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Thursday, May 12, 2011

Rise In Gas Prices Stemmed

Some good news for those drivers who use self serve regular......The price has gone down after the weekly setting by almost three and a half cents a litre.

Self serve is selling around town for $1.29.9 while diesel is slightly higher than it has been the past few days at $1.26.6.

Propane has gone up almost three cents and is listed at $1.14.2 a litre. Heating oil is also higher at $1.11.3.

Federal Industry Minister Tony Clement will hold a news conference in Toronto today to discuss the fluctuating cost of gasoline.

He will comment as motorists welcome a downswing in pump prices after prices rose 6.5 cents a litre on Tuesday in much of Ontario, Montreal and Vancouver, then by another 2.5 cents per litre on Wednesday.

Today's decrease comes after gasoline futures and oil prices tumbled on Wall Street Wednesday to drag down the price of oil below US$100 a barrel.