Another drop in gas prices expected overnight
Posted Aug 16, 2022 01:54:00 PM.
Looks like we will get another break at the gas pumps this week.
The price of gasoline is expected to drop by 3 cents per litre overnight.
That will put the average price at most local stations at close to $1.64 per litre.
Statistics Canada also reported July's inflation rate on Tuesday, which slowed to 7.6 per cent, with the deceleration largely driven by a decline in gas prices.
It marks the first decline in year-over-year inflation since June 2020.
The federal agency said gas prices rose 35.6 per cent year-over-year in July, compared with 54.6 per cent in June.
Even with the decline in gas prices, food prices at grocery stores were up close to 10 per cent, year-over-year.
— With files from The Canadian Press
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