Gas Prices Dip Below $1.00/L In Eastern Canada

Posted by: Kenny Chan onOctober 8th, 2008

It has been nearly a year since gas prices inched pass the $1.00/L mark before shooting up towards $1.43/L. As the price of crude oil has retreated from its highs this summer, the price of gasoline is finally starting to drop as well. Drivers in Ottawa woke up to gas at $0.984/L while Toronto had prices hovering just above a dollar at $1.05/L.

On Wednesday morning at a small station on Montreal Road, gas was 98.7 cents a litre — about 30 cents lower than it had been at some stations this summer — and Rosemarie Dicaire was pumping it into her SUV to take advantage.

“Yeah, it’s good,” she said. “But hopefully it’s going to go down again.”

As worldwide oil demand continues to drop, and the price of crude oil continues to slide we should see even more drops in gasoline price. I was actually getting used to the higher fuel prices and didn’t mind it as I noticed many people opted not to drive and began taking public transportation. The question remains on when these people will jump back to the driving world or if they have gotten used to taking public transit.

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  1. […] sales took a huge nosedive. Now, just on the eve of 2009 oil prices have retreated by over $100 and gas prices are at the lowest point in recent memory as the world enters a recession. The world financial machine has ground to a halt […]