Even though gas prices have been rising around the city, there is a reason to believe they will drop again as the holidays get closer.

According to Dan McTeague of GasBuddy.com, prices have gone up this week as retailers have taken back some of the margins they had. 

"That's likely to drop again [and] we could be back to 96, 97, 98 [cents] by the end of the week," McTeague explained as retailers go towards a five cent profit on gas.

We can expect the price to rise and drop by up to two cents a litre as we head towards December 25. McTeague doesn't expect much change because many of the people who would make these changes are starting to go on vacation and will only be back in January.

As of January 1st, however, drivers will be paying a permanent 2.5 cents per litre more because of the new federal carbon tax law that will come into effect.