Re: Gas price way up!

Posted by RodInNS on May 23, 2007 at 13:20:03 from (24.224.246.156):

In Reply to: Re: Gas price way up! posted by noncompos on May 22, 2007 at 20:09:18:

I haven't checked the price here in NS in the past few days, but I won't argue the 1.20 per liter.
Of that buck 20, the base price of the gas is taken, then the provincial gov adds 15.5 cents per liter highway tax. The federal gov adds (I think 4 cents per liter) federal excise tax, and then there is a harmonized sales tax of 14 % added on TOP of the entire amount. The pump price you see is the full price, tax included. The taxes work out to be about 30-35% of the total.

Gas price regulation is another issue. The provincial politicians caved to the stupid masses here about a year ago as gas price became an election issue. So, in their infinite wisdom, they went ahead with gas price regulation.... where the price was set once every two weeks, and is based on the NewYork price. They've just changed this bi-weekly practice last week, and are now going to adjust it weekly. Regardless of how they do it, it's been a total, unmitigated disaster. Price regulation was supposed to slow the closure of small stations and allow the rest to make a living, while at the same time providing a stable price to the consumer. At least it's given us a stable price.... albeit about 6 cents higher than everywhere else. See, we get all the increases, and none of the decreases.
The real problem in Eastern Canada is that there are 2 refiners who work in collusion with each other right down to the distribution level. The rest of the independant distributors, wholesalers and retailers never have a chance against Esso and Irving... because they must, by necessity buy from one or the other. Until some competition develops at the refiner level, nothing will change here on price.

Rod

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