Description: The price of crude oil has been dropping, with the price per barrel down about twenty per cent in the last thirty days. Then why are prices at the pump still so high, with drivers in British Columbia paying up to $2.39 per litre, the highest in North America? Part of the problem stems from refinery shutdowns, including one in Ferndale, Washington, impacting the supply in B.C. With demand at high levels, price pressures are strong.
Date: September 30, 2022
1) How is the price of gas in your university town?
2) Have you changed your driving patterns in the face of high gas prices?
3) At the start of chapter nine of Wiley’s Financial Accounting: Tools for Business Decision-Making the feature vignette discusses a number of points about WestJet. How have fuel prices impacted the airline industry?