Well the price of gas here in Nova Scotia(and the rest of Canada) Are going through the roof.
Here in N.S. gas prices are regulated through the government. Every Friday the price of gas is determined through some sort of formula.
Even though there are ample crude oil supplies AND the price of a barrel of oil is down compared to last year at this time, the price of gas at the pump keeps going up. It is now at 1.43$ per liter and on Friday it will be going up again. Probably to 1.45 to 1.47 per liter for regular self serve.
At what a lot of Nova Scotians probably missed is that refineries are now required to put ethanol in fuel. 10% in regular, 5% in the mid grade gas and nothing in the high grade gas. This makes the cost of refining cheaper! And ethanol reduces fuel economy! So you uses MORE gas!
That equates to about 5.41$ per U.S. gallon. How would people in the U.S. feel about that?
Last year at this time the price of gas was about 1.25$ per liter.
A HUGE portion is taxes. Our provincial government is raking in millions in extra revenue every week.
So the question is: What would gas prices have to be for you to change your habits?
$4.50 per gallon?
$5.00 per gallon?
6 or 7 dollars per gallon?
I suspect that gas prices will continue to rise here throughout the summer(peak driving months) and we will see $1.70 to 1.80 for a liter of self serve.
I drive a fairly economical car. A Honda Civic. I can’t image a truck, van or SUV.
I do bike to work which is only a few kilometers away, but not everyone can do that.
The price of stuff keeps going up. Wages don’t keep pace so maybe we really have to start looking at simplifying our lifestyles. Every dollar counts.
Now more than ever.
Your thoughts? Do you follow gas prices where you live?