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With the Canadian dollar rising toward parity in recent days and oil trudging higher over the last few months, the days of pricey gas might seem to be once again close at hand.

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But when the loonie rises, it tends to soften the effect higher oil prices have on what Canadians pay for products made from crude such as gasoline, the vice-president of the Canadian Petroleum Products Institute said Friday.

When oil and the loonie rise in tandem

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