Sunday, October 1, 2023

Gasoline will drop 8 cents a liter on Wednesday, expert predicts

Wait a few hours before putting gas in your car, an expert advises. You’ll save a lot if you wait until Wednesday.

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“It’s not a good idea to go to the gas station today. Prices are $1.82 a liter in many places, but tomorrow they will drop to $1.74,” predicts Dan McTeague, a gasoline price analyst who has been interested in the subject since 1994. “And in this type of prediction , I succeed. rate of almost 100%,” he boasts.

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Dan McTeague also predicted a sharp rise in pump prices in the spring of last year, a prediction that turned out to be correct.

Dan McTeague, oil analyst.  COURTESY


Dan McTeague, oil analyst. COURTESY

What is happening is that the oil companies in Canada and the United States are having to make a production change in the gasoline they sell. It is the time of year in which we change different components that are involved in the manufacture of gasoline, explains the also president of the group. Canadians for affordable energy. “For example, we add butane and reduce the amount of alkali used during the summer, when it is hotter.”

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Twice a year

We have been carrying out this type of modifications for about thirty years, twice a year, he explains. This is an obligation for oil companies provided for by law. “Normally it is the second week of September and the second week of April. That is also why prices usually rise in spring, not only because of demand, but also because the ingredients in gasoline change,” he says.

In short, waiting until tomorrow could pay off for motorists. “People are going to get at least two free coffees thanks to Dan McTeague,” the expert says confidently.

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