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

Missing Chilliwack teen found ‘safe and sound’

Boy found just as mother was organizing search

Chilliwack Rotary club reports $4,200 theft at storage shed

Rotary Train Shed adjacent to homeless camp on reserve land broken into Oct. 15

Rainfall warning issued across Lower Mainland into the weekend

50 to 70 mm of rain expected to fall starting overnight Friday and into Sunday morning

UPDATE: Chilliwack mother issues plea for info on missing son

Informal search party organized for 13-year-old boy not seen since Thursday

Husband pleads guilty in relation to 2009 killing of Kulwinder Gill

Abbotsford woman died in hit-and-run conspiracy

VIDEO: ‘Lyle the singing pig’ searching for home

SPCA say the pig is ‘not opera-ready’

B.C. search groups mobilize for missing mushroom picker

Searchers from across the province look for Frances Brown who has been missing since Oct. 14.

Search for missing B.C. man a race against winter weather

David Jeff of Williams Lake was last seen in Kamloops during the chaotic wildfire evacuations

Man steals police car, goes for a ‘slow’ ride

Mission RCMP say the motive of the theft is unknown

Dodgers punch ticket to World Series

This will be the first time the Los Angles Dodgers have made it to the World Series since 1988.

Surf group winning the war on plastic bags

The Tofino Co-op will no longer provide plastic bags, following in the footsteps of the Ucluelet location that already made the change earlier this year.

All three victims identified in Fernie arena ammonia leak

Wayne Hornquist and Lloyd Smith were from Fernie and Jason Podloski from Turner Valley, Alta

VIDEO: Body discovered at scene of dumpster fire behind Langley City mall

Area behind furniture store taped off after firefighters find deceased woman while battling blaze

5 to start your day

Sentencing in murder of Surrey teen expected, Maple Ridge mayor to step away from politics and more

Most Read