Residents may soon be seeing rather sizeable discrepancies in gas prices around southwest Saskatchewan.
The cost of fuel in Saskatchewan has been slowly declining over the last month, after previously jumping to record prices.
In December, gas prices in the province were sitting at 1.30/L before skyrocketing to 2.03/L in mid-June.
Over the last month, residents have noticed a drop in the cost of fuel in the southwest, a trend that Patrick De Haan, a Petroleum Analysis at GasBuddy, thinks is likely to continue.
“We've seen an incredible decline in the price of oil over the last couple of weeks and as a result, we are seeing gas bars lower prices,” he stated. “So, I certainly do expect further drops in the days and weeks ahead.”
De Haan also explained why residents may see inconsistencies in the rate that fees are declining.
“Some areas are declining faster than others, as gas bars are selling through their more expensive fuel,” he explained. “They are starting to lower prices, but we are seeing a pretty wide discrepancy in how quickly stations or gas bars are lowering prices.”
He concluded that due to external factors, predictions beyond the next three to four weeks are uncertain.
“There's a lot of high-level factors pushing oil up and down,” he elaborated. “Economic concerns, Russia's continued war in Ukraine, just many, many different factors that could change where we go beyond the next two to three weeks. So, it's very difficult to know.”
The average cost of fuel in Saskatchewan is now sitting at 189.1/L, while Swift Current prices stayed steady at 197.9/L over the weekend.