On the eve of the Thanksgiving holiday, gasoline prices hit a 5-month low

As Thanksgiving holiday approaches, the price of gasoline in the Toronto metropolitan area has reached a relatively lower level compared to the past months. This news brings joy as, on Friday, the average price per liter of gasoline in most Toronto gas stations is expected to drop by approximately six cents to 149.9 cents.
The fluctuations in gasoline prices are particularly significant during the Thanksgiving holiday season, as families come together, venture out into the autumnal outdoors, and plan trips to the surrounding areas to enjoy the beauty of the fall season.
In September, the average gasoline price had reached 173.9 cents per liter. This increase in price was due to rising oil prices in previous times. However, just a few days after the latest inflation report by Statistics Canada, which reported an increase in overall expenses, drivers were surprised with an eight-cent discount on gasoline prices, bringing it down to 162.9 cents per liter - the lowest price since July at that time.
Since September, the price of oil has significantly decreased, and gasoline wholesale prices have returned to the lowest level since December 2022.
It can be noted that gasoline prices tend to be higher during the summer due to the use of additives like alkylates, while in the winter, other additives like butane are used, leading to lower gasoline prices.

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