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Tuesday, July 28, 2015

Oil Price Drop Beginning to Reflect at Pumps!

Are You Noticing Lower Omemee Area Gas Prices? 

While we've noticed gas prices just south of Omemee, in Bethany, are often the lowest gas prices in City of Kawartha Lakes, the drop in crude oil prices is bringing welcome relief at the pumps at most Ontario gas stations. This seems to mirror the drop in gas prices across the United States, reported by Gas Buddy gas tracking app. Will the price drop even lower, level out or jump back up?
Here is what Gas Buddy predicts for gasoline prices in the coming week.

Gas Buddy Predicts Gas Prices May Drop Further !

According to Gas Buddy, the national average for a gallon of gasoline has continued to decline in the USA, following crude oil's plummet in the last week. Gas Buddy is predicting prices across much of the USA could decline in the week ahead, except for areas with active refinery issues. Could we see similar savings at the pumps here in Ontario?
Gas Buddy posted:
[The US gas price decline comes as crude oil prices continue to plummet under $62 per barrel ]"on economic concerns in China, the prospects of additional crude oil hitting global markets from Iran, and softer demand numbers coming from the United States as the summer driving season has likely peaked.....
For now, it would appear that the latter half of the summer will bring cheaper gas prices than the first half while this autumn is shaping up to give this past winter a run for its money in terms of cheap gas prices,. While gasoline prices have not matched the decline of crude oil, more relief is coming.
Many motorists have been asking why with crude oil prices testing late-winter lows are gasoline prices not lower? Main factors: sky high gasoline demand, various regional refinery issues, and more expensive to produce summer gasoline. If it was not summer, gasoline prices would likely more strongly relate to the price of oil, and that's why we're still expecting a nice decline into the autumn months. "
Whether or not the price drops, people in the rural Omemee area may find our new Omemee Pigeon eFlyer Lowest Gas Prices page useful.
What do you think will happen with gas prices?
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