Gasoline prices to hit 7-year Canada Day lows

What’s up for Canada Day? For a change, it’s not average gasoline prices.

Canadian motorists hitting the road for the country’s 150th Canada Day weekend are expected to find the lowest average gasoline prices in seven years, according to GasBuddy.com.

The retail fuel price tracking company says that drivers will be paying an average of 104.4 cents per litre, 13 cents less than the 10-year average of $1.17 and the lowest Canada Day long weekend price since 2010.

GasBuddy senior petroleum analyst Dan McTeague says the prices are a welcome relief after years of summer price increases.

He says this weekend will “put to rest the myth” that gas prices always go up for the holidays.

Michael Ervin, a fuel market analyst with the Kent Group, says lower gasoline prices mainly result from North American refineries being able to buy oil at lower prices.

He said refinery production has been strong, allowing gasoline inventories to build and preventing an imbalance in supply and demand that might force prices higher.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Marijuana to be legal in Canada Oct. 17: Trudeau

Prime Minister made the announcement during question period in the House of Commons

Parksville mayor announces he won’t run again

Lefebvre endorses Coun. Kirk Oates for mayor ahead of Oct. 20 election

Supportive housing project divides Parksville

Hundreds attend public hearing for 222 Corfield St. rezoning

Woman steps on dirty needle in Qualicum Beach

Delegation suggests Vancouver Island Health Authority distributes retractable needles

Accomplished British chef creating at Crown Mansion restaurant in Qualicum Beach

Butlers at the Mansion gets new executive chef, formerly with Gordon Ramsay’s Claridges

In reversal, Trump signs executive order to stop family separation

President had been wrongly insisting he had no choice but to separate families apprehended at border

UPDATED: Polygamous wife appeals conviction in B.C. child bride case

Emily Blackmore was found guilty of taking her underage daughter to U.S. to marry church leader

Marine trail planned for Discovery Islands

Agreements with First Nations vital for passage through traditional territories

B.C. sets deadline for Indigenous salmon farm consent

All 120 operations will need agreements by 2022, province says

Family of 4 from Oregon believed to be missing in northern B.C.

RCMP, Search and Rescue crews searching area where vehicle was abandoned

B.C. creates public registry to track real estate owners

The first registry of its kind in Canada aims to end the hidden property ownership

Police watchdog called to Kelowna after car destroyed in crash

A motor vehicle incident has closed Highway 33 in both directions

BC SPCA receives 400 reports of dogs in hot cars so far this year

Society is again urging people to leave their pets at home if they can’t keep them safe in the heat

8 B.C. communities rank as the friendliest in Canada

Eight B.C. communities can claim they are the friendliest in the country.

Most Read