Cheap Gas Coming To An End?

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The brief break at the pumps appears to be coming to and end locally, depending where you fill up.

The prices started to fall in December and falling below  $1.00 early in the new year. The price bottomed out yesterday at 94.5 cents a litre at most local gas stations. On average that is about 17 cents lower than this time last year.

Today, about four local retailers have increased the price by 5 cents, now coming in at just under a dollar.

Industry insiders have cautioned that 2019 could be a volatile year at the pumps. Dan McTeague, a senior petroleum analyst at GasBuddy.com said consumers can expect a roller coaster in regards to what consumers pay for the first half of the year.  McTeague says “extreme volatility” in oil markets are expected to continue to wreak havoc on gasoline prices in Canada in the early part of 2019.

As of this morning, some local retailers are still selling at around the 94 to 95 cent mark. McDougall Energy that owns the Esso stations, along with Circle K and Canadian Tire jumped prices by 5 cents Thursday morning.

“I think what we’re seeing here where oil prices — and pump prices as a corollary — are going up and down five and 10 per cent in a given week, much of this is really a harbinger of what we’re likely to see in 2019, extreme price movements,” McTeague said.

 

28 COMMENTS

  1. “Cheap gas coming to an end”?
    Gas hasn’t been ‘cheap’ in decades! but you can easily avoid McGouger energy’s rip off prices by taking a few minute drive across the border. They could easily stop this practice by many dollar conscious citizens by selling local gas for a reasonable price instead of making it their hellbent mission to gouge at every opportunity.

    • Oil is abundant, refineries that make Gasoline, not so much. The price of crude has a bearing on gasoline but it’s not the only cost associated. Taxes, demand, price wars etc all play a role.

    • Bill Kennedy Gas prices are down again today in many parts of the province, bringing more relief to Ontario drivers. While gas prices do fluctuate, ongoing savings of 4.3 cents/litre are a direct result of scrapping the cap-and-trade carbon tax. But only in the Sault, because 1 company owns most of the gas stations, is this UNTRUE!!

    • I don’t know, I’ve found the prices in the Sault to be fairly consistent with most of northern ontario for the most part. I’ve seen us a bit cheaper, I’ve seen us a bit higher, depending on which direction you travel and the time of day you get there. Comparing to southern ontario isn’t really fair. Everything in the north costs more since it has to be shipped up here. Having a monopoly in town certainly doesn’t help though, that’s true.

  2. I’m living in Windsor now. Gas was as low as 90.8 last week. Nearly every station is at 94-slmething and rising, now. Lower prices were nice, but time to reevaluate my budget.

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