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N asked in Politics & GovernmentOther - Politics & Government · 5 years ago

Ramadan: Why does the Canadian-US dollar exchange rate have a strong correlation with the price of gas/liter?

We have a lot of expert political scientists on this section, so I thought I should ask here.

4 Answers

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  • Muhammad
    5 years ago
    Favorite Answer

    Canada's economy depends a lot on the price of crude oil

  • ?
    Lv 6
    5 years ago

    1) Approach of the summer driving season leading to a switch to summer gas formulations which leads to a reduction in supply. 2) Higher crude prices. 3) A lower Canadian dollar. 4) Lack of retail competition in Canada and 5) U.S. exports of gasoline and diesel out of North America creating tighter demand and supply conditions.

    Source(s): http://worthwhile.typepad.com/worthwhile_canadian_...
  • ?
    Lv 7
    5 years ago

    Salam.Because the economy of Canada depends on the oil products in the market place

  • Anonny
    Lv 6
    5 years ago

    Cause if gas prices dropped and Canadian dollar had a high value they'd basically be invisible and ruin the global economy

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