Thank you, Peter.
While I do not know much about the specific jurisdiction you're talking about, in general I think the important thing to note is that three major things drive Canadian pump prices. You have crude oil, which is obvious, as you noted. There are the refining margins, which are higher now than they were then. Part of this is going to the refining sector. I should note, though, that this is not excess profitability, per se. Gasoline, like crude oil, is its own commodity market that's driven by its own supply and demand balances. The relative value of gasoline in the world as a traded commodity drives what we call a crack spread or refining margin.
