So much of the Canadian economy is interconnected. While filling the tank costs much less than just a month ago, these savings also represent huge red flags to Canada’s economy as a whole. Yes things can get around from manufacturer to consumer for less, and it probably means more people will travel, helping out the tourism industry — but as one of the backbones of the Canadian economy, barrel costs being this low spells trouble.
However, it’s hard not to heave a little sigh of relief at the pump. Those trips to Nelson or over the Monashee for an appointment or shopping will now sting a little less and allow us more access to our take-home pay. Commuting from rural residences to town for things is cheaper. With lower fuel costs, more of our money can be spent on groceries, or luxuries, or let’s face it, bills, which seem to keep increasing.
With any luck this downturn in the cost of fuel will also effect flight fares — who remembers a time that we could buy a plane ticket before a fuel surcharge nearly doubled the fare?
Being that the Arrow Lakes communities’ economy doesn’t rely heavily on the oil and gas industry this could mean a great year for tourism, which also helps our area and local businesses. As with anything, what goes up must come down but we say, try to look on the bright side and appreciate the temporary silver lining.