Vijay Muralidharan

The final long weekend of summer will also be the cheapest for Canadian drivers, with gasoline prices heading into the Labour Day holiday the lowest they’ve been since late February.

The reason that pump prices in this country aren’t yet reflecting a reduction in demand, Muralidharan said, is that U.S. driver demand is still so high. Because North American fuel refiners have the option to sell into either the Canadian or U.S. markets, as long as demand remains high south of the border, fuel prices in this country will remain elevated.