AppId is over the quota
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An energy consultant sees gasoline prices headed a bit lower for the remainder of 2011, but not by as much as many motorists would hope.
Fears of a double-dip recession have oil traders betting demand will fall — pushing the price down from around US$100 per barrel in July to just under $80 on Monday.
Since crude is used to make gasoline the price-drop should filter through to the gas pump.
But Roger McKnight with En-Pro International says the Canadian dollar takes a hit when oil prices fall, since so much of our economy is tied to the energy sector.
So he says the weaker loonie is muting a lot of the positive impact the lower crude prices should have on consumers.
Price-tracking website Gasbuddy.com says the Canadian average for gasoline was about $1.22 per litre.
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