What determines gas prices in Canada?

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What determines gas prices in Canada?

Rounding it up

  • Gasoline is an inelastic product, meaning Canadians will generally purchase it, regardless of the price.

  • All vehicles get different gas mileage, so no two cost the same to fill up.

  • Gasoline prices are impacted by the cost of producing and shipping it, taxes, weather, and competition.

  • The move to electric vehicles will have a drastic impact on the cost of filling up.

6 min read

Dan Bucherer
#Gas prices#electric vehicles#crude oil#economics

Dan Bucherer

Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.

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