Are we getting gouged?
Posted May 11, 2011 11:08:55 AM.
This article is more than 5 years old.
Gas price watcher Dan McTeague says speculators and governments are to blame for the soaring price of gas.
We’re paying about $1.40 a litre in Waterloo Region with prices rising about eight cents over the past two days. This time last year, we were paying about 96 cents a litre.
McTeague tells 570’s Jeff Allan show, part of the problem is hyper-speculation south of the border, “by financial wizards who are not really involved with commodities purchases…they’re creating their own unregulated platforms…Without putting any money down, they’re able to manipulate and artificially increase prices.”
McTeague adds that according to demand, Canadians should be paying less. He says gas is about eight cents cheaper in New York and even those prices are exaggerated.
McTeague says governments need to step up. He says they, “have not paid enough attention to what is happening. They have no idea of the supply and demand picture. Here in Canada, we’ve allowed a lot of refineries to close, a lot of refiners to merge.”
He also says the federal government is making huge money off the taxes we pay on gas and they should consider rebating it to Canadians.
570 News spoke to drivers this morning about the rising price of gas. Melissa tells us how she avoids feeling the pinch at the pump…
By the way – this is not a new phenomenon. Back in February we talked to people about the price hike at the pump when it went up to an unimaginable $1.20…
