Fill up while the getting's good.
If the first two words that come to mind when you think of the Canada Day long weekend are "ROAD TRIP," we have some good news for you. Prices for the upcoming July 1 weekend have dipped to a seven-year low, with national prices averaging $1.04 per litre. As of the writing of this story, that number is still holding strong.
The numbers, as reported by the CBC via Gasbuddy.com, show fuel prices that are 14 cents lower than the 10-year average. While we'll never understand drivers lining up at pumps for an hour just to save a few cents, 14 cents is certainly nothing to scoff at, especially if you're planning on travelling hundreds of kilometres over the course of the weekend.
What's even more strange is that gas prices have been down in June compared to January. Typically, it's the other way around - more people are on the roads in the summer, after all, so gas prices usually go up then, too.
"Motorists are getting a well-deserved break at the pump after years of high summer gas prices," said Dan McTeague, a senior petroleum analyst with GasBuddy. "Call it an early Christmas present in July, complete with fireworks in the skies rather than at the pumps."
The CBC says there are three main reasons why prices are so lower this year: crude prices are down (around $45 USD for the last several weeks), lower than expected demand for gas, and large gasoline inventories in the U.S.
Interestingly, gas prices at this time last year were quite similar compared to 2017, though slightly higher, averaging around $1.05 per litre. According to Gasbuddy, the lowest recorded price on this date was in 2010, when a litre of fuel cost about $1.01.
What that means for Canadians is that travelling by car isn't necessarily going to be a hugely expensive undertaking - depending on what you drive, of course. The biggest challenge, as always when you're road tripping, is choosing the best DJ. Godspeed, drivers. Fill up while the getting's good, drivers.
Photo: hockeyplayer87 on Flickr