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Fall Gas Forecast

Tuesday, 22 September 2015 07:25

We're switching for winter blended fuel, but Oxford isn't seeing the full benefit at the pumps yet.

WOODSTOCK - Gas prices in Oxford County have been hovering around a $1 a litre mark for the past couple of days.

It gets much cheaper as you get closer to London where retailers have to compete with CostCo who is selling their gas as a loss to get more people to shop at their store. Senior Petrolum Analyst and founder of GasBuddy.com Dan McTegue tells Heart FM prices always drop this time of year as we move towards what is known as a winter blend after September 15th. 

"When gas liquid is subject to heat, it tends to expand or evaporates, you don't want that happening in the tank of a car and you certainly don't want that from an environmental point of view because it winds up being in the entire environmental chain. So for that reason we see a  significant requirement in the blends of gasoline that is available in the summer and the gasoline we purchase in the winter is usually $3-4 cents a litre cheaper." 

McTegue says he expects prices will be lower than we have been seeing lately over the next couple of weeks. 

"Well you see pretty much now between $95 cents a litre to $1.05 as the norm and I think we will continue to see that in this area for the next couple of weeks, but it is very difficult in a hyper volatile environment to predict these things." 

"I'm still waiting for that correction and hopefully that will happen soon," says McTegue. "And it will bring prices down below a $1.00 a litre but looking at the prices right now I'm just not seeing that." 

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