Skip to main content

Gas prices soaring in Canada

Petro-Canada recorded record sales in 2017 and fuel demand remains “robust” despite the increase in prices. Gas prices continue to rise across the country, however, Canadians show no signs of slowing down the amount of gas and diesel they put into their cars and trucks.

Pump prices have risen almost 20 cents per liter in Canada in the last three months for regular gasoline and are expected to continue increasing this summer.

On Wednesday, a liter of gasoline cost more than $ 1.60 at some stations in Vancouver.

Suncor, the parent company of Petro-Canada, announced on Wednesday a record volume of sales in its retail and wholesale operations in the country.

“People have not yet noticed,” said Steve Williams, CEO of Suncor after the company’s annual general meeting in Calgary. “Customer demand continues to be solid.”

At some point, Williams says that “customers will react when prices go too high and that will be worrisome.”

Vehicle sales reached record highs

Vehicle sales reached record highs also in 2017, largely because people started buy trucks and SUVs. Meanwhile, car sales reached their lowest level since 1964.

“One of the things we found in our research is that consumers change their buying behavior for about three months when gas prices go up,” said Rebecca Lindland, automotive analyst at Kelley Blue Book, a vehicle valuation company with headquartered in Irvine, California.

“Then they will go to a smaller vehicle, but after about three months, people go back, and buy bigger cars. And they buy a car that meets their long-term needs and desires against the short-term pain of paying a little more for filling the tank. “

Summer driving season, with one dollar in play

The reasons behind the rise in gasoline prices are plentiful, including that oil prices are at their highest point in three years, the Canadian dollar is weak against the US dollar, and the summer driving season is at March.

The oil industry in general does not seem worried about the fact that the increase in oil prices will affect the demand of crude worldwide.

The post Gas prices soaring in Canada appeared first on Conspiracy Talk News.



from Conspiracy Talk News https://ift.tt/2JRhE4v
via IFTTT https://ift.tt/eA8V8J
Labels:

Comments

Post a Comment

Popular posts from this blog

Facebook Personal Information Leaked Through The “Like” Button

Facebook Personal Information Leaked Through The “Like” Button : The Government of Japan today urged Facebook to improve the protection of It’s personal data, following the succession of incidents in which information has been leaked from millions of users of the social network throughout the world. -Japan urges Facebook to improve the protection of personal data . The  Committee of Protection of Information   in japan adopted a resolution in which it urges  Facebook  to  take measures to avoid similar cases, as the first warning directed to the American giant of Internet. Google Offering Products Based On User Data To Increase Revenue The document states that personal information of users of the social network included in their profiles or their browsing history  were automatically transferred to external pages of Facebook that had a link to the “like” button   , even if Internet users did not click on it. Therefore, he asks Facebook to “give clearer explanations about  h
Post a Comment
Read more

Death of young puppy aboard United flight triggers United States department inquiry

United Airlines dealt with new reactions on Wednesday regarding a young puppy dog which passed away in-flight soon after an attendant ordered it stored in an overhead box. The United States Department of Transportation stated it is taking a look at the events which resulted in the bulldog’s demise. UNITED STATE Legislator John Kennedy, whom previously on Wednesday sent out a letter to the United Airlines Commander in chief Scott Kirby, asking for relevant information regarding the significant amount of pets which have passed away while in the transporter’s care, published on Twitter that he intended to submit a bill on Thursday which will restrict airline companies from placing pets inside overhead receptacles. ” Violators will face significant fines. Pets are family,” he noted. Kennedy, within the correspondence, stated United’s “pattern of animal deaths and injuries is simply inexcusable.” The man mentioned that the numbers occurred while on air-planes  is  24 pets, which pas
Post a Comment
Read more