In fact, regulations are not the only factor affecting price changes.
As I said, demand is very strong and still on the increase despite an increase in production capacity, which is not as quick as the increase in demand. Moreover, some very specific events took place last year and this year. In fact, refineries had to be closed down for various reasons. For example, in Ontario, the Imperial Oil refinery in Nanticoke was shut down for five weeks, which decreased supply and increased the prices.
Therefore, with regard to the 24.3¢ profit shown in the graph for 2007, we note that the closing of refineries had a specific and substantial impact on gas prices in Canada, because one of the 19 large productive refineries was shut down for a duration of five weeks. This brought about a decrease in available inventory. When demand remains strong despite a substantial rise in prices, there is a substantial effect on gasoline prices.