Canada Gas Price Lows Could Lead To $12 Billion In Savings: Report.
Slumping oil prices could save Canadians as much as $12 billion at the gas pumps this year.
But the lower cost is also very bad news for federal and provincial governments, which may have to cut spending in response to falling oil prices.
The Globe and Mail cited a report Friday by the London, Ont.-based Kent Group saying that Canadians could be on track to save $12 billion on gasoline if crude costs stay at their current levels.
The report noted that Canadians paid an average of about $1.28 per litre for unleaded gasoline in 2013, with prices dropping to 98.1 cents per litre at the end of this year.
If the latter price holds up, Canadian households could save about $25 per week, or even $1,200 per year, said CTV News.
