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Home News Price of gas remains high, despite low crude oil prices

Price of gas remains high, despite low crude oil prices

The high price for gas has left many customers confused.

Even though oil moved down $1.96 to a two-month low of US$33.98 a barrel on Thursday, the price of gas remains high.

Cathy Hay of Calgary-based MJ Ervin says refineries weren’t making much money converting crude oil to gas in January. This was due to the

The high price for gas has left many customers confused.

Even though oil moved down $1.96 to a two-month low of US$33.98 a barrel on Thursday, the price of gas remains high.

Cathy Hay of Calgary-based MJ Ervin says refineries weren’t making much money converting crude oil to gas in January. This was due to the weak demand. As the demand wanes, it tends to result in lower margins.

She says in response to the weak demand, the refiners chose to cut back gas production.

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Minister of Energy, Mines and Petroleum Resources Blair Lekstrom says his predecessor, Richard Neufeld, sent a letter requesting to review gasoline prices in British Columbia.

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Lekstrom says many people have called for the regulation of fuel prices. He says many jurisdictions that regulated the fuel price isn’t seeing lower fuel prices. In fact, he says, some places are paying more for fuel than in British Columbia.

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