Patrick Canada Russia county Patrick Ukraine experts shock Patrick Canada Russia county Patrick Ukraine

Could ‘demand destruction’ bring gas price relief? Experts are not so sure

Reading now: 576

gasoline, that may not necessarily be the case.Experts are torn on when or even if drivers might see significant “demand destruction” – an economics term for a sustained decline in demand for a product due to excessively high prices – at the pumps.In theory, reaching an unsustainable price would serve as a tipping point and ultimately cause fuel prices to fall, finally offering drivers some relief.

But analysts say we’re not there yet even though gas prices are hovering around all-time highs. High gas prices likely to continue into 2023, research firm says “Canada’s gas prices are at inflation-adjusted records.

But I continue to be astonished at the high level of demand we’re seeing,” said Patrick De Haan, head of petroleum analysis for the fuel price tracking service prices have been rising since February, ever since Russia’s invasion of Ukraine sent shock waves through international energy markets.On Thursday, the national average retail price at the pump in Canada was 208.5 cents per litre, a whopping 76 cents higher than last year’s average of 132.2 cents per litre.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Kourtney Kardashian - Travis Barker’s health update: Hospitalization caused by pancreatitis after colonoscopy - - city New York - Los Angeles - state Alabama
Travis Barker’s health update: Hospitalization caused by pancreatitis after colonoscopy
Travis Barker has all the support of his friends and family amid the recent news of his hospitalization. Now that it has been reported by TMZ that the musician is suffering from pancreatitis, and doctors believe that it was triggered by a recent colonoscopy.It was also revealed that the hospitalization on Tuesday was the result of an inflammation of the pancreas, which may cause intense stomach pain, and even nausea.Kourtney Kardashian and Travis were photographed entering the hospital, with the singer being wheeled around in a stretcher and Kourtney walking behind him, as the medical staff helped him.The singer was taken by ambulance to Cedars-Sinai Medical Center in Los Angeles, with his 16-year-old daughter Alabama Barker staying by his side, and posting an update on social media, sharing a photo of her dad while resting in a hospital bed with the caption “Please say a prayer.”Alabama also posted to Instagram Stories a message, showing concern for her dad, writing “please send your prayers.” Travis’ son, Landon Barker, was not able to join his dad at the hospital as he was in New York City preparing to join Machine Gun Kelly at Madison Square Garden.The singer was in a lot of pain, as he wrote on his Twitter account “God save me,” earlier on Tuesday, making fans concerned about his health.