Oil industry gouging willing consumers
To the Editor,
Canadians are a very sheep-like breed, who will accept the vicious mistreatment of customers in the matter of pricing of gasoline.
For years, the oil industry has gouged customers by its unconscionable pricing of the product, and this organization – in spite of various names – is, in fact, a monopoly.
We are being robbed by the industry, as the price of oil has nothing to do with shortage, use or any other concerns.
The barrel price is set by traders in the stock market. When stock prices increase, the oil industry jumps on the price and moves the retail cost up at a far more increased amount than is reasonable.
And the oil industry does so immediately, in spite of the fact it must have millions of litres of product in the system – and by the greedy pricing, enjoy a windfall profit increase – with no additional production and distribution cost.
However, when the price goes down, the industry piously states it must keep the price up until the product in the system has used up all the higher priced raw material.
We must also note, at this point, that our federal and provincial governments happily accept these increases since the product is taxed at all levels.
Perhaps, if we were all to contact our federal and provincial members, who are our employees, demanding that Canadians get some fair treatment, although unlikely as is seems, we may just cause some consideration.
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