RE:RE:RE:RE:Hope some took profits at 56$
cenovus does have upgrading and refining output but no retail sales
Canada: Lloyminster upgrader and refinery, AB
USA: Lima refinery, Toledo refinery, Superior refinery
CVE 52 weekpeak/current SP = 29.96/22.87= 1.31
SU 52 week peak/current SP = 57.32/50.64= 1.13
i think SU had fared better than CVE on this recent drop
PabloLafortune wrote: I use Texas because if you remove the 18 cents per gallon tax, you get a rough idea of retail and refining (and transportation) uplift (cost + margin) down there (price per gallon x 42.5 gallons/barrel less WTI). Its in the vicinity of US$32/barrel of oil.
Even Oregon which has a 40 cent/gallon state tax on gasoline, is $3.12 ie net of federal and state tax its $2.54/gallon or US$40/barrel of oil uplift.
The gas taxes in Vancouver are 57 cents (!) per litre. Net of taxes the price is $1.15 per litre. Refining and retailing upliit is approximately US$65-68/barrel of oil.
In Alberta the taxes per litre are 38 cents. gas price is around $1.38 (Costco is cheaper) so net of taxes gas price is $1 per litre or US$2.78 per gallon. Refining and retailing uplift is approximately US $50/barrel of oil.
Gas prices in Canada are higher than in the US because of higher taxes and higher refining and retailing uplift. Presumably not all of that is higher costs, some of that flows to Suncor's coffers is what I'm saying.
PS - if I were to look at food inflation, I would start here.
IOW, can't just look at the price of oil. Suncor makes money on refining ad retail whereas Cenovus for example doesn't. They're both down about the same in the past month but IMO, Ceonvus should be down more/Suncor down less.