Local gas prices much higher than they were when oil was this low

If local motorists feel like they’re getting nickel and dimed by big oil, it’s actually more like 2 dimes.

The price of oil tanked again on Monday, losing another dollar in trading in New York to close at $30.45 U-S a barrel.

That’s a 12 year low.

Meantime, the price of gas locally is hovering around 97 cents a litre for regular.

12 years ago when the price of oil was this low, the price of gas locally was about 22 cents cheaper than it is today.

Drivers were paying about 75 cents a litre in mid-January 2004.