Gas prices could be a bargain this summer
Posted Apr 9, 2015 12:06 pm.
This article is more than 5 years old.
Gas prices are on the decline.
GasBuddy.com reports prices are down about three cents a litre today, compared to a week ago, and down 30 cents from the same period a year ago.
Prices are expected to continue to slide, which will make 2015 the cheapest summer driving season in years.
Drivers are expected to cash in on one of the few benefits of low oil prices: cheap gas.
Roger McKnight, Chief Petroleum Analyst with En-Pro International, says the world is awash in oil and refineries are looking to unload record stockpiles of gas for this time of year.
McKnight says get ready for more price drops at the pump.
“There’s no other price to go but down, due to record high inventories of crude in the States, and record high inventories for gasoline, and record high refinery runs for this year,” he said.
McKnight says families planning road trips will likely save hundreds of dollars this year compared to previous summers.
However, he points out because of the weak loonie most of those road trips will likely be in Canada.
