian dollar has increased in value.
"When the Canadian dollar goes up in value, your prices should actually be dropping, but they actually went up," he said.
"So I'm going to have to use the word, 'greed,' insofar as the oil companies are concerned.
Here are the local prices:
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