Gas prices down across Canada, likely to last a few weeks leading up to holidays

Toronto –

Drivers hoping for cheaper gasoline can refill after the value on the pump throughout Canada dropped on Thursday to a median 143 cents per litre.

A senior director of public affairs at CAA National mentioned the nationwide gasoline worth common has dropped by about 30 cents since final month however the worth has not fallen as little as the 136.5 cents common that was recorded on Dec. 9, 2021.

Kristine D’Arbelles mentioned gasoline costs are pushed by numerous elements together with seasonality, geopolitical conflicts, provide and demand and climate modifications.

She mentioned gasoline costs are anticipated to stay comparatively low within the subsequent couple of weeks, when they might go up once more resulting from greater demand nearer to Christmas.

“We’re actually heading into the holidays, so we might see a slight increase in demand and if we see an increase in demand, we tend to see an increase in prices,” she mentioned.

“If we do see an increase, it’ll be in the next couple of weeks and it will be very small.”

D’Arbelles mentioned drivers ought to make the most of the drop in costs as they may see costs go up once more quickly.

“This sort of lull in gas prices is going to be short-lived. It’s going to be around for maybe a couple of weeks,” she mentioned.

“Good time to to fill up, for sure.”

According to the CAA’s gasoline worth tracker, costs throughout Ontario are averaging round 140 cents down type 142 on Wednesday and 173 a month in the past.

In Quebec, costs are all the way down to 151 from about 154 a day earlier than and 183 a month in the past.

In Saskatchewan, costs are down barely to 146 cents, whereas Manitoba’s costs noticed simply lower than a one-cent drop to 152 cents.

Gas costs in British Columbia dropped barely to 158 cents on Thursday from 160 cents a day earlier than and 191 a month in the past.

Alberta was the one province the place CAA’s gasoline worth tracker present a rise within the worth on the pump as costs went as much as 133 cents on Thursday from 132 cents on Wednesday.

The Alberta authorities not too long ago launched non permanent gasoline tax aid by suspending the gathering of the provincial gasoline tax on gasoline and diesel between Jan. 1 and June 30 of subsequent 12 months.

On Oct. 1, the province mentioned it might reintroduce a tax of 4.5 cents per litre, nonetheless a far cry from the standard 13 cents.

The Ontario authorities mentioned it intends to desk laws that would depart the tax break that minimize gasoline costs by 5.7 cents a litre in place till the top of 2023. The minimize first went into impact on July 1 and was initially resulting from expire on Dec. 31.

This report by The Canadian Press was first printed Dec. 8, 2022.