How the price of gasoline is determined: infographic

Infographic showing how gasoline prices in Nova Scotia are affected by world events, the New York stock exchange and the Canada-US exchange rate.

This infographic shows how the price of gas is determined. Factors include:

• world events, like wars, severe weather, and oil refinery shut downs
• average daily price of refined gasoline on the New York stock exchange
• Canada-US exchange rate
• costs added to correct past differences between the expected and actual price of gas
• transportation costs to move gas into and around Nova Scotia
• wholesale and retail margins
• federal and provincial taxes