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Canadian Chat → Re: Daily Fluctuation in Gasoline Prices

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This is a sub-selection from Daily Fluctuation in Gasoline Prices

elwoodblues Elwood Blues Premium Member join:2006-08-30 Somewhere in	elwoodblues to nitzguy Premium Member 2012-Aug-30 3:47 pm to nitzguy Re: Daily Fluctuation in Gasoline Prices This has nothing to do with Nafta, all Nafta prescribes is that we cannot short the Americans unless we short ourselves. World prices (spot or not) are determined by the market, and of course the market will pick the most expensive price. The Brent Spot is almost $10/bbl more then the WTI or Nymex prices. But as we've seen the price of oil and the price of gasoline are now completely independent of each other.
	actions · 2012-Aug-30 3:47 pm ·
andyb Premium Member join:2003-05-29 SW Ontario	andyb Premium Member 2012-Aug-30 3:55 pm Funny thing is not many actually buy oil from the market.They make contracts with companies to supply them and hammer out a price during negotiations. And Canadian oil sells for about 15 to 20 bucks cheaper than WTI but we pay for gasoline based on Brent price
	actions · 2012-Aug-30 3:55 pm ·
I_H8_Spam join:2004-03-10 St Catharines, ON	I_H8_Spam Member 2012-Aug-30 4:05 pm said by andyb: And Canadian oil sells for about 15 to 20 bucks cheaper than WTI but we pay for gasoline based on Brent price Actually gasoline is not tied to Brent, it's priced from the higher of the two markets. RBOB gasoline - Nymex RBOB Gasoline - (IPE)-ICE Whoever sets the higher price at closing, sets the benchmark our oil companies gouge us with the next day.
	actions · 2012-Aug-30 4:05 pm ·
nitzguy Premium Member join:2002-07-11 Sudbury, ON	nitzguy to elwoodblues Premium Member 2012-Aug-30 4:06 pm to elwoodblues said by elwoodblues: This has nothing to do with Nafta, all Nafta prescribes is that we cannot short the Americans unless we short ourselves. World prices (spot or not) are determined by the market, and of course the market will pick the most expensive price. The Brent Spot is almost $10/bbl more then the WTI or Nymex prices. But as we've seen the price of oil and the price of gasoline are now completely independent of each other. Exactly...so why sell to Canadians when I can sell to an American and make more profit? If you break out the cost of gasoline minus taxes, you'll see that Americans are paying more per litre/gallon vs. canadians... And that's life.
	actions · 2012-Aug-30 4:06 pm ·
elwoodblues Elwood Blues Premium Member join:2006-08-30 Somewhere in	elwoodblues Premium Member 2012-Aug-30 4:16 pm We don't make more profit, the price is the same. If I sell to the Americans for say $1/bbl I can't sell it to Canadians for say 50c/bbl NAFTA won't allow that.
	actions · 2012-Aug-30 4:16 pm ·

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This is a sub-selection from Daily Fluctuation in Gasoline Prices