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Home World Business

Canadian consumers to save $12b at pumps due to low oil rates

byMonitoring Report
02/01/2015
in World Business
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OTTAWA: Canadian consumers spent record amount for gasoline in 2014, despite the slumping prices in the latter part of the year.

They can expect a major break in 2015, thanks to lower crude costs which at current levels would deliver an estimated $12 billion in annual savings to motorists.

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Further drivers paid an average across Canada of $1.28.1 for unleaded gasoline last year the fourth consecutive annual record high, according to a survey released this week by Kent Group Limited.

The higher prices came as demand for fuel edged slightly higher, though final figures are not yet available.

Tags: $12bn20142015CanadianKent Group LimitedOTTAWA

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