Drivers See Cheaper Prices at the Pump as Crude Oil Slumps

CALGARY — Canadian drivers are enjoying cheaper gas prices heading into fall.

The average gasoline price in Canada was 152.1 cents per litre Friday morning, according to price tracking website GasBuddy.com.

That’s down more than 10 cents from the average price in August, and more than 14 cents from one year ago.

Gasoline prices rise and fall with the global price of crude oil, which has fallen more than US$7 per barrel this week.

That’s the biggest weekly slump in crude prices since October of last year.

Energy analyst Rory Johnston says markets are jittery about the outlook for the global economy and declining demand for oil.

This report by The Canadian Press was first published Sept. 6, 2024.

The Canadian Press

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