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

RDCK calls for reversal of Sinixt extinction

The board opposed a land transfer to the Westbank First Nation this week

Nelson city council to update banner policy

Council will revisit the wording of the policy at its December meeting

Forecasters promote avalanche safety awareness

Avalanche Canada advising backcountry enthusiasts to get proper training and equipment.

Meteorite fragments found near Crawford Bay

The pieces came from the fireball that exploded over Kootenay Lake in September

Nelson honours veterans on Remembrance Day

About 200 people gathered at Nelson’s cenotaph on Saturday to pay their respects to Canada’s veterans

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

The 1938 comic features Superman hoisting a car over his head

Nelson Leafs stretch winning streak to six

Jack Karran scored twice in the Leafs 6-3 win over Fernie

Nelson city hall selling bear-proof garbage bins

The city has purchased 100 bins and is charging residents $205

COLUMN: Will West Kootenay forests survive?

As with most things around ecology, the answer is not simple, says columnist Greg Utzig

NDP government to plug fixed-term rental loophole

Kootenay experts say local landlords not using loophole to raise rents

LETTERS: For and against proportional representation

From readers Maurice Rhodes and Ann Remnant

Nelson Leafs romp past Rockets in Golden

Ryan Cooper scored twice as the league-leading Leafs won 6-1

WATCH: Thousands gathering in Abbotsford for Const. John Davidson funeral procession

Celebration of life to follow at Abbotsford Centre at 1 p.m.

Most Read