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Oil price hike at wellhead but consumer relief until Aug
The wellhead price of oil rose by 2.25 a barrel to 25.75 with a 60 day delay before consumer prices rise. Gasoline and heating oil will not reflect the increase until Aug 29 while natural gas costs rise Aug 1 to about 4 per thousand cubic feet. Ottawa froze a federal tax at 65 cents per thousand to year end, softening the price spike. Ed Broadbent says the rise will lift the CPI by one percentage point.
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Ottawa
Toronto
Alberta
Saskatchewan
British Columbia
Ed Broadbent
New Democratic Party
Allan MacEachen