The price of oil is hovering just below US$30 a barrel, a 12-year low, which works out to about C$43.50 at current exchange rates.
Here’s an entirely unscientific look at a few things US$30 could buy you, some of which are definitely more fun than a barrel of oil.
Buy (maybe half) a tank of gas
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The price of oil has plummeted along with the loonie, but the price of filling up at the pumps has remained frustratingly high. The average price of gas in Canada Tuesday ranged from 77 cents per litre in Alberta to $1.10 in the Northwest Territories, according to GasBuddy长沙桑拿.
READ MORE: Gas price drops below 70 cents per litre in Edmonton
At those rates you could buy between 56 and 39 litres of fuel —; unlikely to fill up a large vehicle’s tank.
Treat the office to a round of double-doubles
For the price of a barrel of oil, you could treat your coworkers to Canada’s No. 1 human fuel —; coffee and donuts from Tim Hortons.
Grabbing a dozen medium coffees (at $1.75 each) will run you $21, throw in a dozen donuts and Timbits and you’ll be everyone’s favourite officemate for the day.
Coffee cups sit at a Tim Hortons in Oakville, Ont. on September 16, 2013.
CANADIAN PRESS/Chris Young
Take in an NHL game
OK, this one is a stretch. To catch the Habs host the Leafs Feb. 27 will run you $200 a ticket, with only single seats remaining.
But you could catch the Edmonton Oilers (how appropriate!) hosting the Ottawa Senators Feb 23, starting at $21 a seat on StubHub.
WATCH: Oil prices dropping due to more supply than demand
Grab a two-four
If catching the game live is off the table, grab some brewskies and stay in.
For the cost of a barrel of oil you could get 24 cans of Molson Canadian —; $43.95 in Ontario and $44.58 in B.C.
Cans of Molson Canadian beer are shown on the can line at Molson Breweries in Vancouver, Tuesday, Jan. 26, 2010. Beer is still the drink of choice for many Canadians who consume alcoholic beverages, in volume and dollar value.
HE CANADIAN PRESS/Jonathan Hayward
Suit up in a Canadian tuxedo
The denim-on-denim look can be yours with this sweet jean jacket from Mark’s Work Wearhouse, for only $34.88.
It’s our formal wear, Canada, own it.
How much to fill the barrel?
A barrel of oil is 42 gallons, just shy of 160 litres.
Bottled water goes for about $1.25 per 500 ml bottle or more, depending on how fancy your tastes are. At that rate it would cost at least $200 to fill a barrel with bottled water.Milk costs on average $2.33 per litre, totalling about $373 to fill a barrel.Maple syrup goes for about $12 for 500 ml; filling a barrel would run you about $3,840.