There have been times in recent years when the price at the pumps, including taxes, was less than one per cent of the cost of a barrel of oil. I believe this should be the designated maximum price for gas or diesel fuel. So if oil is $98.50 per barrel, the most a station can charge for gas should be 98.5 cents per litre.
The oil companies should be allowed to adjust the price no more than one week behind the cost of crude, and use the highest price of the previous week as the limit. The current methods of pricing show we have a cartel, not competition.
The Americans are cr ying because their gas just reached $4 per gallon. We are paying close to $6 for the same amount, and we are an oil-exporting country. While I wouldn't want to live in a country like Venezuela, they pass their oilproducing advantage on to their people by selling very cheap gas at the pumps. Why can't we?
