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Stable Gas Prices Could Carrying Into Long Weekend

Thursday, 30 June 2016 06:18

Compared to last year's price at the pumps, people in Oxford County are paying a good deal less for a fill-up.

If you're going to be travelling this long weekend, you don't need to dread filling up at the pumps.

Senior Petroleum Analyst with GasBuddy.com Dan McTeague says we're not looking at any significant price increases.

"There really isn't much in the way of disturbances as far as gasoline is concerned so what we're now seeing is a very positive circumstance where supply is exceeding demand."

He attributes the stability to some favourable conditions south of the border.

"Refineries especially in eastern United States which reflect here in Ontario and in Quebec and in the Maritimes, have been running at solid rates. Demand is relatively stable and so almost for that reason it looks like prices are going to be pretty much where they have been for the last couple of weeks."

McTeague goes on to say its quite possible that we may see the lowest prices going into the Canada Day Long Weekend since 2010 according to Gasbuddy.com.

"On average prices right now are anywhere from 12 - 15 cents a litre less than they were at this time last year. So as we're filling up our vehicles with 80 - 85 litres of gasoline, chances are we're saving around 10 dollars per fill-up. That usually buys a few extra marshmallows or hot dogs, or whatever other refreshments we have this weekend."

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