This is something of which I know too much about! I'm a consumer advocate here in Newfoundland and Labrador and I can reflect one little experience that puts all in question of what you are paying for at the pump(or house if you're a heating oil user). In December of 1998,we formed a local group to investigate prices and subsequently,had meetings with Govenment and Big Oil.At the meeting for Big Oil we met with four oil company exec's whom we asked to explain the present price for the St.John's area. When they broke down the price,it was found that the difference between the "posted" and the "actual" was 5.5 cents a litre in the difference. Mysteriously,when the exec's were asked to explain the difference,they left the meeting.

Since then,the Government here has instituted "regulation" basing prices on the New York merchantile exchange(NYMEX).www.pppc.nf.ca

Government here has since regulated prices for heating Oils,Gasoline,Diesel and Propane,all ironically,DOWNWARDS IN PRICE.

Any questions,feel free to drop me a note at gasprices@hotmail.com

It's your money.