Gas prices in Canada see one of the biggest drops ever. Whats going on? – National [Video]

Many Canadians have likely noticed that the cost to fill up their vehicles has come down over recent weeks.

At the same time, Reuters reported that CEOs of Canadian oil and gas producers said on Tuesday they are seeking to avoid making abrupt decisions as global oil prices hover around four-year lows and recession fears grow.

There are a few possible reasons for these price declines, some specifically for Canadians, along with factors affecting drivers and consumers globally.

The federal Liberals did away with the consumer carbon price shortly before calling the federal election while keeping the industrial carbon price for large emitters in place.

April 1 was the day the consumer carbon price ended. So far this month, there’s been a drop of roughly 15 to 20 cents per litre at most gas stations across the country.

“It’s one of the biggest (gas price) decreases we’ve ever seen across Canada. That goes to show how much the carbon tax has …