As petrol prices start to climb we can be sure that profiteering is happening in the retail fuel sector... how?
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As petrol prices start to climb we can be sure that profiteering is happening in the retail fuel sector... how?
Well, as pointed yesterday by @alantperry -
'As Canadian economist Jim Stanford recently pointed out, the petrol you are pumping into your car at inflated prices was refined weeks ago from oil extracted months ago. So why, other than profiteering, is the price rising? Funny how an increased *future* price of oil is applied retroactively'!
All on show right now!
@ChrisMayLA6 @alantperry This is what best practice is in business. They'd be foolish not to do this. Most people in their position would do it. People need to quit moaning and stop buying the stuff.
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As petrol prices start to climb we can be sure that profiteering is happening in the retail fuel sector... how?
Well, as pointed yesterday by @alantperry -
'As Canadian economist Jim Stanford recently pointed out, the petrol you are pumping into your car at inflated prices was refined weeks ago from oil extracted months ago. So why, other than profiteering, is the price rising? Funny how an increased *future* price of oil is applied retroactively'!
All on show right now!
Oil from Venezuela does not go through Ormuz.
Guess who knew that.
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No no, I'm pretty sure the 50 extra cents I saved by going without food for the week will surely break the petrol company's budget.
CC: @edwiebe@mstdn.ca @ChrisMayLA6@zirk.us @alantperry@mstdn.ca -
@raymierussell @edwiebe @ChrisMayLA6
Personally, I usually have a chauffeur-driven EV to get around.
Some would call it the subway.
But, yes, though I am car free by choice, I do realize that this is not a viable choice for everyone. Electric cars are, I think, the future and when I do rent a car on occasion I try to ensure that it is an electric one. Prices are coming down, and operating costs are lower than petrol cars. And in the meantime, profiteering does need to be curbed. But longer term we need to curtail the use of fossil fuels. Making that a viable choice for as many people as possible needs to be a policy priority.
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@raymierussell @edwiebe @ChrisMayLA6
Personally, I usually have a chauffeur-driven EV to get around.
Some would call it the subway.
But, yes, though I am car free by choice, I do realize that this is not a viable choice for everyone. Electric cars are, I think, the future and when I do rent a car on occasion I try to ensure that it is an electric one. Prices are coming down, and operating costs are lower than petrol cars. And in the meantime, profiteering does need to be curbed. But longer term we need to curtail the use of fossil fuels. Making that a viable choice for as many people as possible needs to be a policy priority.
@alantperry I was going to tease you about Vegreville not having a subway because of the #gg thumbprint
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@alantperry I was going to tease you about Vegreville not having a subway because of the #gg thumbprint
I took the Vegreville egg photo a few years ago when I lived in Edmonton. Relocated to Toronto 5 years ago.
Tho' I went car free in Edmonton.
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I took the Vegreville egg photo a few years ago when I lived in Edmonton. Relocated to Toronto 5 years ago.
Tho' I went car free in Edmonton.
@alantperry so many are able to do so and the disabled are not able to do so and after strokes getting transport is a nightmare especially if body parts are unable to conform getting into or out of a back seat and shared ride do not work due to allergies ...not driven for last 8 years myself and was someone who was on the road for 7days a week and miss it somewhat .. yes renting got insanely priced from 1000 a month to the same for a week covid used as the excuse ...
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As petrol prices start to climb we can be sure that profiteering is happening in the retail fuel sector... how?
Well, as pointed yesterday by @alantperry -
'As Canadian economist Jim Stanford recently pointed out, the petrol you are pumping into your car at inflated prices was refined weeks ago from oil extracted months ago. So why, other than profiteering, is the price rising? Funny how an increased *future* price of oil is applied retroactively'!
All on show right now!
@ChrisMayLA6 What I found interesting is that the gas companies had clearly already decided what the market would bear. In the first week, oil prices went up by 30, 40 bucks a barrel, and gas prices went up (here) to 1.55/L. In the following week, oil prices went up another 50 bucks, and gas prices... stayed the same? I figure they hadn't expected the oil price to continue upward, and they just shot the gas price up to the max they figured we'd allow, then had nowhere to go, like someone on botox getting surprised. @alantperry
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As petrol prices start to climb we can be sure that profiteering is happening in the retail fuel sector... how?
Well, as pointed yesterday by @alantperry -
'As Canadian economist Jim Stanford recently pointed out, the petrol you are pumping into your car at inflated prices was refined weeks ago from oil extracted months ago. So why, other than profiteering, is the price rising? Funny how an increased *future* price of oil is applied retroactively'!
All on show right now!
@ChrisMayLA6 @alantperry I was told that petrol is sold at the cost of refilling the storage tanks. Otherwise the outlets have major cash flow issues.
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@ChrisMayLA6 @alantperry I was told that petrol is sold at the cost of refilling the storage tanks. Otherwise the outlets have major cash flow issues.
That may well be true, tho' the petrol on the way to fill the tanks was still refined weeks ago. Also doesn't explain why prices come down slower than they go up. If the cost to refill suddenly drops, the price at the pump doesn't seem to drop at the same rate.
But, hey, someone has to pay the CEO's bonus.
