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Motorists, start your V-8 engines: gasoline in Ottawa has, for however briefly, fallen below $1 a litre.
A Costco gas bar at West Hunt Club and Merivale roads was selling a litre of regular grade on Wednesday afternoon for 99.9 cents, undercutting stations across the city and spurring long lineups at the pumps.
According to popular tracking site ottawagasprices.com, nearby Esso and Ultramar stations on Merivale were the next cheapest at $101.5 a litre at 6 p.m. Wednesday.
Gasoline prices have been falling steadily since peaking at an average $1.38 a litre in Ottawa in June, according to the website’s data, and a quick turnabout is unlikely. The emergence of the United States, China and other nations as major oil producers has reduced the ability of the Organization of the Petroleum Exporting Countries (OPEC) to control prices by cutting supply.
The slide is affecting the Canadian oil industry. On Wednesday, Alberta said it will be forced to trim spending because of declining oil revenue. It reduced its oil price prediction for the fiscal year by eight per cent.
The last time a litre of gas in the capital region was less than a loonie was in late 2010.
rbostelaar@ottawacitizen.com
查看原文...
A Costco gas bar at West Hunt Club and Merivale roads was selling a litre of regular grade on Wednesday afternoon for 99.9 cents, undercutting stations across the city and spurring long lineups at the pumps.
According to popular tracking site ottawagasprices.com, nearby Esso and Ultramar stations on Merivale were the next cheapest at $101.5 a litre at 6 p.m. Wednesday.
Gasoline prices have been falling steadily since peaking at an average $1.38 a litre in Ottawa in June, according to the website’s data, and a quick turnabout is unlikely. The emergence of the United States, China and other nations as major oil producers has reduced the ability of the Organization of the Petroleum Exporting Countries (OPEC) to control prices by cutting supply.
The slide is affecting the Canadian oil industry. On Wednesday, Alberta said it will be forced to trim spending because of declining oil revenue. It reduced its oil price prediction for the fiscal year by eight per cent.
The last time a litre of gas in the capital region was less than a loonie was in late 2010.
rbostelaar@ottawacitizen.com
查看原文...
