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- While a lot goes into the price that drivers pay at the pumps, the main culprit in B.C. right now is a shutdown of one of the region's main refineries, reducing the supply of gasoline. But demand for drivers has held steady, which has jacked up the price of what's available.
People also ask
Why is BC experiencing a disconnect between crude oil prices and gasoline prices?
Why is gasoline so expensive in BC?
Are oil companies delaying gas prices in BC?
Why are fuel prices rising in BC?
In September 2022, the BCUC observed a period in time where crude oil prices were decreasing while gasoline retail prices increased across the province. The BCUC asked select fuel wholesalers operating in the BC fuel market to explain why the province was experiencing a disconnect between crude oil prices and gasoline retail prices.
- First Off, Why Is Gas So expensive?
- Why Not Remove Carbon Taxes?
- Is There Any Hope For Relief?
Gasoline is made from crude oil, the cost of which is determined globally. The cost is influenced by international supply and demand or geopolitical events. Crude prices were already high before Russia invaded Ukraine but now, there's even more uncertainty around long-term supply since Russia is one of the largest producers of oil and gas in the wo...
There are four main costs that make up the price of regular gasoline: 1. The price of crude oil. 2. Refining costs. 3. Distribution and marketing costs. 4. Taxes, including federal, provincial and municipal taxes. The cost of crude oil is the highest of those four costs, usually determining roughly half of the retail price of gasoline. Removing tax...
Antweiler said there is a chance for a break at the pumps if Saudi Arabia, the United Arab Emirates or the United States start churning out more supply — but that could take a few months. Another option for supply could come from Iran if nuclear sanctions are changed. If that happens, Iran could send more oil into the global market. Talks to unleas...
Sep 30, 2022 · While a lot goes into the price that drivers pay at the pumps, the main culprit in B.C. right now is a shutdown of one of the region's main refineries, reducing the supply...
The interactive dashboards below show the market conditions that influence the price of fuel in British Columbia (BC) each month. The dashboards display monthly changes to crude oil prices, retail margin, retail prices, and refining margins, which affect the province's fuel prices.
“Why are we paying 13 cents a litre more than anyone else in the country?” he asked. Pipeline woes. One major reason BC’s prices are so high is that the province doesn’t refine enough gasoline here to meet its needs, meaning the companies import it from our American and Albertan neighbours, who profit nicely off our dependence.
- Rob Shaw
Mar 22, 2022 · British Columbia has indicated that they will not be pausing their tax, saying that it wouldn’t impact the cost of crude which is the main driver of fuel price increases. Prince Edward Island has announced a $20 million dollar relief package to help cushion the increased cost of living, including fuel prices.
Mar 8, 2022 · Economists, fuel experts and politicians have agreed prices are rising because of Russia's invasion of Ukraine. But B.C. gets most of its gasoline from Burnaby, Edmonton and Washington...
