Gasoline prices fell a few cents in Edmonton on Sunday as experts predict costs will rise later this week.
The average price of gasoline in the greater Edmonton area was $ 1.32. per liter on Sundays, with the provincial average of $ 1.36. per liter, based on data from the Canadian Automobile Association.
While most pumps stayed above $ 1.30, some gas stations had fuel prices in the $ 1.20 range.
Edmonton’s average fuel price hovered around $ 1.38 last month.
Dan McTeague, gas analyst and president of Canadians for Affordable Energy, told CTV News that prices are expected to drop as low as 10 cents this weekend.
Canadians were shocked by record prices at the pump. Since the beginning of October, the average price of gasoline in Canada has fluctuated between $ 1.47 and $ 1.50 per liter, according to data from Natural Resources Canada.
“We haven’t seen such a low price for three months. And I think that’s welcome at the moment, for most people, ”McTeague said.
McTeague says prices could start climbing by Tuesday, following the end of Thanksgiving in the United States and a correction from the drop in the global oil price last week due to fears of the newly identified Omicron variant.
“It was an overreaction. We have experienced this before. The sale, I think, went beyond what would normally be seen in a measured response, ”McTeague said. “The fundamentals remain now and for the future, until someone can demonstrate that the savings literally stop because of this particular variant. “
With files from Tom Yun from CTVNews.ca