Loonie Oil and Gasoline

Those predicting the Canadian dollar will reach parity with its U.S. counterpart this summer may have to revise their forecast, to the end of this week.
At last word the loonie was continuing its surge and it opened this morning, at 98 point nine cents U.S.
The key in all this is the U.S. Federal Reserve, which continues to hold U.S. interest rates at historic lows hoping to fuel the slow developing American economic recovery.
Meantime, speaking of fuel, the price of crude oil is also on the rise again, and at last report was approaching 82 dollars and 50 cents U.S.
That could reverse the Canadian gasoline price trend of the past week, as the latest 60 city cross-country survey by Calgary-based MJ Ervin and Associates, shows the national average fell one point two cents a liter to a dollar three point two.
However, that is still higher than the common posted price for a regular liter in Fort St. John, which remains at a dollar one point two…and, among the six BC survey cities is second only to Prince George, at 99 point 9 cents a liter.
BC-Gas-Prices-dot-com has the provincial average over a dollar and eight cents a litre, for the second consecutive week…nearly 15 cents higher than this time last year.

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