The Petro Canada is showing an offering of 1.09 a liter for regular gasoline at the pumping station at the junction of Highway 8 and 5A. There has been a dramatic drop in prices at the pumps in the last few weeks coming from mid $1.30 a liter to todays low. Petro Canada also offers a loyalty card program that gives you another 12 cents a liter making it possible to get regular gasoline at under the dollar a liter range. The CIBC is reporting that Canada has lost 5 billion in revenue in the recent drop in prices. We take that as lost revenue from exports. To balance the net benefit of lower gas prices to the consumer we must assume that a drop in price is a more broadly fare benefit to more people domestically then lost export revenue. Today in History: December 17th 1935 The DC-3 aircraft makes its first flight.  

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