Oil closes in on $75 as the U.S. dollar weakens further; Retail prices up

Oil closes in on $75 as the U.S. dollar weakens further; Retail prices up
http://ca.news.yahoo.com/s/capress/091013/business/oil_prices

Summary:
The slightly risen gas prices in U.S. last week was because the weakening of U.S. dollar. The gasoline price had been rised by two cents to US $2.489 per gallon. Gasoline prices in Midwest rose especially quick, but the price of gasoline was still so low. In Canada the average gasoline price is 95.9 cents per litre. Beacause of the increasing gasoline price, the consumers will begin to weighing what they need more, for example they will choose between the colder weather or higher gasoline price in winter. The Refiner are going to take facilities off line, which means they will make less fuel since less people will be using it.


Connection
This article links with chapter ,. They linked because in order for an accountant working in gasoline company to calculate the cost of the gasoline and the net profit, the accountant will needs to be knowledgeable to the comodity market. ALso accountants will be dealing with the currency exchange rate because they have to be updated with information about the currency exchange. The accuracy of the currency exchange will affect the company's revenue and expenses that might incur from foreign trades.


Reflection:
After i read this article, I think it is not fair that the gasoline price in Canada is a lot more higher than U.S. Since the currency of U.S. dollar is decreasing, the gasoline price in Canda should decrease as well, but while the gasoline price in U.S. reach US$75, it is still CND$98 in Canada. I think the $20 differences is not necessary while $1 U.S dollar is equal to $1.029 Canadian dollar.