Calgarians see drop in gas prices at the pumps
This Sunday could be a great day for Calgary drivers to fill up their tanks as gas prices in the city are down about six cents per litre.
It’s the first time fuel prices have been below the $1.40 mark in some time.
Some stations are offering regular unleaded for $1.38 per litre as compared to the $1.44 prices seen just a day earlier.
Gas analyst Dan McTeague, who is the president of Affordable Energy, said on Friday that prices at the pump could drop up to 10 cents in Alberta.
“That’s almost historical for a one-day drop,” he said.
“I don’t think I’ve seen that since 2009. We haven’t seen prices this low in three months and I think it’s very welcome for most people.”
McTeague says the best time to fill up will be between Sunday and Tuesday, but gas prices could still come back up as Organization of Petroleum Exporting (OPEC) could delay its plans to increase oil production.
According to McTeague, many of the “more serious and experienced” energy market traders may have also been away this week due to U.S. Thanksgiving, and that the market could correct its “overreaction” once these traders return to work next week.
“I think cooler heads will prevail come Monday, which will mean possible price increases by Wednesday,” McTeague said.
(With files from CTVNews.ca)
CTVNews.ca Top Stories
From outer space? Sask. farmers baffled after discovering strange wreckage in field
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
Broadcaster and commentator Rex Murphy dead at 77: National Post
The National Post is reporting that Rex Murphy, the pundit and columnist who hosted a national call-in radio show for decades, has died.
Pearson gold heist suspect arrested after flying into Toronto from India
Another suspect is in custody in connection with the gold heist at Toronto Pearson International Airport last year, police say.
Millions of cyberattacks per hour as B.C. government investigates multiple breaches
Careful attention to government statements and legislation is required to get a handle on the level of risk British Columbians’ information is under, as investigators probe multiple breaches under a continued barrage of attacks.
Ontario family receives massive hospital bill as part of LTC law, refuses to pay
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
Debate on abortion rights erupts on Parliament Hill, Poilievre vows he won't legislate
A Conservative government led by Pierre Poilievre would not legislate on, nor use the notwithstanding clause, on abortion, his office says, as anti-abortion protesters gather on Parliament Hill.
Justin and Hailey Bieber are expecting their first child together
Hailey and Justin Bieber are going to be parents. The couple announced the news on Thursday on Instagram, both sharing a video that showcases Hailey Bieber's growing belly.
Here are the ultraprocessed foods you most need to avoid, according to a 30-year study
Studies have shown that ultraprocessed foods can have a detrimental impact on health. But 30 years of research show they don’t all have the same impact.
New 'Lord of the Rings' film coming in 2026
The Oscar-winning team behind the nearly US$6 billion blockbuster 'Lord of the Rings' and 'The Hobbit' trilogies is reuniting to produce two new films.