The average price of gasoline across Canada tumbled over the last month, from 170.9 cents a litre to 142.1 cents a litre on average, according to GasBuddy, a tech company that tracks gas prices in the U.S and Canada.
One energy analyst says markets are in "panic mode" due to a possible recession, geopolitics and the Bank of Canada's latest interest rate hike. These factors have caused the recent dip in gas prices across the country but the relief is not expected to last.
"In the past month alone, we've been saving about 35 cents a litre," Dan McTeague, Canadians for Affordable Energy President, told CTV News Toronto in an interview on Friday. "I would say by the second or third week of January, look for prices to move up anywhere from 15 to 20 cents on average."
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