Victoria B.C. area gas prices rise to $144.9 this morning.
I am stunned.
Repeating what a relative told me on the weekend… he is an insider in the Petroleum distribution industry…
“On lower Vancouver Island, Trimac Trucking brings in the Gas and Diesel to all the stations… they are a one source supply for fuel in the Victoria area… It is a monopoly. There is an electronic system called Viper that auto-dials all the local gas stations with a digitally synthesized voice stating what the gas price will be that day…“
Trimac is simply the trucking company that delivers the goods… no more or less.
The product distributor calls the entire shot… hence the instant message and hence the simultaneous price increases.
Yesterday I noticed that the price of a Mexican avocado doubled to $1.89
That is one of the signs that we could be in for very hard times.
Meantime, gas and oil producers, their executives and investors will be living like Kings.