457 – Gas Costs May Be Higher Than You Think

Debt Free in 30

Jun 3 2023 • 32 mins

The price at the gas pump includes a lot of hidden costs, and they are going up. How will this impact your budget? What does it mean for the future of car ownership? On today’s podcast, Ted Michalos and Doug Hoyes discuss the hidden costs of gas and how the increase in some of the price components will mean you’ll only be paying more to fuel your car. They also talk about the Ontario government’s plans to increase ethanol in oil and how that may impact fuel efficiency, and again, your budget. Tune in for an insightful conversation!

Related Links:

Statistics Canada. Table 18-10-0001-01  Monthly average retail prices for gasoline and fuel oil, by geography https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000101

Government of Ontario, Fuel Price Components: https://www.ontario.ca/motor-fuel-prices/

Government of Ontario, Cleaner Transportation Fuels: https://www.ontario.ca/page/cleaner-transportation-fuels

Ontario Regulation: O. Reg. 663/20: CLEANER TRANSPORTATION FUELS: RENEWABLE CONTENT REQUIREMENTS FOR GASOLINE AND DIESEL FUELS https://www.ontario.ca/laws/regulation/r20663

Government of Ontario Press Release, November 26, 2020: https://news.ontario.ca/en/release/59352/ontario-to-be-national-leader-and-require-cleaner-and-greener-gasoline

Ethanol Production Using Corn, Switchgrass, and Wood; Biodiesel Production Using Soybean and Sunflower, research study: https://link.springer.com/article/10.1007/s11053-005-4679-8

The effect of bioenergy expansion: Food, energy, and environment, research study: https://www.sciencedirect.com/science/article/pii/S1364032114000677?via%3Dihub

Federal government, Ethanol, https://natural-resources.canada.ca/energy-efficiency/transportation-alternative-fuels/alternative-fuels/biofuels/ethanol/3493

Environmental outcomes of the US Renewable Fuel Standard, research study: https://www.pnas.org/doi/10.1073/pnas.2101084119