Sorry I can’t stop beating this dead horse, but can somebody explain something to me:
I live in Canada, over the last two weeks our dollar has risen to it’s highest value in 30 years (so they say on Global News). Yet the price of gas still has risen ~$0.12 in the same time (gas is now $1.289/Liter where I live).
How is this possible? I buy quite a bit of network gear out of the states, and when the Canadian dollar goes up the prices go down.
I also thought that Canada imported the majority of the gas we use, if that is the case the price should fall.
Also the price rose ~$0.05 a liter before our long weekend because of the added demand of all the travelers, now the weekend is over and the price is still high.
I know gas isn’t as high as it is in European countries, but I don’t think they produce as much crude oil as Canada does.
It may be that the value of the US Dollar has dropped, making gas more expensive in terms of the US Dollar.
I thought Canada exported crude. Isn’t Canada the biggest supplier of oil to the US?
Could it be emissions taxes?
According to this month’s Wired, the price of gas in Norway is $6.48/gal ($1.68/liter?)…
Yes, we export CRUDE. We import gas. Canada doesn’t have the refinery capacity to supply itself with refined fuel. As such, we export to the US to be refined, then import it back for use in vehicles.
I just think that petroleum/gasoline prices have risen faster than the value of the Canadian Dollar. Is that so crazy?
Does Canada (and Norway) export the right type of crude? IIRC (at least as of 10 yrs ago when I heard this,) USA is an exporter of oil to Japan from Alaska – heavy oil, that is, not light oil we could use to make gas. It wouldn’t surprise me if Canada and Norway are in the same position.