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Another drop in gas prices expected overnight

By 3 cents per litre
pumping gas
Stock image

Looks like we will get another break at the gas pumps this week.

The price of gasoline is expected to drop by three cents per litre overnight.

That will put the average price at most local stations at close to $1.64 per litre.

Statistics Canada also reported July's inflation rate on Tuesday, which slowed to 7.6 per cent, with the deceleration largely driven by a decline in gas prices.

It marks the first decline in year-over-year inflation since June 2020.

The federal agency said gas prices rose 35.6 per cent year-over-year in July, compared with 54.6 per cent in June.

Even with the decline in gas prices, food prices at grocery stores were up close to 10 per cent, year-over-year. 

-- With files from The Canadian Press