Look Who it Was Random video

Higher fuel costs would eventually contribute to higher prices elsewhere in the economy.

485 views · Published 2 April 2017 · 5:27 · Indexed 21 October 2026

Channel: Mike Martins · 2017 · News & Politics

Watch on YouTube

"energy wars will be the next big thing" - Mike Martins 

YouTubers, Mike Martins here. Gas prices are jumping again in Metro Vancouver and Greater Victoria, and according to the article I'm looking at today, these higher prices could stick around for the next couple of weeks.
We're seeing prices around $1.41 per litre in Vancouver, while Victoria is topping approximately $1.31 per litre.
And here's my question: WHY?
According to the article, we're being told there are supply issues connected to refinery maintenance in Washington State. The Phillips 66 refinery in Ferndale is shut down, while BP's Cherry Point refinery is also expected to close for maintenance.
But consumers are the ones paying the bill.
When gasoline goes up, it doesn't stop at the gas pump. Trucks need fuel. Farmers need fuel. Businesses need transportation. Food needs to be delivered. Eventually those additional costs can work their way through the economy, and the people who feel it the most are ordinary working people already struggling with the cost of living.
And apparently we could get another increase later in April when refineries begin switching over to more expensive summer gasoline blends.
I remember when oil was over $100 a barrel and everybody said gasoline had to be expensive because oil was expensive. Then oil collapsed, and people started asking why gasoline wasn't falling nearly as dramatically.
So what's actually determining the price we're paying at the pump?
I'd especially like to hear from viewers outside British Columbia. What are you paying for gasoline today?
If you're in Australia, the United States, New Zealand, Europe or elsewhere in Canada, put your local price in the comments so we can compare what everybody is paying around the world.
And if anybody working in the petroleum or refining industry knows approximately what it costs to refine and deliver a litre of gasoline, I'd like to hear from you too.
$1.41 a litre in Vancouver. Where does it go from here?

#gasprices   #canadianeconomy  #fuelprices  #gasoline  #costofliving  #oilprices  #metrovancouver  #workingpoor  #inflation  #transportation  #foodprices  #gasprices  #mikemartins

More from this channel