IRAC poopoos on Islanders
It was announced today in the paper that we as islanders would no longer get our 8 hour notice on gas price changes because apparently they negatively affect the retailers. Wow, the one small thing we had going for us as consumers of sweet crude is now gone. So, my guess now, is what exactly does IRAC do? They are obviously make their decision on the whim of the oil companies, and not on reality. I would love to see deregulation happen here in PEI and let the market decide. Some good ol’ competition might actually spur us to choice.
I get tired of reading that “Gas prices drop 4 days in a row” as a CNN headline, when I know I will never see that here. When gas drops to below $100 a barrel, it takes 2 weeks for us to see any of that. But hey, if a storm MIGHT cause a slowdown in production, price is up next day no problem. The last time oil was this cheap a barrel was around April, and the average price for gas here was like $1.12/L, right now we are paying $1.27/L. I know there are more factors, but this is just getting stupid. Cut the program, and put that 1.2million a year it costs the Island to regulate our prices and inject that into cutting tax on the gas.
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