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

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

Missing Kelowna woman found

Christine Olsen-Meissnitzer has been located

More than $270,000 raised for Kelowna-based hospice

10th Swinging with the Stars fundraiser for the Central Okanagan Hospice Assoc. is a big success

Former Kelowna councillor and radio talk show host Barrie Clark dies

Clark remembered as a fair-minded ‘statesman’ who saw the big picture when it came to Kelowna

Getting into the swing of spring

Kelowna garden shop is busy now that spring has finally arrived

Lake Country brain injury service expanding

CONNECT Communities is expanding to Hamilton, Ontario

Wilkie returns home with three medals in tow

Paralympic champion returns home with a gold, silver and bronze from the 2018 PyeongChang games

Golden Knights win 4-1, remain undefeated against Canucks

Vegas gets points from 12 players in dominating effort versus Vancouver

Alberta budget plans for Trans Mountain expansion

Finance Minister Joe Ceci says expected revenues will be factored into budget forecasts

Parents respond to suicide alertness workshops

SafeTalk session discusses recognition and intervention awareness

Proposed gun bill attacked by gun owners and shooting victims

The federal government tabled the bill today in order to tighten the sale and tracking of firearms

New anti-radicalization centre in the works for B.C.

Centre aims to help ‘vulnerable individuals on the path to radicalization’ before they turn to crime

B.C. bravery, public service honoured by Governor General Julie Payette

UVic basketball coach Kathryn Shields inducted into Order of Canada

Sea lion with rope wrapped around neck saved by Vancouver Aquarium

Steller sea lions are a species of special concern and some populations are endangered in parts of Alaska

Most Read