A reader from the GTA asked the following question: “Could you explain, please, how is it possible from the gas companies’ side to increase next day price, while crude oil price was decreased last day?”

The answer is that the price of fuel, on a day to day basis, is not controlled by the market price of crude oil.  Daily price fluctuations are controlled by another commodity that is traded alongside crude oil, RBOB Gasoline.  Both commodities are traded on the New York Mercantile Exchange (NYMEX).

What I am concerned about is the extra 5-6 cents per litre that Canadian refiners charge above the market value.  In the US, the NYMEX RBOB value is used a ceiling for prices, whereas here we are charged a premium above the market value. 

It should be noted that although RBOB dropped almost a cent, prices in Canada will only drop half a cent overnight.

The Canadian government has determined that the Jacmel region of Haiti will be the focal point of Canada’s aid.  The Arms of Jesus Children’s Mission, which is based in Pickering, has been operating in this region of Haiti for a number of years.  Over this period I have had the opportunity to work with them extensively and I can personally attest to all the hard work they do.

The Arms of Jesus Mission will be participating in the Canadian government’s funds matching program and I encourage everyone to give what they can to this organization.  They can be reached at:

Arms of Jesus Children’s Mission

P.O. Box 10

Pickering, Ontario

L1V 2R2

-OR-

1730 McPherson Court, Unit 23

Pickering, Ontario

L1W 3E6

Telephone: 905-831-3646

By now everyone is aware of the tragedy that occurred in Haiti on Tuesday.  The people of Haiti need our help.  The Government of Canada has offered to match the donations made by Canadians.  If you want to verify the validity of a charity before you donate you can check the CRA list of approved charities here: http://www.cra-arc.gc.ca/whtsnw/tms/rthqk-haiti-eng.html.

If you have family in Haiti and wish to contact the Department of Foreign Affairs you can reach the Operations Centre at 1-800-387-3124.

For more information from the Department of Foreign Affairs you can visit their website here: http://www.international.gc.ca/humanitarian-humanitaire/earthquake_seisme_haiti.aspx#help.

Please keep the people of Haiti in your thoughts and prayers.

-Dan