I think I was paying about 63 cents a gallon in 70/71.
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63 Parisienne sport coupe (The Big GTO), black, maroon interior, 409 4 speed; former owner of a 59 El Camino, 63 Corvette SWC, 62 Chev Bel Air SC. 1963- Pontiac top selling car in Canada
Mahone Bay, NS Still not old enough to need an automatic
I think I was paying about 63 cents a gallon in 70/71.
I have a photo of my 1955 Chevy coupe that i took in 1979. In the background there is a GULF gas station with the sign that reads 23.0 cents a liter. That actually seems very high to me now.
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1957 Pontiac Pathfinder Deluxe sedan restored 261 six
1974 Chevrolet Caprice Estate wagon low mileage original 400 V-8
In 1979 gas in the Toronto area was around 23.0. I took this photo of my 1955 Chevy Del Ray club coupe (210) around summer of 1979. We were crying for paying that then but i do not remember belly aching about gas prices then, i was 21 years old and having way too much fun. Cheers.
63 Parisienne sport coupe (The Big GTO), black, maroon interior, 409 4 speed; former owner of a 59 El Camino, 63 Corvette SWC, 62 Chev Bel Air SC. 1963- Pontiac top selling car in Canada
Mahone Bay, NS Still not old enough to need an automatic
Read a business article saying by end of 22 well have a significant oil shortage, 27 million barrels per day.
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63 Parisienne sport coupe (The Big GTO), black, maroon interior, 409 4 speed; former owner of a 59 El Camino, 63 Corvette SWC, 62 Chev Bel Air SC. 1963- Pontiac top selling car in Canada
Mahone Bay, NS Still not old enough to need an automatic
Of course, spring is coming, people are going to be doing more driving now. It always works that way.
Wait until it warms up and we have a long weekend!
x2 but it's the demand on a long weekend!! That 1 extra day deplets the reserve so the price goes up...give me a break!! 152.00 on the lower Island. Going to start carrying jerry cans on the work truck when I go up Island. 6-8 cents a litre cheaper!
As with gasoline, the price of crude oil tanked last spring as COVID-19 wrecked economies and stopped people from traveling. To prop up oil prices, the OPEC cartel and its allies slashed oil production. Afterall they have to make their billions regardless of demand.
Lately demand has seen an increase but crude prices have been soaring because OPEC has been slow to boost output again. Slow on purpose so that they can make billions more. Oil hit $60 a barrel for the first time in over a year, and Goldman Sachs expects prices to hit $72 by summer, according to multiple media reports.
Crude cost, not demand, has been the main factor driving gas price increases this year so the the average price in most places is now higher than a year ago.
The oil and gas industry was reeling from plummeting fuel sales caused by COVID. Many refinery closures have reduced production by more than 1 billion barrels per day.
It's possible some capacity could come back online in the 2022-2023 timeframe, but by and large, these closures will prove permanent.
Oil and gas producers lost tens of thousands of jobs last year, and laid-off workers were left scrambling to make ends meet.
As more people are vaccinated and life begins to return to something closer to normal, people are likely to drive and fly more. This trend will contribute to even more rising fuel costs.
At the foundation of the rise in prices is the fact that the coronavirus situation continues to improve, pushing global oil demand higher as production continues to lag, pushing gas prices higher.
If the price of fuel has a significant detrimental impact on you, you can fight back by shopping around for lower gas prices as hawkeye5766 says or you might want to consider replacing your vehicle with a more fuel efficient, hybrid or electric model.
-- Edited by 73SC on Monday 22nd of March 2021 01:19:29 AM
I was listening to a fellow on BNN who reviews gasoline prices in Canada weekly, he was asked why prices were so high in BC. He said they have 1 refinery and their markup was 39 cents a litre, where in Alberta it is 20 cents.
We went up to 1.30 for regular unleaded last week, this week it dropped 8 cents in one day. Our gas price is currently regulated by the province so no competition on price.
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63 Parisienne sport coupe (The Big GTO), black, maroon interior, 409 4 speed; former owner of a 59 El Camino, 63 Corvette SWC, 62 Chev Bel Air SC. 1963- Pontiac top selling car in Canada
Mahone Bay, NS Still not old enough to need an automatic
The other noticeable trend that seems to escape conversation is the mark up on 91 octane vs 87 octane. It used to be about 18 cents but its now up near 25 cents and that's per liter. In the US the markup is much the same numbers but in per US gallons.
-- Edited by norontcan on Monday 22nd of March 2021 09:26:08 PM
Our markup on 91 was always around 8-9 cents a liter.
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63 Parisienne sport coupe (The Big GTO), black, maroon interior, 409 4 speed; former owner of a 59 El Camino, 63 Corvette SWC, 62 Chev Bel Air SC. 1963- Pontiac top selling car in Canada
Mahone Bay, NS Still not old enough to need an automatic
