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Sunday, February 12, 2012

Gas Prices Fall To Lowest Level In Months As Tropical Storm Fay Fears Subside

08/19/2008  | CityNews.ca Staff

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Mother Nature is helping to give you a break at the gas pumps Tuesday.

There were concerns about tropical storm Fay impacting oil platforms in the Gulf of Mexico, but it appears the weather system won't be as damaging as first thought as it churns toward Florida.

That means the price of crude has gone down, and with it the cost of a fill-up. Crude was selling for a little less than $113 a barrel Tuesday on world markets.

If you waited to fill up your tank you'll be paying about three-and-a-half cents less per litre to do so Tuesday. Marquees across the city were showing prices in the $1.23/litre range for regular. That's the lowest prices have been in three months.

Liberal MP and gas watchdog Dan McTeague said it was May when we last saw prices dip to the $1.20 per litre range.

However we're still nowhere near the lowest price of the year, which was in February. At that time regular fuel went for about $0.99 a litre. That's the only time this year it's been under a buck.

See McTeague's gas predicting website here.

Find the lowest gas prices in the city here.

 
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