this post was submitted on 05 Nov 2024
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Three years of roaring oil prices could be coming to an end (www.cbc.ca)
submitted 2 weeks ago by Sunshine@lemmy.ca to c/canada@lemmy.ca
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[–] Frederic@beehaw.org 6 points 2 weeks ago (2 children)

gas in great Montréal: 1.52CA$/L

gas in USA couples minutes drive: 1.12$CA/L

I just filled my tank, ~60L, saved 24$CA

[–] avidamoeba@lemmy.ca 5 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

Generally pump prices aren't greatly influenced by oil prices, unless there are large swings. I don't recall the exact breakdown of the pump price but there are explainers out there. What stuck with me is that the oil price isn't a huge driver.

[–] i_love_FFT@jlai.lu 3 points 2 weeks ago (1 children)

Pump prices are affected by oil price: when oil goes up, pump price goes up. When oil goes down, pump price goes up. Simple as that ;)

[–] avidamoeba@lemmy.ca 1 points 2 weeks ago* (last edited 2 weeks ago)

Here's the breakdown in Canada:

Oil price constitutes less than half of the pump price, sometimes a lot less - a third in Vancouver. As a result movements in oil price could be significantly attenuated. Sometimes even completely offset by movements in other components of the pump price. And this isn't theoretical. I've seen plenty of examples over the years.

Source: https://www.canadianfuels.ca/our-industry/gasoline-prices/

[–] Sunshine@lemmy.ca 1 points 2 weeks ago (1 children)

Dang those are some nice prices!

[–] Frederic@beehaw.org 2 points 2 weeks ago

Yup I was surprised to see the gallon for US$3, so 3*1.4 (exchange rate) = CA$4.2 per gallon, divide per 3.78 and it makes CA$1.11 per liter