As a simple consumer I am having trouble understanding why the price of gas in Quesnel and everywhere else is where it is today. In Quesnel we are paying 130.9 a litre and this price has remained at this level for several months now.
Now if I am not mistaken gas is refined from crude oil and oil has been at as low as $78.00 a barrel.
When oil was $105.00 a barrel, price at the pump was 133.9. Now my question is why when the price per barrel goes up there is an instant change at the pump but when the price of oil goes down we see no change – strange.
I did hear an oil ex. say that it would take sometime for the cheaper crude to get through the system before we see a change at the pump. I wonder why it works that way when the cost of oil goes down but not when it goes up. I do remember when the price of oil was similar to the price, at the pump so $78 a barrel would mean we paid at the pump $ .78 a litre. Now I know the station owners do not set the price the oil companies do. Everything I purchase in Quenel is higher today and the cost of fuel is one of the main factors for this.
So maybe if the greedy oil companies would adjust their prices to a more realistic price this would stimulate our economy because we would have more money to spend on other things. I know I am not alone when I say enough is enough its time for oil companies to give us all a realistic price.