You may have noticed major fluctuations in gas prices over the last week, some going up by 10 cents and others dropping by just as much .
The Yo-yo prices have been hard to keep up with starting before the long Canada Day weekend, Esso stations jacked prices to $1.34 for two days, then dropping to $1.24 before Canada Day. Other stations held prices steady at $1.24 . Following the long weekend, prices continued to fall to $1.22 a litre then all the way down to $1.19 for one day before prices everywhere settled in the $.1.29 mark.
Gas and petroleum expert, Dan McTeague from GasBuddy.com says the fluctuations are due to the tightness in the market. A tightness in supply that McTeague said is largely due to a fire that occurred last week at the world’s largest oil refinery, Philadelphia Energy Solutions.
As of today, July 5th, the lowest price for fuel is $1.05 a litre in Moraviantown First Nation near Chatham Ontario. The average price in Ontario is $1.22.2 a litre