(Lisa Schick/980 CJME)

By CKOM News

Gas Prices

Drivers feeling relief at the pumps as gas dips below $1.80 per litre

Jul 26, 2022 | 4:41 PM

If you’ve been waiting for gas prices to dip before filling up your vehicle, now is the time to do it.

Regular gasoline prices across the province have dipped below $1.80 per litre in most areas.

While some worry prices might spike again before the long weekend, Patrick De Haan — head of petroleum analysis with GasBuddy — said holidays don’t typically affect fuel prices.

“The long weekend generally does not factor into gas prices,” De Haan said. “Basically, no holidays make an impact in terms of prices.”

He added the cost of fuel has essentially been declining every day in the province, mainly as a reaction to concerns about the United States’ economy.

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“(It is) brought on by fears of an economic slowdown, which would likely curb oil consumption,” he said. “That’s a trend that may continue for the next week or two, but what lies ahead beyond that is fairly uncertain.”

Some customers filling up at the pumps Tuesday said they’ve had to think twice about summer holidays and whether they want to travel long distances.

That wasn’t the case for everyone, though, as one family in the midst of a 15-hour car trip said they went ahead with most of their planned vacations and would just find the money elsewhere in their budget to cover their fuel costs.

De Haan explained the market can be unpredictable, and weather in the southern U.S. can play a factor in prices.

“We are seeing the peak of hurricane season start in the next few weeks,” he said. “Any major hurricanes could cause disruption when it comes to oil and gas production in the U.S.”