CALGARY - Gasoline prices could be on the way down over the next few months.
That's according to energy expert Roger McKnight, who is forecasting pump prices in the high 80 to low 90-cent-per-litre range throughout July and August.
McKnight, a senior petroleum adviser with En-Pro International, says demand for fuel has languished during the recession and crude oil prices are less than half what they were a year ago.
Prices could spike later on in the summer if a bad hurricane hits the U.S. Gulf Coast, home to numerous refineries that churn out gasoline, diesel and other products.
The average pump price in Canada has been steady at around $1.03 for the past month or so, according to the price-tracking website Gasbuddy.com.
Exactly a year ago, Canadians were on average paying about $1.40 per litre for gasoline.
