Tuesday, May 16, 2000 Motorists roar as gas hits 74 cents Big oil companies accused of summer ripoff

By DICK CHAPMAN, TORONTO SUN Ripoff!

That was the reaction of many frustrated motorists last night as they met new inflation at the gas pumps of Toronto.

When prices soared 7 cents a litre at some city filling stations, angry consumers began to suspect big oil companies are simply getting a head start on profits for the coming long weekend.

"Weekends, weekdays or the beginning, we're always the losers anyway. We don't have a choice -- we have to pay," lamented landscaper Ricardo Moreno, as he squeezed $70 of regular into his Ford F-250 pickup truck.

Regular gas was still at 66.5 cents a litre shortly after 8 p.m. at a Kingston Rd. Esso station, where the price attracted 15 vehicles. Nearby competitors' stations were deserted.

"You know, it's really disgraceful," said Bonnie Glancy, who had no doubt about the timing of the price hike. "With the long weekend coming up, come on! Let's look at it realistically."

Esso employees received word to raise pump prices at 9 p.m. but other stations moved earlier.

At Beaver gas on Kingston at Morningside Ave., employee Najib Ali, 33, gave a lineup of about 10 waiting customers a break. He charged them 66.3 cents even after changing signs to 73.7 cents.

"I want to keep my customers coming," said Ali, who didn't switch his pump prices until all those waiting had been served.

John Percic, a Calgary-based media relations officer for Petro-Canada, said pump prices are simply reflecting a $5-a-barrel increase in the world price for crude oil.

On April 26, a barrel of crude cost $24.65, Percic said, and by May 12 it had jumped to $29.62.

Percic cited "high demand for product" for the crude price hike, and denied yesterday's increases in Toronto had anything to do with the coming Victoria Day long weekend.

"Prices have been going up across Canada," he said.

"In other parts of the country there have been significant price wars. It depends on supply and demand."

http://www.canoe.ca/TorontoNews/ts.ts-05-16-0010.html

-- Martin Thompson (mthom1927@aol.com), May 16, 2000