this post was submitted on 12 Apr 2025
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And Carney is getting credit for lower gas prices. Which is hilarious, as that is definitely because of Trump tanking the US economy. Either way, nothing to do with pp.
And OPEC increasing their supply.
The US and the Canadian economy. The gas prices going down over here is because our own industries are starving, so they're using less gas (especially trucks and delivery vehicles). Businesses use less gas? Gas becomes cheaper.
Carney has nothing to do with it, but it's funny people credit him for it. And if it helps prevent PP from getting voted in, the better.
So what happened to the carbon tax? I mean are gas companies just taking it as profit now?
What do you mean what happened? Prices in my area dropped 20¢ overnight the day it went out of effect. They have yet to go back up (although I fully expect them to).
Expecting oil and gas companies to charge less than the market can bear is the greatest delusion. The reason they care about the tax is because this is a captive market which still has some flexibility in demand. If the price is too high sales will go down - people will drive less and plan their routine trips more carefully. This is also why the price of gas goes up just before a long weekend - people will drive more, so they can increase price at no risk to sales volume.
So yes, removing the carbon tax just means the oil and gas companies will make more profits.