How Retail Gas Price is Calculated

Posted on January 31, 2009. Filed under: Miscellaneous |

Check out this article on how gas price is calculated

Formula of gas price =

(Wholesale “rack” prices, based on the prices of gasoline futures and crude oil on New York markets, in Canadian dollar +

Ontario gasoline tax (14.7 cents) +

Federal gasoline tax (10 cents) +

7 to 9 cents profit margin)

x 5 % GST

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