Canadian oil accounts for much of the gasoline production in Minnesota, and it’s a critical feedstock for refineries throughout the Midwest. Heavy Canadian crude typically trades at a discount to U.S. light sweet oil, but that discount has hit historic proportions this fall as can be seen in the divergence between two benchmark oil prices: WCS (Western Canadian Select priced at Hardisty, Alberta) and WTI (West Texas Intermediate priced at Cushing, Oklahoma). Weak Canadian oil prices have boosted the profits of refiners, but don’t appear to have been passed down to gasoline consumers.