Most of us purchase gasoline at a station close to home. A flurry of global factors impact the price of crude oil, but we buy our tankfuls of gasoline around the corner and therefore think about gas prices in local terms. Makes sense. But it can make us feel we're alone when it comes to high pump prices. So I thought I'd share a few stories from around the globe.
6 entries from May 2008
Steve Hargreaves at CNNMoney.com has posted a great article outlining many of the factors that have boosted pump prices since 2004. You can find it here. It's obviously US focused (so don't flip when you see the headline "Who's to Blame for $4 Gas"), but with the connection to the commodity markets on both sides of the border, it stands up in Canada too.
It's a good illustration of how many different and complex factors can come together to impact one thing - the price at the pump. And how each year one main factor stands out amongst all others.
Whatever you call it - the May 2-4, Victoria Day weekend or the beginning of the road construction season, this is a big weekend. It's our unoffical start to summer and a great opportunity to enjoy the natural beauty of Canada. For many, that means heading to the cottage to open it up for the season, taking the tarp off the boat or pulling the camping gear out of the basement to tent with friends.
I'm all for fun, but if you are heading out on the roadways this weekend, please be safe. I still find it hard to believe that people need to be reminded not to drink and drive or wear seatbelts and lifejackets these days, but if history repeats, there will be plenty of tragic accidents in the news on Monday and Tuesday. As a father of young children, those stories of lives lost because of a temporary rest from common sense break my heart each time I hear them. Seatbelts, lifejackets and Arrive Alive campaigns exist for a reason. To drive home this message, a smart bunch of folks in Newfoundland held a "mock" accident for the media yesterday. Worth checking out.
So from all of us at Pump Talk have fun, but don't think you're too cool to be safe this May 2-4 weekend.
Photo Credit: Greg Gladman
You may have seen recent news stories about gas pump accuracy. The stories originate with an Ottawa Citizen investigation; the original articles can be found here and here.
Given the recent coverage, we thought you might be interested in Petro-Canada’s pump calibration practices.
The new version (pictured below) of the gas prices "pie-chart" will start appearing on Petro-Canada pumps in the coming days. It's something we've been doing annually since 2000...when the average price of gas in Canada was 71.5 cents per litre. A smaller pie indeed.