Gas prices have been going down in the Parkland recently and that trend is expected to continue.
Dan McTeague, the senior petroleum analyst with gasbuddy.com says that prices could drop by another 5 to 8 cents a litre over the next week.
He added that he doesn’t expect a hike for the upcoming Canada Day long weekend unless trade relations between the United States and China improve, which could cause prices to take a U-Turn.
The trade dispute between the two superpowers is the main reason for the fall in prices and while that may be good on the wallet, it is not good for the global economy overall. If the low wholesale value of gasoline continues to be low it could have a negative effect on the Canadian economy due to the amount of gas we produce and sell.
McTeague says that this is the first spring in six years that gas prices have fallen instead of risen. And even though gas prices may continue to fall the federal carbon tax of 4.6¢/litre will make sure that prices stay above $1.10/litre.
