# The Canadian dollar and the price at the gas pump: Why you can’t win for losing - The Globe and Mail

> Statistics Canada reported gasoline prices fell 5.4 percent year over year in November as crude declined. Western Canadian crude discounts narrowed after Alberta ordered production cuts, while the Canadian dollar weakened alongside falling world oil prices.

- Date: 2018-12-20 · published 2018-12-20T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/61782-the-canadian-dollar-and-the-price-at-the-gas-pump-why-you-can-t-win-for-losing
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Lower oil and a weaker loonie reduce Canadian energy revenues and currency strength, a bearish signal for oil-linked demand and a modest support for Canadian export competitiveness.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-01-29 | [Canadian dollar nears seven-week low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/55300-canadian-dollar-nears-seven-week-low-as-oil-prices-fall-the-globe-and-mail.md) | -7.1% | -8.8% |
| WTI | 2022-10-31 | [Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/39347-canadian-dollar-slips-to-six-day-low-as-oil-prices-fall-the-globe-and-mail.md) | +5.4% | -12.2% |
| WTI | 2024-07-26 | [Canadian dollar posts longest losing streak in six years as oil falls - The Globe and Mail](https://feedsoft.ai/events/29504-canadian-dollar-posts-longest-losing-streak-in-six-years-as-oil-falls-the-globe.md) | -2.3% | -7.0% |
| WTI | 2018-12-31 | [Canadian dollar ends 2018 with worst year since 2015 - The Globe and Mail](https://feedsoft.ai/events/61777-canadian-dollar-ends-2018-with-worst-year-since-2015-the-globe-and-mail.md) | +7.0% | +14.7% |
| WTI | 2020-03-17 | [Canadian dollar sinking: The petro-loonie resurfaces at exactly the wrong time - The Globe and Mail](https://feedsoft.ai/events/54359-canadian-dollar-sinking-the-petro-loonie-resurfaces-at-exactly-the-wrong-time.md) | -19.2% | -30.3% |
| BRENT | 2021-11-30 | [Canadian dollar dips as Omicron variant concerns offset GDP gain - The Globe and Mail](https://feedsoft.ai/events/44264-canadian-dollar-dips-as-omicron-variant-concerns-offset-gdp-gain-the-globe-and.md) | -0.2% | +4.8% |
| BRENT | 2018-05-31 | [Oil Price Slides, Canadian Dollar Exchange Rates Side With It \| Exchange Rates UK](https://feedsoft.ai/events/65244-oil-price-slides-canadian-dollar-exchange-rates-side-with-it-exchange-rates-uk.md) | -3.1% | +0.2% |
| BRENT | 2021-11-22 | [Canadian dollar weekly losing streak continues - Business & Finance - Business Recorder](https://feedsoft.ai/events/44266-canadian-dollar-weekly-losing-streak-continues-business-and-finance-business.md) | -8.8% | -7.9% |

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/business/briefing/article-the-canadian-dollar-and-the-price-at-the-gas-pump-why-you-cant-win/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.