I (Don't) Like Ike

Well, the price of gasoline went up thirteen cents a litre last night.

"They" - whoever "they" are - say it is because the pumping stations and refineries in the Gulf of Mexico region shut down because of Hurricane Ike.

Hey - cant be too careful with those multi-million dollar rigs.

The amazing thing is that they can get the gasoline from the Gulf of Mexico to Toronto so quickly! I would have guessed that the gasoline in the tanks of hundreds of filling stations across the GTA might have been siting there for, oh, I dunno, five, six days?  And the crude from which it would have been made would have been pumped out of the Gulf floor, oh, I dunno, weeks, months ago? And refined some time ago too? Long before Ike was even a gleam in Gustav's eye?

Apparently not. Because the INSTANT the hurricane hit, OUR prices shot up by thirteen cents!

I guess that's fair.

I wonder - when Ike passes, and the pumping stations and refineries re-open, will the price go down by thirteen cents a litre just as quickly?

I'm not holding my breath.

Comments

[Martin]

It is funny how these past few weeks they have been telling us that the price of crude is not related to the current prices at the pump and thus we have not seen a drop per liter as the crude price has been dropping . But a shutdown of a few refineries have an instant effect on today prices. Which is it?

[John Betmanis]

Even more interesting is that gas prices in the U.S. didn't jump when ours did. Looks like Canada is on the fast track for getting the freshly brewed gas because we always pay top dollar, no questions asked.

[DjDATZ]

LOL, it's so true. I'm glad there are still sensible people in the world!

You know what bothers me the most? That a company like Exxon can have record profits last year, and gas prices are so high! Would it hurt SO much to be a "nice" company and cut your prices by 10-15 cents and have the public look at you in a better way? That would surely make you sell even MORE gas!