It's no secret that gas prices as of late have left many Canadians considering taking the train or walking to work or school. The cost at the pump has gotten so ridiculous that earlier in the year, Canadians attempted a country-wide gas strike for a day in an attempt to bring attention to the exorbitant prices.
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Ultimately, the lowered cost comes as a result of the falling price of crude oil. Meaning the lower the price of the oil is, the less you have to pay at the pump. With crude oil taking such a large hit in the past week, Canadians have seen a similarly large dip in prices at their local gas stations.
There is some good and bad news with the lowered prices of gas, being that the prices are going to stick around a lot longer than many would assume, but the bad news is that it definitely isn't going to last forever.
Gas Buddy claims that average prices across Canada fell around 10 cents a litre over the past month which is associated with a serious correction on the gas market that was previously overly inflated. Prices as of right now are similar to the ones we saw this time last year.
If you are curious as to how long this will last, according to Gas Buddy representatives, the lowered rates should last "towards Christmas," meaning it will definitely be a happy holiday for drivers and motorists! Though it also means that if you do drive, you are going to want to take advantage of these lowered prices leading up until the holiday season considering a spike could be in the forecast afterward!
Source: Huffington Post