Just filled up the car, and saved $25 compared to a July fill-up costing $62. Now if rent, milk, and many other products came down in price it would seem fair. The cost of rising fuel gets passed on to consumers. This year's rent increase was rationalized by higher oil prices, but it would be quite the surprise to see something like rent come down as oil prices fall. Makes one wonder how many companies/businesses already have gotten their stimulus packages because of price mark-ups which stayed the same despite lower transportation costs for example. The reports earlier this year that $100-a barrel oil is here to stay seemed pretty convincing at the time, and it was a nice justification for anyone to boost product prices (hello Newfoundland Power). If this consumer saved $25 on 46 litres of gas, then transport vehicles and other modes of transport that rely on the same cheaper fuel, must be saving proportionally a similar amount.
Here is a summary of Newfoundland & Labrador gas prices for the last 20 years.
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