Fuel forecast not too painful

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According to experts, fuel prices for Moose Javians shouldn't be too bad, especially when compared to other areas of Canada.

With spring finally arriving and summer fast approaching, motorists will be visiting the gas pumps for good weather road-trips.

In Canada last week, the price at the pump averaged $1.34 per litre, up from $1.28 a month ago, according to GasBuddy.com.

Oil prices dropped in the U.S. last Wednesday after their government  announced supplies had grown more than expected last week.

Crude oil fell to finish at U.S.$102.67 per barrel in New York, while dipping down 81 cents to end at $117.97 per barrel in London.

The Times-Herald asked Dr. Jason Childs, an economist at the University of Regina  what the drop in the other two countries could mean for Canadian drivers filling up.

“You have to keep in mind that it’s only about a one per cent drop, so it’s not going to affect us too much, but it won’t hurt either.” Childs went on to explain driver’s should pay attention to what’s happening in certain states south of the border to gain perspective on future pricing. “Whatever happens in California and New York is going to have the biggest impact due to their size and consumption.”

For more on this story, pick-up an upcoming issue of the Times-Herald.

Organizations: University of Regina

Geographic location: California, New York, Canada U.S.

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