Gas $1.64

[Pigskin]

Driving down Portage Ave this morning I noticed gas at $1.64, last night it was at $1.55 at the same gas station. Where will the prices end up. 

[Pigskin]

Hearing gas is $1.48 at 204 gas on Sargent.

[bluengold204]

I suspect they the $2 amount eventually

[Pigskin]

I noticed this morning that a couple of the $1.64 stations are down at $1.56.

[ModAdmin]

$2.04 in Vancouver. Yikes.

[blue_gold_84]

It'll be 2.00/L soon enough. Ugh.

[Blue In BC]

Now $2.13 in Vancouver.

[Jesse]

I noticed this morning that a couple of the $1.64 stations are down at $1.56.

I filled up at 154 and it immediately went up to 172

[Pigskin]

Apparently it was $1.45 at 204 Fuel on Sargent yesterday. I picked up 100 gallons of gas about 6 weeks ago for my boat at $1.19. Just glad right now I have an EV.

[theaardvark]

The nice thing about the high price is it kills demand.  Which increases supply.  Which drives the price down.

We shouldn't be seeing such a huge increase here, as we are oil self sufficient, net exporters with near unlimited supply.

We do need more pipelines, train tank cars, and refineries.  We should start moving far more oil by train to the east coast, you can put 75000 barrels on a train, about the same as a small tanker.  We have a good rail network, just need the cars to make it work.  And they are a lot cheaper than pipelines and ocean tankers.

Algoma is a world class pipe mill.  Carney should place a standing order for pipeline grade/size pipe for them to produce whenever they have capacity.  Keep everyone employed and start building a stockpile for when pipelines get approved.

Maybe even steel for rail cars and rail road rails as well.  We have steel production capacity, use it to its max.

Build better, build Canadian.

[blue_gold_84]

The nice thing about the high price is it kills demand.  Which increases supply.  Which drives the price down.

That's an overly simplistic take.

Canada's economic machine runs predominantly on fossil fuels. Canadians by and large rely heavily on fossil fuels when it comes to food, energy, and transportation.

Demand of what is an essential commodity doesn't just decrease because the price of said commodity has increased substantially. We're already dealing with affordability crisis in this country; this spike in oil prices has only exacerbated that crisis.

[theaardvark]

But that's the point.

Prices put a damper on spending.  People think twice about trips they take, about the groceries they buy, any controllable expenses, like dining out or Skip.

COVID was a different reduction of demand because no one went out or travelled at all.  Oil dropped to a negative value.  I'm not saying that will happen, but we will see a dampening of demand, and that will allow us to export more, as that part of the demand will not shrink.

But we need to start building refineries ASAP and pipelines for that refined product.  Carney needs to get us to 100% self sufficiency on refined goods, nationwide.  Either tanker, rail or pipeline, we need to incentivize the east coast to get on board.  They have lots of oil out there, they just need to drill, baby, drill.