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Gas Prices Will Come Down, Eventually

If you’ve been on social media and are wondering why your friends south of Highway 7 are paying less for gas, we have an answer.

With gas selling in Southern Ontario for as low as 117.9 a litre, as of tonight, we are paying between a 128.9 and 129.9.

But according to gas guru Dan McTeague of Gasbuddy.com it’s because stations just don’t sell enough in smaller towns to drop the prices as quickly as they do south of Highway 7, “The gas stations in smaller communities are still paying for fuel they bought two weeks ago, which was 13-cents a litre more expensive than it is today.  That is one of the reasons they can’t drop prices so quickly.”

McTeague continues, “(The prices) will come down, perhaps not as quickly.  A gas station in Bancroft may only go through 10,000 litres a day where one in Stratford may go through 30,000 in a given day. So, it’s not a matter of if; it’s a matter of when those prices adjust.”

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McTeague says Doug Ford’s campaign promise of lowering prices at the pumps is working.

“I understand the campaign promise was 10 cents for diesel, 10 cents for gasoline,” says McTeague. “He’s two-thirds of the way on diesel and almost halfway on gasoline.”

But, he warns with a new federal carbon tax program coming in the New Year the break will likely be short-lived.

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