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Canada Day Gas Prices Reach 7 Year Low

Friday, 30 June 2017 13:30

On average Canadians will be paying a lower flat rate for gas on Canada Day, but drivers in Ontario are feeling the sting of government taxes.

It may be hard to tell from a cursory glance at the pumps, but Canadians on average are paying less for gas.

GasBuddy.com reports lower prices across the country, but drivers in Ontario may be left scratching their heads as to how that's possible.

Senior Petroleum Analyst Dan McTeague says Ontarians are feeling the sting of government taxes.

"It was seven years ago that the Ontario government added 8 cents or so as a percentage to gasoline as well as another 4.6 percent in terms of Cap and Trade. On the Ontario government alone it's almost 13 cents a litre, and yet we're paying the same price we're paying before those taxes were applied so its nothing short of remarkable."

That being said, the flat average for gas on the Canada Day weekend is at it's lowest rate since 2010.

"So it's been seven years since we've seen prices this low as an average," McTeague says. "Now that doesn't mean that prices won't go up as retailers tend to restore their pretty poor retail margins as the demand is higher."

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