Price of gas falls; may fall some more

The price of gas is down about 6 cents a litre this morning compared to yesterday.

And it could slide some more in the coming days.

Why?

Because there’s concern about a slowing global economy, which would mean a drop in demand.
As a result, the price of benchmark American crude oil has fallen more than 12 per cent in just over a week. And for every dollar decline in the price of crude, the price at the pump falls nearly a penny a litre.
Gas price watchers say that could bring an overall decline of around 11 cents a litre.

While that’s good news for drivers, it may be better on a broader basis.

Pedro Antunes, chief economist at the Conference Board of Canada, told the Toronto Star it could positively impact inflation.

banner image: file photo

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