Prince George gas prices are expected to drop again in mid-September once the transition from summer to winter-grade gasoline is complete.
That’s according to Dan McTeague with Canadians for Affordable Energy.
McTeague told MyPGNow.com the price drop will be a bonus reward for drivers who have dealt with a quiet summer for fuel prices.
“I would expect gas prices will move towards a dollar-sixty by the time we get around to the third week of September – while it’s a little ways off, it does indicate that there is downward pressure on prices.”
“These lower prices are going to stimulate higher demand. One way or another if we can make our way through lower interest rates, that will be very bullish around commodities such as oil and gas. I don’t think these lower prices will go on forever, especially as we get into October and November – if we see a further decrease in prices, refineries are simply going to stop producing what they normally do to meet demand.”
McTeague added while fuel prices at most places are between 169.9 and 174.9 cents a litre, they are much cheaper than they were 12 months earlier.
“That is substantially less than what we were paying at this time last year. We are down about 13 cents a litre compared to this same date in 2023. I suspect that we are in for some more good news as the summer tapers off.”
It’s also not uncommon for gas prices to remain stable during the American presidential election cycle.
“Democrats are doing their best with allies along with the business sector to try and minimize the impact of higher energy prices. They are quiet and that tells me there are a lot of factors at play in keeping these prices depressed – but they won’t be depressed forever.”
McTeague also mentioned global markets are very concerned right now about what is happening China due to their grim economic forecast.
Costco is the cheapest place to fill up at 167.9.
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