The electrification of transport is not associated with a significant drop in oil prices in the long term, warns an expert from the Trottier Energy Institute at Polytechnique.
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Drivers will also have to expect fluctuations in the price of gasoline in 2024.
The oil production of OPEC+ countries is in addition to that of Canada and the United States, where we are seeing an increase in output.
“I assume that prices will remain relatively stable next year, meaning fluctuations of 15 or 20 cents per liter at the pump,” emphasizes Normand Mousseau.
In an interview on LCN, the expert points out that the only way to significantly reduce your gas bill is to use less.
“The simple solution to paying less is to buy a car that consumes less and decide where to live or where to work,” he explains, adding that the population faces difficult decisions.
TVA News
As Quebecers increasingly get their hands on electric cars, should we expect prices to fall in the coming years due to lower demand? Mr Mousseau assures that motorists should not dream of a price below 1 dollar per liter…
“The price of gasoline depends on production and demand. When prices fall, there are a certain number of producers […] which will disappear from the market, which will lead to rising prices,” he continues.
“We will continue to see gasoline prices fluctuate for quite some time. We dream that prices will fall.”
Normand Mousseau adds that carbon pricing will help maintain high gasoline prices.
*Watch the interview in the video above*