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Gas prices down across Canada, likely to last a few weeks leading up to holidays

On Oct. 1, the province said it would reintroduce a tax of 4.5 cents per litre, still a far cry from the usual 13 cents. 
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Gas pump. Photo/ The Canadian Press

Drivers hoping for cheaper gas can fill up after the price at the pump across Canada dropped on Thursday, Dec. 8 to an average 1.43 cents per litre.   

A senior director of public affairs at CAA National said the national gas price average has dropped by about 30 cents since last month but the price has not fallen as low as the 136.5 cents average that was recorded on Dec. 9, 2021.

Kristine D’Arbelles said gas prices are driven by a number of factors including seasonality, geopolitical conflicts, supply and demand and weather changes.

She said gas prices are expected to remain relatively low in the next couple of weeks, when they may go up again due to higher demand closer to Christmas. 

"We're actually heading into the holidays, so we might see a slight increase in demand and if we see an increase in demand, we tend to see an increase in prices," she said. 

"If we do see an increase, it'll be in the next couple of weeks and it will be very small."

D’Arbelles said drivers should take advantage of the drop in prices as they might see prices go up again soon. 

"This sort of lull in gas prices is going to be short-lived. It's going to be around for maybe a couple of weeks," she said. 

"Good time to to fill up, for sure."

According to the CAA’s gas price tracker, prices across Ontario are averaging around 1.40 cents down form 1.42 on Wednesday, Dec. 7 and 1.73 a month ago.

In Québec, prices are down to 1.51 from about 1.54 a day before and 1.83 a month ago. 

In Saskatchewan, prices are down slightly to 1.46 cents, while Manitoba’s prices saw just less than a one-cent drop to 1.52 cents.

Gas prices in British Columbia dropped slightly to 1.58 cents on Thursday, Sec. 8 from 1.60 cents a day before and 1.91 a month ago. 

Alberta was the only province where CAA’s gas price tracker show an increase in  the price at the pump as prices went up to 1.33 cents on Thursday, Dec. 8 from 1.32 cents on Wednesday, Dec. 7.  

The Alberta government recently introduced temporary gas tax relief by suspending the collection of the provincial fuel tax on gasoline and diesel between Jan. 1 and June 30 of next year. 

On Oct. 1, the province said it would reintroduce a tax of 4.5 cents per litre, still a far cry from the usual 13 cents. 

The Ontario government said it intends to table legislation that would leave the tax break that cut gas prices by 5.7 cents a litre in place until the end of 2023. The cut first went into effect on July 1 and was originally due to expire on Dec. 31.

This report by The Canadian Press was first published Dec. 8, 2022. 

 

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