Dan McTeague suggests wide range of gas pump prices reflect panicked market
A gas price analyst is attempting to explain the wide variety of gas station prices in Niagara, which can be as low as $1.50, reaching to over $1.70.
Canadians for Affordable Energy President Dan McTeague warned about a month ago prices would top $1.80, but then fell to a variety not seen before.
He tells us the market is in panic mode, with lots of supply, but low demand, as well as interest rates being a concern dragging on the economy.
"The consumer is now maxed out... high taxes, higher cost of just about everything, the inflationary effect of carbon taxes. With that, I think, is a growing reality the economy has slowed down."
He adds the weak Canadian dollar continues to hinder, as well as government policy.
"Canada's energy policies, very much decidely against the building of pipelines, and going after the very thing the world wants, which is our natural gas and oil. It really now is starting to bite consumers in ways that most are finding most unpleasant."
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