Post by Liberals are VERMIN!Except that oil is 40% CHEAPER than in 2008 at $60/bbl. So where is the
money going? Taxes, which have increased. Plus, gas stations, which used
to earn $.04/L now get $.12/L, a 3 TIMES increase. Has anyone seen their
wages increase that much over that span?
Right now, we've got 12 cent differences between stations a few kilometers
apart ... anything between 1.18 and 1.30.
I did this formula is 2015 ... let's see if it still works:
Gas Price = ( (((Price per barrel)/42 gal per barrel + Refining Cost) * $
Rate) / 3.78541 l per gallon) + Flat Taxes + Overhead) * Retail Tax
Gas Price = ( (((Price per barrel)/42 + .255) * $ Rate) / 3.78541) + .247 +
.178) * 1.13
The price per barrel of oil is 64.94, and the dollar is at 1.29
Gas Price = ( (((64.94/42 + .255) * 1.29) / 3.78541) + .247 + .178) * 1.13
= 1.174
But since then, Ontario has brought in a carbon tax, so the flat taxes goes
up by 4.3 cents:
Gas Price = ( ((( 64.94/42+ .255) * 1.29) / 3.78541) + .29 + .178) * 1.13 =
1.222
You can find gas in Toronto today for about $1.22 ... 3 cents cheaper at
Costco.