Prices have been seen as low as below a dollar in Niagara, and not expected to shoot up again until the spring or summer
As you drive around Niagara, you might be having a bit of skepticism at gas station prices, some are below a dollar.
Gas analyst Dan McTeague is thanking the elimination of the federal consumer carbon tax, and the price of oil per barrel much lower.
He's also looking at what individual gas stations could be up to. "Obviously that's not a real reflection of reality, unless there's a tax they're not paying, or they have a generous uncle, or a very friendly bank, that's willing to watch them lose some money. But, most gas stations to need to pay about $1.12 to replace the gasoline they're selling."
He doesn't anticipate any significant increases until the spring when summer gas comes along.
He's also pointing to the global situation, such as greater US oil production. "OPEC has been producing a lot more oil, probably about another 200,000 to 300,000 barrels a day. And, there isn't really any geo-political risks. Yes, there are tensions, but the geo-political risks that we saw this time last year, say with respect to the Middle East, is not as pressing as it was this time last year."
He anticipates prices rising a few cents due to the federal industrial carbon tax.
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