The Victoria Day weekend has arrived! As a result, the markets will be closed Monday meaning that the prices posted tonight will remain in effect until Tuesday. Check back Tuesday night for Wednesday’s prices. Have a safe and enjoyable long-weekend.

Tomorrow’s Gas Price Today Team

Many of you have inquired as to why prices at the pump remain stubbornly high despite the significant drop in crude prices we have seen over the last few weeks. The answer to this question is found in our Rip-Off Chart which explains that in the past month, Canadian refiners, who in fact control most of the price we pay at the pumps, have pocketed an extra three to eight cents per litre in margins ….. simply because they can. The lack of competition at the refinery level allows lockstep, unjustified increases that run contrary to market forces. Don’t be swayed or fooled by defenders of the industry who suggest summer gasoline costs more to produce. The fact is, it was the gas industry itself which demanded that Canadians pay based on world prices at the spot market at New York Harbour. That is precisely the premium factored into the NYMEX/New York Harbour price today and yet you are still forced to pay three to eight cents per litre above these established world prices for gasoline.

The market has already factored in the summer fuel conversion costs – based on vapour pressure.

TGPT

As part of our continued effort to help you save money at the pumps we’ve added Peterborough to our growing list of cities we post for each weeknight. Be sure to help out a friend or family member by informing those you know in the Peterborough area that they have been added to Tomorrow’s Gas Price Today.

TGPT