So why have pump prices gone up in the last week or so? As I've said before, if you watch the commodity markets and follow what happens to crude oil and wholesale gasoline, you'll get a good sense of where the price of gasoline is going to go. The signs clearly pointed up this week.
On Friday, crude oil finished an uphill climb by hitting it's highest level since last November. You can find more here as well. Wholesale gasoline prices also went up, with many citing positive economic news as the reason for the uptick in both. As a result, combined with a smaller build in inventories than expected, upwards movement on the commodity markets have pushed pump prices up across North America.
why is it that up north midland ontario gas prices are about 10 cents cheaper than if you come to toronto?
Posted by: J_Pirri83@hotmail.com | May 13, 2009 at 02:32 PM
I always find it interesting how a rise in gas prices coincides with a long weekend. An 8 cents jump in prices in the last week heading towards the long weekend. Seems a little planned as usual to me. More peoplr plan to travel so why not force them to pay more! Why can't the price fall that quickly?
Posted by: Mark | May 15, 2009 at 09:11 AM
could you tell me why gas prices when they go up petro canada is roughly 1.5 cents more expensive til at least lunch.
Posted by: Gary | May 15, 2009 at 03:47 PM
Would you please answer to my one and only question (understanding gas price):
Why would your profit should triple in the last decade?
Personal History: I came to settle in London, Ontario in March 1999; the gas price hovered around the half dollar a liter nonetheless your profit according to the representative pie on the pump was 1%!
Thank you for your kind reply.
Robert
Posted by: Robert Hakim | May 16, 2009 at 07:54 PM
You really expect this highly paid PR professionals to answer your questions? I am sure he (along with his bosses) makes enough money not to care as much about gas prices as normal people.
Posted by: Igor | June 10, 2009 at 01:32 AM