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
Police arrest 3 Indian nationals in killing of B.C. Sikh activist Hardeep Singh Nijjar
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Quebec man who threatened Trudeau, Legault online sentenced to 20 months in jail
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
TD worst-case scenario more likely after drug money laundering allegations: analyst
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
Canadian doctor concerned new weight-loss drug Wegovy may be used inappropriately
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
Biscuits with possible plastic pieces, metal found in ground pork: Here are the recalls for this week
Here are the latest recalls Canadians should watch out for, according to Health Canada and the Canadian Food Inspection Agency.
Britney Spears 'home and safe' after paramedics responded to an incident at the Chateau Marmont, source tells CNN
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
Local MP, MLA call on federal government to remove sunken vessel in Saint John River
An MP and an MLA are calling for the removal of a sunken vessel in the Saint John River.
Human remains found in rural Sask. possibly a decade old, RCMP say
RCMP say human remains found in a rural area in central Saskatchewan may have been there for a decade or more.