LETHBRIDGE- It seems everywhere you look, gas is listed at a different price – even some of the same companies vary a few cents.
Danny Le Roy with the Economics Department at the University of Lethbridge says gas stations buy their fuel in bulk, and in advance, so the price is always fluctuating.
“Gasoline retailers price their gasoline based on what it costs them to replenish their inventory, so if they can get that gas for their inventory at low cost, this is reflected in the retail price consumers pay.”
When gas stations purchase fuel at a cheaper price, motorists see the benefits. According to albertagasprices.com, Costco members can fill up for 74.4 cents a liter. After that, the price varies, with the highest at 89.9 a litre.
With the nearly 10 cent difference across the city, here are the potential savings for consumers.
We compared a standard-sized car tank at 40 litres and a standard size truck tank at 100 litres, based on a price of 75 cents per litre.
- Budget 2024 failed to spark ‘political reboot’ for Liberals, polling suggests
- Train goes up in flames while rolling through London, Ont. Here’s what we know
- Peel police chief met Sri Lankan officer a court says ‘participated’ in torture
- Wrong remains sent to ‘exhausted’ Canadian family after death on Cuba vacation
When compared to the highest price at nearly .85 cents a litre, these are the savings:
While the difference might not seem like much, it can really add up. Here is the comparison with the highest cost of fuel last year at $1.26 per litre, to present day, and the savings are obvious.
When filling up at the pump, it comes down to consumer choice, and whether they feel shopping around is worth the savings and the time.
Comments