Gas prices expected to remain low
Published Monday, August 26, 2019 4:01PM EDT
Pioneer Gas on Walker Road in Windsor had gas listed at $105.6/litre on Monday, Aug. 26, 2019. (Ricardo Veneza / CTV Windsor)
You may have noticed some gas stations across the region posting some of the lowest gas prices seen all summer.
In some spots between Windsor-Essex and Chatham-Kent, gas was near the dollar a litre mark.
Most expected prices to be going in the other direction after the introduction of the carbon tax earlier this summer.
GasBuddy-dot-com analyst Patrick DeHaan points to U.S. President Donald Trump's trade war with China for diminishing oil demand and sending prices falling.
“Oil prices have been under considerable pressure and a lot of that has to do with the trade riff between the U.S. and China that threatens the economic growth across the globe,” he says.
The lower prices come as the deadline approaches for new gas pump stickers in Ontario that will highlight the cost of the federal carbon tax.
The stickers need to be used at all Ontario gas stations by August 30. Failure to do so could result in a fine up to $10,000, but Premier Doug Ford promises to be lenient.
“What we're seeing is probably more of a political calculated move, but certainly knowledge is power. In the United States and Canada, taxes on fuel have continued to go up in recent years and informing motorists of that is not necessarily a bad thing,” DeHaan says.
The price of oil saw a small increase Monday morning, but DeHaan doesn't expect prices to skyrocket again as retailers move to the cheaper winter-mix of gasoline.