Gas prices are at $158.9 cents per litre across southern Ontario, down nearly 60 cents from the peak of 215.9 cents per litre on June 11.
Gas prices are at a welcome low of $158.9 cents per litre across southern Ontario, down nearly 60 cents from the peak of 215.9 cents per litre on June 11.Get the latest local updates right to your inbox
However, President of Canadians for Affordable Energy Dan McTeague says prices are “bottoming out” and are expected to rise Thursday and in the coming days. “While we get this bit of a break, I never thought I'd see the day where 158.9 would be celebrated, I suspect that we're going to start to see gasoline prices soon track diesel prices,” McTeague told CP24 Wednesday morning.He added that the rise in prices can be attributed to an ongoing volatile oil and gas market.“You have an example of very panicky paper traders, people not really physically involved with the delivery, the production of oil and gasoline.
“Europeans don't have enough natural gas, electricity, coal, energy prices for all of the European Union. Members are going to be at levels never seen before. The alternative- diesel and oil, which is what they're going to burn along with coal. What it means is that gasoline prices can't stay where they are,” he said.
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