613-527-2100 P.O. Box 100, 18 Adelaide Street, Maxville, ON K0C 1T0 Gas Facts Fluctuating gas prices from oil companies in Canada are sometimes a source of great confusion for many people. MacEwen Petroleum Inc. would like to help by providing our customers with these helpful Gas Facts provided by the Centre for Energy , and the Canadian Automobile Association . 1. What factors determine the price of gasoline? Crude oil prices are determined in much the same way as other stock or commodity prices around the world - when inventories are low or demand increases, prices rise. Canada, like most other oil producing countries, does not regulate the price of crude oil, allowing Canadian-produced crude oil to sell at the prevailing world price. Non-OPEC countries like Canada and the U.S. do not have the short-term production capacity to make up for any decline, natural or otherwise, in inventory, making OPEC influential in crude trading markets - and over the longer term, affecting the price of gasoline. Another factor is the rise of global and regional commodity markets for refined products such as gasoline. Commodity buyers buy wholesale when gasoline is cheap, and sell for a profit when there is greater demand. This can trigger abrupt changes in regional markets - and the price you pay at the pump. 2. How much of the price of gasoline am I paying in taxes? That depends on where you live in Canada and where you buy your gasoline. Taxes are usually responsible for