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Author Topic: Gas prices off the charts due to 2-tiered Canadian oil market Back to Topics
Nicoalbum
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Ottawa

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Message Posted: Nov 23, 2012 2:19:13 PM

The difference in gasoline prices across Canada has hit its widest point in a decade because supply problems in the crude oil market have thrown the regular rules out the window, according to a report released today.

The Statistics Canada report released Friday shows how wildly different prices for crude oil that refineries across the country must pay are leading to pump prices that often move in opposite directions.

The Western world's two largest benchmarks for oil are Brent and WTI. The former is named after the Brent oilfield under the North Sea between Britain and Norway, whereas WTI stands for West Texas Intermediate and essentially refers to the type of oil extracted from the Gulf of Mexico.

Both are favoured for their purity and ease of processing compared to other type
Visit CBC News for full article
REPLIES (newest first) Post a Reply
mabrams184
Champion Author Lexington

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Message Posted: Nov 25, 2012 7:59:39 AM

Don't let this happen in the US.
jrs4125
Champion Author Indiana

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Message Posted: Nov 25, 2012 7:21:09 AM

ok
crep1291
Champion Author Ottawa

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Message Posted: Nov 24, 2012 10:42:21 AM

"They really need a pipe to their east coast.

Take care of your own before you serve the rest of the world."

Yes, the oil producers are taking care of their own by maximizing their profits. Unfortunately, shipping the oil to the east coast isn't as profitable as shipping it to Asia.
vjs3
Champion Author Denver

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Message Posted: Nov 24, 2012 2:10:38 AM

I wonder how long it will take to resolve this situation.
jimgraham
Champion Author Akron

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Message Posted: Nov 24, 2012 1:40:20 AM

They really need a pipe to their east coast.

Take care of your own before you serve the rest of the world.
BEGTWO
Champion Author Maryland

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Message Posted: Nov 24, 2012 12:52:26 AM

;-(
MidNJ
Champion Author New Jersey

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Message Posted: Nov 23, 2012 9:59:00 PM

Is Canada is shipping too much of its crude to other countries?
BIGOILEATURCRUD
Champion Author North Carolina

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Message Posted: Nov 23, 2012 7:20:31 PM

Must be Obama's fault.
ktbaeohana
Champion Author Las Vegas

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Message Posted: Nov 23, 2012 6:37:52 PM

watch and see.
amerk73
Champion Author Dallas

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Message Posted: Nov 23, 2012 6:35:24 PM

gas price rise up
albiek1976
Champion Author Ohio

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Message Posted: Nov 23, 2012 6:23:54 PM

That's one thing to be Thankful for.. That we don't live in Canada (or me)
SNOWMI
Champion Author Michigan

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Message Posted: Nov 23, 2012 6:10:05 PM

Poor canadians, their gas is always higher than US, and now it's even higher, not fair to them.
Nicoalbum
Champion Author Ottawa

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Message Posted: Nov 23, 2012 6:04:35 PM

Taxes cannot explain opposite movement between oil and gas prices especially in Canada
04LTC
Veteran Author Massachusetts

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Message Posted: Nov 23, 2012 4:24:10 PM

shame....
VomVom
Champion Author Calgary

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Message Posted: Nov 23, 2012 4:21:57 PM

This report ignores the biggest factor in gasoline prices: taxes collected by the various levels of government. Go to "Gas Price 101" and than look at the "Canada Fuel Tax Rates".
dogsdog
Veteran Author Sacramento

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Message Posted: Nov 23, 2012 3:40:57 PM

k
humblepie
Champion Author Toledo

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Message Posted: Nov 23, 2012 3:40:57 PM

sad sad news
Juicy1177
Veteran Author Gary

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Message Posted: Nov 23, 2012 3:40:27 PM

I will 2nd that,
FortVancouver01
Champion Author Washington

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Message Posted: Nov 23, 2012 2:41:54 PM


Seems like it would be in Canada's best interest to stop inporting oil and use the pipeline oil for Canada instead of selling it to some foreign interests and transporting it to Texas for foreign consumption..?? From my perspective I think your Federal government is being "controlled" by the oil barons more than the US Congress...

Nicoalbum
Champion Author Ottawa

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Message Posted: Nov 23, 2012 2:19:34 PM

Poor us, Canadians, in terms of gas
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