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Mar 1, 2021 · Western Canadian Select: Western Canada Select (WCS) is the main benchmark price for Canadian heavy crude and specifies delivery at Hardisty, Alberta. Mixed Sweet Blend: Mixed Sweet Blend (MSW) is the main Canadian benchmark price for mixed light sweet crude, blended at Edmonton, Alberta.
Sep 1, 2021 · Selected Crude Oil Prices September 2021 (Canadian dollars per cubic metre) Note: Prices are not reported on weekends and American statutory holidays.
See More Rates. Western Canadian Select (WCS) and West Texas Intermediate (WTI) Crude Prices. WCS is among the cheapest crude oils in the world. On average, WCS traded with a discount of US$17.2 relative to the WTI. In November 2018, WCS discount relative to WTI reached a record of US$46/bbl.
Date modified: 2021-08-12. Date Exchange Rate.
- 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 exhibited increased volatility. Prices rose steadily in May and June before peaking in early July with West Texas Intermediate (WTI) at $75.25 USD per barrel on July 13th while Brent reached $77.16 on July 5th. Due to rising uncertainty, prices exhibited increased fluctuations in July, however, since the beginning of August, they have been on a downward trend, presently recording their lowest level in three months. As of August 20ththe WTI st...
2.2 Gasoline Prices Across Canada
This summer gasoline prices have exhibited a relatively typical pattern – rising in the spring and early summer due to increasing demand and leveling during July and August as the demand reaches its peak and refineries begin preparations to produce less expensive winter-grade fuel in the upcoming months. While Canadian provinces have only recently seen a consistent lifting of restrictions, the U.S. begun reopening much earlier in spring. As a result, the demand for gasoline south of the borde...
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 in Canada as compared to the previous Annual Report. Moreover, no changes are foreseen at this time for 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 Annual Report (November 2020, for publication on January 1st, 2021), the February 2021 Fuel Update (for publication on April 1st, 2021) and the May 2021 Fuel Update (for publication on July 1st, 2021): 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...
Crude. Crude prices increased in the second quarter as inventories tightened upon increased refined product demand and limited crude oil production. The price of Brent crude (a global benchmark) ended the quarter at 74.76 $US/BBL, 18.4 percent above the end of the previous quarter.
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Average gasoline prices per litre and per Province or Territory were found to vary between $1.108 in Nunavut to $1.476 in British Columbia, with a Canadian average of $1.285, an increase of 18.3 cents from the previous Fuel Update (February 2021 for publication on April 1 st, 2021).
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