2023-12-13 03:45:57
Quebec motorists who have enough gas in their tank to make it to the end of the week should not rush to gas stations too quickly if they want to save some money.
Gasoline price analyst Dan McTeague assured LCN Tuesday evening that, according to his forecasts, the cost of gasoline will fall in the coming days.
“Prices will probably decrease […] four cents per liter by Friday, six cents by Sunday,” said the president of Canadians for Affordable Energy.
Prices should no longer move too much for the holiday period, with the cost at the pump hovering around $1.48 in Montreal and $1.56 in Quebec, a difference which can be explained by the greater margin of profit that the capital’s retailers make according to Mr. McTeague.
This drop in price worthy of an end-of-year gift might be explained by the “glut” of fuel, with an overproduction of around 5 million barrels per week in the United States for a month and a half, noted the ‘analyst.
The international context, with a moribund economy in China and OPEC which cannot agree to reduce its production, also explains the fall in black gold.
However, it remains to be seen whether gasoline prices will not rise once more in January and February, when refineries will focus more on the production of fuel oil and diesel.
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