Taking a look back through our vast collection of record books, historic tomes and copious notes, we come across the fact that on the night of November 30th, 1947, residents of Calgary, Alberta, went to sleep secure in the knowledge that the next morning, when they went to fill up the gas tanks of their cars and trucks, they would pay an average price of 46.9 cents a GALLON. (About 10 Canadian cents a litre)
Imagine their horror that next day when they opened their newspapers or turned on their radios to learn that they would soon be faced with a gasoline price of–get this–47.9 cents a gallon. Yes, 47.9 cents a gallon.
The shock! The horror!
What happened was Imperial Oil, as the record books show, announced it would be increasing gasoline prices by one cent a gallon because of what they termed were the “increased costs” of production. Other Canadian oil companies soon jacked up their prices as well. The consumers hollered “collusion!”
Fast forward to 2014. Gasoline prices are hovering around a dollar something (Cdn) per litre. World wide oil prices seem to be dropping.
Yet pump prices, especially for diesel fuels, don’t seem to be falling as fast.
The consumers are hollering “collusion!”
The more things change, the more they stay the same.