Gas prices drop at most pumps in Edmonton
Gas prices shed a few cents across Edmonton on Sunday as experts forecast costs to creep upward later this week.
The average price of gas in the greater Edmonton area was $1.32. per litre on Sunday, with the provincial average sitting at $1.36. per litre, according to data from the Canadian Automobile Association.
While most pumps remained above $1.30, some gas stations had fuel prices in the low $1.20s.
Last month, the average fuel price in Edmonton hovered around $1.38.
Dan McTeague, gas analyst and president of Canadians for Affordable Energy, told CTV News that prices were expected to drop by as much as 10 cents this weekend.
Canadians have been reeling from record-breaking prices at the pumps. Since early October, the average gas price in Canada has hovered between $1.47 and $1.50 per litre, according to data from Natural Resources Canada.
"We haven't seen prices this low in three months. And I think it's very welcome for now, for most people," McTeague said.
McTeague says the prices could begin to creep upwards by Tuesday, following the end of U.S. Thanksgiving and a correction from the global price of oil tumble last week over fears of the newly identified Omicron variant.
"It was an overreaction. We've been through this before. The selloff, I think, went beyond what would normally be considered in a measured response," McTeague said. "The fundamentals remain now, and for the future, until someone can demonstrate the economies are literally shutting down because of this particular variant."
With files from CTVNews.ca's Tom Yun
CTVNews.ca Top Stories
Canadian gov't proposes new foreign influence registry as part of wide-spanning new bill
Prime Minister Justin Trudeau's government is proposing a suite of new measures and law changes aimed at countering foreign interference in Canada, amid extensive scrutiny over past meddling attempts and an ever-evolving threat landscape.
Boeing Starliner capsule's first crewed test flight postponed
The long-awaited first crewed test flight of Boeing's new Starliner space capsule was called off for at least 24 hours over a technical issue that launch teams were unable to resolve in time for the planned Monday night lift-off.
Teacher charged in historical sexual assault of Calgary teenage girl
Calgary police have charged a teacher with the alleged sexual assault of a teenage girl more than 20 years ago.
Winnipeg man admits to killing four women, argues he's not criminally responsible
Defence lawyers of Jeremy Skibicki have admitted in court the accused killed four Indigenous women, but argues he is not criminally responsible for the deaths by way of mental disorder – this latest development has triggered a judge-alone trial rather than a jury trial.
Man banned from owning animals after fatal Calgary dog attack
The owner of three Calgary dogs that got loose and mauled a woman to death in 2022 has been ordered to pay a $15,000 fine within one year and banned from owning any animal for 15 years.
East-end Ottawa family dealing with massive rat infestation
Residents in Ottawa’s Elmridge Gardens complex are dealing with a rat infestation that just won’t go away. Now, after doing everything they can to try to fix the issue, they are pleading with the city to step in and help.
Mediterranean staple may lower your risk of death from dementia, study finds
A daily spoonful of olive oil could lower your risk of dying from dementia, according to a new study by Harvard scientists.
An El Nino-less summer is coming. Here's what that could mean for Canada
As Canadians brace themselves for summer temperatures, forecasters say a weakening El Nino cycle doesn’t mean relief from the heat.
Newfoundland and Labrador latest province to tighten rules on Airbnbs
Newfoundland and Labrador is the latest jurisdiction to bring in stricter rules for short-term rentals, with a coming set of regulations that will force operators to register with the provincial government.