Gas prices drop across Montreal overnight
Prices fell by up to nine cents per litre as geopolitical tensions ease and traders grow more optimistic about Middle East stability.
Drivers across the Montreal area woke up to lower prices at the pumps Thursday, with gasoline dropping by as much as nine cents per litre overnight.
The decline followed growing optimism among energy traders that a broader conflict in the Middle East could be avoided and that the Strait of Hormuz — one of the world's most critical oil shipping routes — will remain open to global crude supplies. When traders believe oil will flow smoothly, prices at the pump fall.
On Thursday, regular gasoline prices had dropped across the region. The timing is a small break for drivers already dealing with the cost of summer driving season, though energy markets remain volatile and prices can shift quickly.