TORONTO – We may soon be in store for a break at the gas pumps.
The gasoline market in Chicago is favourable, and when that’s the case, it affects the prices here.
“So far, it’s looking very, very good. Demand is stable and of course supply remains quite abundant,” explains Dan McTeague of GasBuddy.com. “We might actually see average prices now in Winnipeg over the next couple of days trend well below a dollar a litre.”
Another reason for cheaper prices is the daily increase in production of oil in Alberta, as plants recover from the gigantic wildfire in May.
“It’s getting better, improving. There’s no concern as far as gasoline and diesel production are concerned going into the mid-part of summer,” McTeague says. “I think we’re going to be fine.”
McTeague expects the cheaper prices to hold for the next couple of weeks.