Gas Stations Not to Blame for High Prices: Industry Expert
Gas prices are up, but one industry expert says they're close to the wholesale price in Windsor-Essex.
As of 9:30 a.m. Friday, GasBuddy.com reports a litre of regular in the Windsor-area was selling for an average of $1.26.8 cents.
That up almost 17-cents over the March average.
Senior Petroleum Analyst with GasBuddy.com, Dan McTeague, blames an increase in oil prices, increased demand and the introduction of the federal carbon tax, which took effect in April.
McTeague told AM800's The Morning Drive that most gas stations, right now, are selling gas for what it costs them to buy it.
He says prices, especially here in Windsor, are very close to the wholesale price.
"The gas retailers are not the one to blame here," says McTeague. "A lot of this has to do with speculators on the markets, demand in the United States and, of course, our wonderful friends in Ottawa who just helped themselves to another five-cents a litre to change the weather."
McTeague adds the reality is that most gas stations are not making money selling gas, they're making money off what they sell in the store.
"The retailers are in a really cut-throat position, especially here in Windsor, where we see prices that are very, very close to the wholesale price," he says. "How do they cover the cost of electricity? Pay their staff? Pay their municipal taxes? Those things aren't cheap."
If you want to save some money at the pump, McTeague, wants you to remember that the price of gas goes up 8 to 10-cents a litre in the morning but the prices drop the same amount in the evening...
"Never buy in the morning, never buy at noon, never buy at 3 p.m., always buy in the evening," insists McTeague. "You'll save yourself not only the anguish of saying 'I've been ripped off' but also, you'll save yourself some real dollars."