Don’t expect lower gas prices to last, going up 4 cents/litre
Posted Aug 28, 2015 05:08:33 AM.
Last Updated Aug 28, 2015 09:48:52 AM.
This article is more than 5 years old.
Gas prices are now below $1 a litre at many stations across Waterloo Region, but don’t expect the good news to last for long.
The key reasons for the lower prices are the end of the summer driving season and the low price of crude oil. On Monday, crude oil traded at $38.22 US a barrel, its lowest price in six years.
Unfortunately our days of fuel going for less than a dollar may be numbered. Oil prices jumped over 10 per cent on Thursday, hitting a high of $42.56 US a barrel, its highest gain since March 2009.
However, some stations have dropped their prices even lower in the face of nearby competition.
According to Gas Buddy, some stations in Waterloo Region are selling gas for under 98 cents a litre.
The price for a litre of regular a year ago was around $1.30.
