• Avid Amoeba
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    7 hours ago

    Wait, given that OPEC controls the market price, especially given Saudi’s capacity to increase/decrease production, why would we expect them to let prices fall significantly?

  • Papamousse@beehaw.org
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    1 day ago

    gas in great Montréal: 1.52CA$/L

    gas in USA couples minutes drive: 1.12$CA/L

    I just filled my tank, ~60L, saved 24$CA

    • Avid Amoeba
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      6 hours ago

      Generally pump prices aren’t greatly influenced by oil prices, unless there are large swings. I don’t recall the exact breakdown of the pump price but there are explainers out there. What stuck with me is that the oil price isn’t a huge driver.

      • Papamousse@beehaw.org
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        10 hours ago

        Yup I was surprised to see the gallon for US$3, so 3*1.4 (exchange rate) = CA$4.2 per gallon, divide per 3.78 and it makes CA$1.11 per liter

  • EndOfLine@lemm.ee
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    1 day ago

    Because the reason oil companies have been making record profits is because production was not cheaper?

    Is that the argument being made? Oil faced with higher costs = higher profits,therefore lower costs = lower profits?

  • Sunshine OP
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    1 day ago

    I’m hopping for gas prices to go under 160 on the island!