Canadians Gouged for Gas

Canadians have been paying too much for gas for nearly two years, says an analysis released today by the Canadian Centre for Policy Alternatives. The analysis, by economist and CCPA research associate Hugh Mackenzie, calculates how much Canadians should be paying for gas and finds that since August 2005 prices have consistently exceeded levels that would be justified on the basis of costs and normal profit margins.

“For example, drivers in Toronto are currently being overcharged 15 cents per litre,” Mackenzie says.

The situation is the same across the country: in Halifax drivers are currently overpaying 19 cents per litre; 21 cents per litre in Winnipeg; 18 cents per litre in Edmonton; and a whopping 27 cents per litre in Vancouver.

“And every penny per litre generates an additional $1 million for the oil and gas industry every day from gasoline sales alone,” says Mackenzie.

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