SHIFTHEADS: Good News at the Pump. Bad News Behind It.

Gas prices Canada-wide are dropping this week, and Dan McTeague, President of Canadians for Affordable Energy, is here with the regional breakdown and the reason not to get too comfortable. The ceasefire sent markets into relief mode, but sentiment and supply are two different things, and the global oil shortage that built up over the past several months is not going to be resolved by a signed memorandum in Switzerland.

McTeague maps the gap between what futures markets are pricing in and what a barrel of oil actually costs on the spot market right now, which is running significantly higher. The lag between those two numbers closes in one direction, and it is not toward consumers. With summer demand, hurricane season, and the federal excise tax restoration all coming in the second half of the year, the window for relief at the pump is narrow and the floor is higher than most people are expecting.

The regional breakdown is here too: prairies dropping twelve cents on gasoline, Vancouver down eight to nine cents, Atlantic Canada and Ontario moving on Wednesday, and Calgary bottoming out around $1.42 a litre.

Topics: gas prices Canada, oil supply shortage, ceasefire oil markets, affordable energy Canada, gas prices drop this week

GUEST: Dan McTeague | affordableenergy.ca

Originally aired on 2026-06-15

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