Aside from the weather, gas prices might just be the most popular point of conversation for Canadians. Everyone seems to be an armchair expert on the subject.
In this episode, we explore what’s behind those ever-changing numbers at the pump with the help of Jennifer Stevenson from the Scotia Global Asset Management Investment Team.
Key moments in this episode:
1:01 — The biggest factor when it comes to the cost at the pumps
1:53 — Why refineries are another large factor in gas prices
3:26 — Why there are so many unknowns in the process, from refinery to retail, that impact prices
5:01 — Gas stations often make more money from chocolate bars than gasoline
5:56 — Why there are fewer and fewer refineries
7:23 — How the war in Ukraine is affecting gas prices and why that may soon change
9:00 — A breakdown of why OPEC has reduced their supply recently
11:15 — Explaining Biden’s use of oil reserves
13:34 — Why a recession may be the only thing that slows energy prices