Quebec City, September 29, 2009 — With petroleum price indicators trending downward since the markets closed on Wednesday, September 23, the industry is needlessly delaying the corresponding adjustments it should be making to pump prices in three markets that are closely monitored by
CAA-Quebec.

Since September 23, the retail margins (which include retailers’ operating expenses as well as their profits) charged by the various industry players have remained much too high, as shown by the following variations:

From 7.6 cents/litre to 9 cents/litre in Montreal;
From 6.6 cents/litre to 9.3 cents/litre in Quebec City;
From 5.9 cents/litre to 8.9 cents/litre in Sherbrooke.

The current 52-week average retail margin for all of Quebec, as calculated by the Régie de l’énergie, is 5.4 cents/litre.

In CAA-Quebec’s opinion, this is one more vivid demonstration that the industry is failing to properly follow fluctuations in the market, resulting in a higher cost to motorists. “On September 23, in the Montreal region, we actually noted that the retail margin was 9 cents/litre, which is practically double the average of the past 52 weeks for that region (4.6 cents/litre). The picture isn’t much prettier in the Sherbrooke region or in and around Quebec City, for example, where the retail margin was almost
10 cents/litre!” explains Sophie Gagnon, CAA-Quebec’s Senior Director, Public and Government Relations.

To help them make informed gasoline-purchase decisions and get an accurate picture of the pump-price situation in any of Quebec’s 17 regions, CAA-Quebec urges all motorists to visit the Gasoline Watch microsite, part of its website. Today, the “realistic price” of gas posted by CAA-Quebec is
95.5 cents/litre in Montreal, 96.1 in Quebec City and 94.5 in the Eastern Townships.

CAA-Quebec, a not-for-profit organization founded in 1904, provides automotive, travel, residential and financial services and privileges to its one million members.

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