Gas prices expected to drop for holiday long weekend

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If you’re packing up your bags in preparation for a family road trip this Victoria Day long weekend, you may have a pleasant surprise at the pumps.

Gas prices are expected to drop in time for the holiday weekend across most of the country thanks to higher supply and lower demand, according to some gas experts.

Dan McTeague, a senior petroleum analyst for Gasbuddy.com, told CTVNews.ca on Friday morning that individual gas stations may choose to drop their 10 cent operating margins to stay competitive, which would mean drivers could be treated to lower prices at the pumps from Saturday to Monday.

He also advised drivers to wait until Friday evening or the weekend to fill up if they can because that’s when the prices are expected to fall at many gas stations.

McTeague said gas prices should remain stable for the summer months except for an expected short-term jump when OPEC agrees to continue cutting oil production.

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