Gas Just Got a Lot Cheaper in Halton
It's true that gas prices in Halton are always in flux. If you have noticed that prices at the pumps have dropped, you’re not alone.
In fact, they’ve dropped pretty significantly, so if you’re planning to fill up, now is the time!
According to gas price analyst Dan McTeague at GasBuddy.com, prices have dropped to as low as 115.9 cts/l at some gas stations.
Across the board in Ontario, drivers are raking in the savings from an average of 4.6 ct/l drop in gas prices, and a 6.67 ct/l drop in diesel prices.
That was matched by a 4 ct/l drop overnight on Wednesday, according to McTeague.
From now until January, prices are set to fluctuate on a 5 ct/l basis, says McTeague.
You might be wondering - why the drop?
Well, the gas price specialist tweeted recently that the significant price decrease is - in part - due to the province scrapping the cap-and-trade carbon tax.
The extra 4 ct/l drop overnight was largely due to the overnight shift from summer-blend to winter-blend gasoline.
It’s true that the federal government requires refineries to reformulate their gasoline for summer vs. winter, so that the gasoline doesn’t become too volatile under warmer temperatures.
Summer-blend gasoline stays in effect until around September 15, when winter-blend gasoline is formulated, since there is less concern for gas volatility in colder temperatures.
And scrapping the carbon tax was on Premier Doug Ford’s agenda.
The province said in a recent statement that the “orderly wind down” of the cap-and-trade carbon tax is a key step towards fulfilling the government's commitment to reducing gas prices by 10 cents per litre.
According to McTeague, the drop is typically 3-4 ct/l.
In 2017, the drop was just 2 ct/l, and in 2016 it was 3 ct/l at this time of year.
McTeague says prices have fallen 13 cents in 13 days.
What do you think of the price drop?