It's safe to say that gas prices in Canada have been on a rollercoaster as of late. From insane highs that sparked a country-wide protest earlier in the year, to lows that had Ontarians running to fill up their tanks, these days you really never know what you'll be paying when you go to the gas station.
As of right now, Ontarians are experiencing a low in gas prices as a result of the dropping price of crude oil. While that doesn't necessarily mean great things for Alberta, it does mean a cheaper total at the pump. Unfortunately, these low prices aren't sticking around for much longer.
According to a GasBuddy representative, Dan McTeague, drivers are unfortunately going to have to expect a hike in prices this week. But the rise in prices doesn't have to do with just crude oil, considering the price of Canada's top export is still weak. There are actually a few other contributing factors.
The first is that the trade tensions between the United States and China are de-escalating. Pair that with the fact that Russia and Saudi Arabia have cut back on oil production and Alberta announcing yesterday that they are capping their own oil production, comes a rising price at the pump.
Right now, the jump in price is estimated at around 2 cents for this upcoming Wednesday. But beyond that, it's anyone's guess.
Meaning if you want to get the best bang for your buck, you might want to stock up on gas over the next few days. Especially considering that with how wild the market has been as of late, who knows if another major spike is on the horizon.
Source: CBC News