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Budget assumptions versus daily Brent spot prices and year-to-date (YTD) averages. Fiscal Year. 2022-23; 2021-22; 2020-21; 2019-20; 2018-19; 2017-18; 2016-17; Note: The daily Brent spot prices are the daily Brent closing spot prices from the U.S. Energy Information Administration
The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value. The current price of WTI crude oil as of July 04, 2024 is $84.06 per barrel.
Dec 30, 2018 · In my 2018 predictions, which I will grade in a couple of weeks, I projected that oil prices would reach $70/bbl in 2018. The price of WTI, the U.S. benchmark, rose to that level in May and...
- 1 Fuel Price Update Synopsis
- 2 Fuel Prices
- 3 Impact of Fuel Prices on Reimbursement Rates
Corporate Fleet Services (CFS) has been mandated by the Treasury Board of Canada Secretariat to perform the Annual evaluation of per-kilometre Reimbursement Rates for government employees that are required to use their personal vehicles while performing government business. Furthermore, the periodic impact of varying fuel prices was to be evaluated...
2.1 Energy market context
Over the past three months, global oil prices have been on an upward slope and by mid-May reached their highest levels in over three years. However, despite the apparent upward trend there have been several price drops, the latest and most significant occurring at the end of May. Overall, oil markets have been quite volatile during the last quarter. West Texas Intermediate (WTI) increased significantly from just over $60 USD per barrel in early March to $72 USD per barrel in mid-May then rece...
2.2 Gasoline prices across Canada
During the period from March to May 2018, gasoline prices in Canada have been steadily increasing. This has been driven by the rising global crude price, declining inventories as well as refinery maintenances and very strong demand for gasoline as the summer driving season arrives. The period’s average weighted price increased across Canada, except for Nunavut where the government sets the price, typically once a year. The increase across Canada has been at least 5% with the steepest hikes ob...
2.3 Sales taxes
For the current Update research was performed to see if there were any relevant changes to Federal and Provincial sales taxes that could have an immediate impact on the Reimbursement Rates. As of the date of this Update, no changes were observed in sales taxes anywhere else in Canada as compared to the previous Fuel Update. Moreover, no changes are foreseen at this time in the immediate future.
3.1 Fuel consumption
In calculating the fuel costs contribution to the total vehicle operating costs, the methodology employed in the Annual Report was strictly adhered to. Fuel consumption for every vehicle model in the study was thus combined with average prices per Province or Territory to determine the fuel portion of operating costs, based on an average of 20,000 kilometres per year.
3.2 Updated Reimbursement Rates
For comparison, the following table provides updated Travel and Commuting Rates, as well as rates previously calculated for the November 2017 Annual Report (for publication on January 1st, 2018) and the February 2018 Fuel Update (for publication on April 1st, 2018): Current Fuel Update Reimbursement Schedule (in dollars per kilometre) Note: All figures were rounded up to the nearest half-cent. The impact of gasoline prices on the Reimbursement Rates was moderate for the present Fuel Update. I...
The section below provides some of the 2017 highlights and 2018 expectations for the Newfoundland and Labrador economy. The Economy 2018 5. Consumer prices rose by 2.4% as gasoline and fuel oil prices put upward pressure on the overall price level.
The latest EIA data indicates that the U.S. crude oil production is forecast to average 10.7 mb/d in 2018, an increase of 13.8% from 9.4 mb/d in 2017. A further production growth of 9.35% is expected in 2019.
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Sep 1, 2017 · In Newfoundland and Labrador of Canada, Millard et al. (2017) confirmed that negative oil price shocks has a significant long-run influence on the state GDP, household income, household ...
