I can answer some of this one.
I just want to clarify to everyone that whenever there was a change on taxation regarding fuel, it was immediately seen at the pump. When we had the carbon tax removed about a year ago, we saw it immediately. With the excise tax it was the same thing. It came into effect on Monday morning, and we saw it.
The problem we're facing is with crude. The price of crude globally has the biggest impact we see on gas prices. It went from about $90 a barrel to $95. Then there was an escalation in the Middle East, and it was $110 within three days. That pretty much eliminated the 10ยข per litre from the excise tax. Hopefully this de-escalates. Now the barrel is down to about $80 or $85.
The biggest impact on the price of gas is the price of crude as a commodity.
