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Author	Topic: Gas prices off the charts due to 2-tiered Canadian oil market	Post a Reply Back to Topics

Nicoalbum Champion Author Ottawa Posts:6,002 Points:1,186,040 Joined:Jan 2010	Message Posted: Nov 23, 2012 2:19:13 PM Ignore Nicoalbum Report Abuse 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

Nicoalbum

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

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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)Ignore Short Messages

mabrams184 Champion Author Lexington Posts:2,091 Points:531,130 Joined:Aug 2011	Message Posted: Nov 25, 2012 7:59:39 AM Ignore mabrams184 Report Abuse Don't let this happen in the US.
jrs4125 Champion Author Indiana Posts:2,743 Points:588,820 Joined:Sep 2011	Message Posted: Nov 25, 2012 7:21:09 AM Ignore jrs4125 Report Abuse ok
crep1291 Champion Author Ottawa Posts:2,576 Points:480,635 Joined:Dec 2010	Message Posted: Nov 24, 2012 10:42:21 AM Ignore crep1291 Report Abuse "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 Posts:2,526 Points:646,990 Joined:Jun 2011	Message Posted: Nov 24, 2012 2:10:38 AM Ignore vjs3 Report Abuse I wonder how long it will take to resolve this situation.
jimgraham Champion Author Akron Posts:10,357 Points:1,976,785 Joined:Oct 2007	Message Posted: Nov 24, 2012 1:40:20 AM Ignore jimgraham Report Abuse 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 Posts:1,927 Points:720,615 Joined:Sep 2010	Message Posted: Nov 24, 2012 12:52:26 AM Ignore BEGTWO Report Abuse ;-(
MidNJ Champion Author New Jersey Posts:7,536 Points:1,169,685 Joined:Sep 2009	Message Posted: Nov 23, 2012 9:59:00 PM Ignore MidNJ Report Abuse Is Canada is shipping too much of its crude to other countries?
BIGOILEATURCRUD Champion Author North Carolina Posts:5,747 Points:1,375,575 Joined:Nov 2008	Message Posted: Nov 23, 2012 7:20:31 PM Ignore BIGOILEATURCRUD Report Abuse Must be Obama's fault.
ktbaeohana Champion Author Las Vegas Posts:2,296 Points:420,700 Joined:Mar 2010	Message Posted: Nov 23, 2012 6:37:52 PM Ignore ktbaeohana Report Abuse watch and see.
amerk73 Champion Author Dallas Posts:7,033 Points:1,618,115 Joined:Oct 2008	Message Posted: Nov 23, 2012 6:35:24 PM Ignore amerk73 Report Abuse gas price rise up
albie_4197 Champion Author Ohio Posts:1,026 Points:605,055 Joined:Sep 2001	Message Posted: Nov 23, 2012 6:23:54 PM Ignore albie_4197 Report Abuse That's one thing to be Thankful for.. That we don't live in Canada (or me)
SNOWMI Champion Author Michigan Posts:1,147 Points:213,605 Joined:Nov 2011	Message Posted: Nov 23, 2012 6:10:05 PM Ignore SNOWMI Report Abuse Poor canadians, their gas is always higher than US, and now it's even higher, not fair to them.
Nicoalbum Champion Author Ottawa Posts:6,002 Points:1,186,040 Joined:Jan 2010	Message Posted: Nov 23, 2012 6:04:35 PM Ignore Nicoalbum Report Abuse Taxes cannot explain opposite movement between oil and gas prices especially in Canada
04LTC Veteran Author Massachusetts Posts:316 Points:99,820 Joined:Sep 2012	Message Posted: Nov 23, 2012 4:24:10 PM Ignore 04LTC Report Abuse shame....
VomVom Champion Author Calgary Posts:3,857 Points:1,627,080 Joined:May 2007	Message Posted: Nov 23, 2012 4:21:57 PM Ignore VomVom Report Abuse 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 Posts:314 Points:31,840 Joined:Dec 2009	Message Posted: Nov 23, 2012 3:40:57 PM Ignore dogsdog Report Abuse k
humblepie Champion Author Toledo Posts:34,101 Points:2,368,445 Joined:Mar 2006	Message Posted: Nov 23, 2012 3:40:57 PM Ignore humblepie Report Abuse sad sad news
Juicy1177 Veteran Author Gary Posts:336 Points:147,500 Joined:Feb 2012	Message Posted: Nov 23, 2012 3:40:27 PM Ignore Juicy1177 Report Abuse I will 2nd that,
FortVancouver01 Champion Author Washington Posts:1,160 Points:285,345 Joined:Jul 2012	Message Posted: Nov 23, 2012 2:41:54 PM Ignore FortVancouver01 Report Abuse 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 Posts:6,002 Points:1,186,040 Joined:Jan 2010	Message Posted: Nov 23, 2012 2:19:34 PM Ignore Nicoalbum Report Abuse Poor us, Canadians, in terms of gas