Just before writing this blog, I filled up my tank at $1.18 a litre, which if memory serves, is about 17 cents less than what I was paying back in the summer.
Enjoy it while you can, I thought, but it is also difficult to completely forget the good, old days when we were paying about 79 cents a litre and grumbling any time it went higher than that, so it’s all about perspective whether the price is too high or too low.
It’s all about perspective too on where you’re watching prices drop or rise, with varying impacts felt in oil-based economies such as Alberta, where so many jobs depend on that industry, compared to manufacturing centres such as Ontario and Quebec where the cost of getting products to market fluctuates with oil prices.
The price of oil, whether it’s high or low, is traditionally good news in one area, bad news in another, but certainly, one industry that felt the pinch along with many others earlier this year when the price was high was the golf industry.
The price of oil affected transportation leading to rising prices in food and beverage and other products we use. It not only affected us every time we filled our tanks, but also our members and public golfers. It also had an impact on the machines we regularly use at our golf operations.
Driving home after filling my tank, I thought it’s too bad the lower prices hadn’t hit when the season was in full swing to offer golf operations a break on their costs. The way that oil prices go in peaks and valleys, chances are it will be sky-high again when the 2015 season begins.
Yet, this story by Don Pittis of CBC News suggests that as the world demand for oil lessens, lower oil prices won’t necessarily be a temporary blip. Have a read and then, come back to answer this week’s GNN Poll on where you think oil prices will be when the season starts again.
You can vote below or on the GNN home page and please feel free to expand your thoughts in the Comments section below.
Will oil prices remain low throughout the winter and into the 2015 golf season?
- YES (57%)
- NO (43%)