Downward trend in gas prices expected to continue: analyst
Posted October 10, 2014 12:30 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – You’ve likely noticed gas prices have dropped quite a bit lately and it’s something you can get used to for the time being.
A gas price analyst says the downward trend is all thanks to a lack of demand, as the summer driving season is long over. Michael Ervin adds there has also been a decline in crude prices.
He tells us the idea that you pay more over a long weekend — like Thanksgiving — is not true.
“Some prices don’t go up before a long weekend any more than any other usual weekend and over the Thanksgiving long weekend, typically, prices that weekend are proceeded, if anything, by a decline in prices — not an increase.”
“Once we see that fall decline, we usually see relatively stable pump prices. So, stable high in the summer but stable low in the winter,” he explains.
The average price in BC today is about $1.29 a litre, which is a couple of cents higher than the average across the country, in part because of the gas taxes we pay here.
