So far, Airdrie has seen a slow decline in fuel prices. Regular sits at around 181.9 and diesel sits at around 177.9.
Patrick De Haan, who is head of Petroleum Analysis at GasBuddy, says prices are going down instead of up because of the price of oil.
“We are seeing broad decreases at gas bars across Canada as the price of oil has plummeted in the last four weeks. Prices have continued to move down, and should continue to move down for another few weeks, barring any unexpected outages or disruptions.”
De Haan says he expects more upcoming gas price changes.
“We could see prices fall another five to 10 cents a litre, maybe more than that, in some areas across Alberta as we see economic concerns cut into the price of oil and supply of gasoline and other fuels has started to increase. In fact, gasoline supplies are up for three out of the last four weeks, helping to pull prices down.”
According to De Haan, the price of diesel has eclipsed gasoline.
“The price drops have been rather significant when it comes to diesel, and that may be temporary. We certainly could see the price of gasoline coming down by more than diesel. In the days ahead.”
De Haan predicts prices will still go down for a bit, but he does mention things can change quickly.
“There's a lot going on globally that could change directions and cause prices to go back up. Things like those unexpected outages. We are in the midst of hurricane season in the US and the US certainly is one of the price setters and Canada being a price taker from the US. If there are any hurricanes that disrupt oil production or refining production in the US, we could see gas prices going right back up. The other concern is the economy, we could see an economic slowdown as inflation has run rampant.”
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