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RE:RE:RE:BNN Interview

[AlwaysLong683]

jboom70 wrote: Also think gas companies are taking advantage of the consumer right now. I remember $100 dollar a barrel oil was $1.00 a liter gas at the pumps here in Ontario.

I also live in Ontario and recall those days in 2011 - 2014 (when oil was trading between $80 and $100 a barrel. However, gas was selling between 1.30 and 1.40 a litre on average throughout Ontario and Canada during most of that period.

Now, 8 years later, gas is at all-time highs in the province (I've seen it as high as 1.83) with recent oil prices between $100 and $129 per barrel, OPEC countries / oil producers are making a killing, so they have plenty of room to increase production which will cut the price per barrel with cuts to gasoline prices to follow while still making great profits, However, they will likely hang on to this unexpected winfall of high oil prices until (like I stated in my previous post), gasoline comsumption falls significantly or the threat of people switching to EVs becomes a concern for them.