I heard some of the usual radio bits about the gas prices going up because of the Victoria Day weekend. First off, I hope everyone had a safe and happy long weekend. Second, now that the fireworks are over, let's pause for a little context.
Crude oil and wholesale gasoline prices have been on an upward tick on the commodity markets the last few weeks, taking the price at the pump up a few cents per litre. So, compared to a few days ago, gas prices are up. But take a look at the chart above that maps out Canadian average gas prices for the last three years. The red one represents the year we're living in. The blue one is last year and the green...well the year before that (2007). So, while gas prices have eked up in recent days, your May Long weekend fill up cost you about $20 less than it did last year. Not bad. If Queen Victoria's face was on the $20 bill, I'd have a great ending to this post. Instead, I'll settle for the $20 portrait of Queen Elizabeth that's now tucked safely into my jeans.
Chart: Fuel Focus