Globe and Mail – People often think that the price of crude oil is the only factor affecting the retail price of finished petroleum products, but this is not true, said Cathy Hay, an analyst at Calgary gasoline consultancy MJ Ervin & Associates.

Other fundamentals also affect prices, and these can differ between gasoline and diesel, she said.

Currently, relatively high diesel prices are a result of an imbalance between supply and demand. Worldwide diesel supplies are extremely tight at the moment, particularly in Europe, where there has been a major shift away from gasoline-powered cars.

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