Gas prices down
Posted May 21, 2010 5:17 pm.
This article is more than 5 years old.
So much for the long weekend gas price conspiracy.
It’s long been believed that gas stations purposely jack up the price before a long weekend, but that’s not the case this may long.
Many stations have dropped the price to 91.9 cents a litre, down about three cents.
Energy analyst Peter Linder of Delta One Capital tells 660News, it’s easy to explain. “The bottom line is simply in the last couple of weeks we’ve seen a 20 per cent decline in crude oil prices from almost $90 to under $70(US) a barrel. Clearly that should move the price of gasoline down.
He doesn’t think prices at the pump will rise above $1.00 a litre this summer.
Linder says oil prices would have to spike or there would have to be refinery problem combined with a much busier than expected summer driving season.
