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

Fernie Museum fundraiser a blast from the past

Retro themed evening raises over $10,000 for museum programming

Fernie Alpine Resort opens for preview weekend

Fernie Alpine Resort will be opening for a preview weekend, this Saturday and Sunday

Local boys raise money for sick children in unconventional way

Four local boys have found a way to use their passion for… Continue reading

Skid Steer stolen from Sparwood Transfer Station

Elk Valley RCMP are seeking the public’s assistance with a theft that… Continue reading

Golf pro has big plans for Sparwood Golf Course

Golf pro looks to a promising future for golf in Sparwood

VIDEO: Rare comic showing Superman’s 1st appearance to be auctioned

The 1938 comic features Superman hoisting a car over his head

Cokato resident receives Order of Canada

Dr. Bryan Kolb has been instrumental in helping society understand what happens inside our heads

Mainroad discusses road conditions, standards

Last week, Mainroad, the Ministry of Transportation, the City of Fernie and… Continue reading

Court adjourned again for man linked to Shuswap farm where human remains found

Curtis Sagmoen will appear back in court on Dec. 14

B.C. family advocating for drug decriminalization following death of son

Federal NDP leader Jagmeet Singh has noted the New Democrats would decriminalize personal possession of all drugs

Winning Lotto 6/49 purchased in Kelowna

Some lucky man or woman purchased a winning 6/49 ticket in Kelowna.

Public against wildfire monument in Kamloops

The Thompson-Nicola Regional District announced the monument to commemorate volunteers’ efforts

Charge laid against B.C. man in alleged cat torture

Joshua Michael Lemire, 20, has been charged with one count of causing unnecessary pain/suffering to an animal.

Oxford Dictionary responds by video to Victoria boy’s bid for levidrome

William Shatner tweet garners attention of Oxford

Most Read