Description: Have you noticed it’s costing you more to fill the tank these days? At the start of the pandemic, gas prices fell precipitously, and Canadians were smiling at least one aspect of the shutdown. But now gas prices have come roaring back. This article from the Toronto Star offers a few reasons why you may be digging a bit deeper into your pocket to pay for a fill-up.
Date: March 17, 2021
1) Do you or any of your friends at university regularly drive a car? Have you been watching the gas prices as they creep up?
2) Of the five reasons given in the article, which do you think is the largest contributor to the increase?
3) Chapter 9 of Wiley’s Financial Accounting: Tools for Business Decision-Making, contains a section dealing with “natural resources.” What is the equivalent term for depreciation when we are talking about natural resources such as oil?