Canadian drivers benefit from falling gas prices as crude oil slumps over US$7 per barrel this week
Canadian drivers are seeing lower gas prices as fall approaches, reported by BNN Bloomberg.
According to GasBuddy.com, the average gasoline price across Canada stood at 152.1 cents per litre on Friday morning,
This marks a drop of over 10 cents from August's average price and more than 14 cents compared to the same time last year.
Gasoline prices fluctuate with the global price of crude oil, which experienced a significant decline of over US$7 per barrel this week. This represents the largest weekly drop in crude prices since October of the previous year.
Energy analyst Rory Johnston attributes the price slump to market concerns about the global economic outlook and a decrease in oil demand.
