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Loonie hits 12 year low, Chinese market suspended

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Another roller coaster ride on global markets.

Trading was suspended on the Shanghai index again after Chinese stocks nosedived in morning trading.

The turmoil also sending the price of oil and the Canadian dollar to new multi year lows.

The loonie fell to just over 71 cents US.

The price of oil now trading at just under $34.00 a barrel.

But despite the seven year low, prices at the pumps are not reflecting bargain prices.

A quick check finds the price of gas across St. Catharines ranges from a low of 84.8 cents a litre to just over $1.00 a litre.

The average price across the region, is around 90 cents a litre.


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