Gas Prices - Tomorrow's Gas Price Today

GAS PRICES EXPECTED TO RISE 1.9 CENTS A LITRE OVERNIGHT TO $1.29.3 FOR TORONTO, THURS FEB 23. SEE YOUR CITY HERE FOR DETAILS

Significantly lower gas prices (4-15 cents below) available in Belleville, Brockville, Cobourg, Collingwood, Cornwall, Leamington, Lindsay, Newcastle, Port Hope, Ottawa, Port Perry, Sarnia ($1.11.4), Stratford and Trenton. See these cities and save


YOU READ IT HERE FIRST ..... and now gas prices are set to rise this week (Feb 20 to 25)

(Sat. February 11, 2012)

This past week marked a crucial time for fuel prices. With Greece's Parliament having approved austerity measures, euphoria translated into an unwelcome jump in the price for oil and will soon lead to another increase at the pumps of yet another two cents, as we saw this week. This scenario is also supported by refined product supply concerns we've brought to your attention in previous writings in the US northeast and eastern Canada. News of sovereign credit downgrades of several European countries will only limit fuel's increase as new sanctions on the sale of Iranian oil by the EU and US will take a bite out of global oil supply, a signal to market speculator and hedge funds to increase their "net long" positions on gasoline futures. (See the attached story "Tale of Two Oils") Of course you pay for Ottawa's insistence that no limits should be placed on banks using clients funds to gamble in the futures markets as the US is attempting to prevent under the Dodd Frank Act (Volcker Rule). Excessive financial speculation of energy and food futures must be curbed, for the sake of preventing another Great Recession.

WORTH REPEATING -

AS we noted in the December commentary, there is little gained in idle speculation about where prices for fuel will be by the end of April. Self styled experts making claims that fuel prices will attain $1.50 by then, should be ignored and their sensational claims dismissed as irresponsible. Why ? The world economy is in a precarious state and an increase of that magnitude would almost certainly drive the world economy into recession. This is not only our view, but indeed the view of eminent International Energy Agency. The only caveat being a military engagement in Iran. Under this scenario, no one can predict where energy prices would go and toll it will exact on the global economy. BEWARE THE GAS GUESSER.