The new version (pictured below) of the gas prices "pie-chart" will start appearing on Petro-Canada pumps in the coming days. It's something we've been doing annually since 2000...when the average price of gas in Canada was 71.5 cents per litre. A smaller pie indeed.
We use the Canadian Average Price for the previous year as it gives us a good solid number to work with. We use MJ Ervin data for that and the average amount of tax paid per litre. We then use our financial statements to determine the rest - which explains why these are developed and distributed in May.
The average price paid for a litre of regular gasoline by Canadians in 2007 was 101.8 cents per litre, which was the first year the average price was over a dollar. In 2006, we Canadians came close with a mark of 97.7.
The biggest change to the decal over the years has been the almost complete reversal in positioning between crude oil and taxes. When we launched in 2000 (with 1999 data) crude costs took up 30% of the pie and taxes were 51% - more than half the pie. As you can see, crude has jumped to 48% while taxes are now 32%. Crude went up roughly 31.5 cents per litre from 1999-2007. Taxes went up as well, but by 3.4 cents per litre. And to those who are checking to see if the drop in the GST made an impact - the average amount of tax paid per litre dropped from 32.8 cents per litre in 2006 to 32.5 in 2007.
To those astute readers who have also watched the profit portion jump from 1% to 3%. It now represents a profit of about 3 cents per litre compared to about 2 cents, where it stood for most of the last 7 years.
That's a bit of the story behind the pie-chart decal you've likely been staring at for a few years now.