Search results
Apr 11, 2024 · Why are gas prices rising? Underlying the higher costs of gas are routine factors including refinery maintenance, the switch to summer gasoline and rising demand. Domestic supply is also...
- What's The Main Contributor to High Gas Prices?
- What About Taxes?
- Are Gas Stations Making A Lot of Money?
- Is More Oil Being Produced to Increase Supply?
- How Are Oil Companies Faring?
- Will Gas Prices Fall Anytime Soon?
The price of gas can be broken down to four components: the price of crude oil, the cost to refine it into gasoline, the markup from the gas station owner and, of course, taxes. The primary driver of high gas and diesel prices is the price of crude oil, a barrel of which now costs 75 per cent more than it did in May 2021. "That is the overwhelmingl...
There are several taxes levied on gasoline, both at the federal and provincial levels. The federal carbon tax adds 11 cents to the cost of each litre of gas, a figure that's drawn criticism as fuel becomes more expensive. "It … engenders a lot of political anger from people, because it's another tax," said David Detomasi, an associate professor of ...
When you fill up your vehicle, you might be under the illusion that gas stations are making lots of money. But retailers keep very little of what you pay at the pump. In fact, they're making less profit on every fill up today than they were a year ago. Retailers currently add, on average, 6.9 cents to the price of a litre of gas, down from an avera...
American oil companies have increased their drilling activity by nearly 60 per cent over the last year, according to a closely watched weekly count of rigs in operation conducted by oil services firm Baker Hughes. In Canada, drilling activity in April was up 134 per cent compared to a year ago, according to Alberta'sMinistry of Treasury Board and F...
Oil companies are seeing their profits spike alongside gas prices. Shell's profits last quarter tripled in comparison to the same period last year, raking in $9.1 billion. Saudi Aramco, Saudi Arabia's primarily state-owned oil company, has seen its profits rise by 82 per cent, netting nearly $40 billion. But Tombe said high profits are a function o...
Gas prices are historically volatile and difficult to predict, the economist said. They also tend to be cyclical in nature, meaning they rise during economic booms and fall during downturns. At the start of the pandemic, for example, gas prices fell dramatically to a low of 78 cents a litre, leading oil producers to slow production. In the short-te...
Jan 28, 2022 · The average price in Canada is $1.478 per litre, as listed on gas price tracker website GasBuddy. Experts say geopolitical tensions are behind the recent increases, and that 2022 will see...
Jun 14, 2022 · When fuel prices go up, consumers are hurt directly at the pump, but also indirectly when higher transportation costs raise prices on everything from food to diapers to construction materials.
1 hour ago · It's not easy to compare year-over-year changes in gas prices, de Haan said. Part of that is due to the April 1 carbon tax increase, which added 3.3 cents per litre to gas prices in most provinces ...
May 12, 2022 · May 12, 2022, 9:51 AM PDT. By Martha C. White. Gas prices are setting records on an almost daily basis. Wednesday’s record price of $4.40 a gallon, according to AAA, was quickly eclipsed ...
Jun 17, 2022 · Explainers. What gas prices do — and don’t — tell us about the economy. Gas prices are high. But this isn’t the 1970s. by Rebecca Leber. Jun 17, 2022, 8:40 AM PDT. Gas prices may be the...
