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Saskatchewan has lowest gas prices in country: analyst

May 18, 2018 | 5:00 PM

Saskatchewan families may have to look a bit harder for good deals on gas as they head out on the highways this weekend.

According to the price-tracking app GasBuddy, the average price of gas in the province is $1.26/litre. The lowest advertised price in the province, as of noon Friday, was $1.16/litre at Regina’s Costco location and the highest was $1.31/litre in Meadow Lake. According to Senior Petroleum Analyst Dan McTeague, drivers in the Prince Albert area are getting a really good deal at $122.9/litre.

“It’s costing gas stations about a $1.19 [per litre] to buy their fuel, so you are looking at what I consider to be extremely skinny margins for retailers,” he said.

McTeague said Saskatchewan as a whole has the lowest gas prices in the country. He encouraged people to take advantage of the prices, saying it’s quite possible for prices across the province to jump closer to the $1.30 mark before the end of the day Friday.

“Those are prices we haven’t paid since August, 2015,” he said.

Looking past the long weekend, McTeague said prices could continue to rise, depending on two factors. Those are the strength of the Canadian dollar and a rise in the Chicago spot market for gasoline, which McTeague said typically sets the pace for gas prices in western Canada.

“I am waiting for more positive news; one of the three refineries in Edmonton to come back online. They’ve been down about four weeks and that’s caused about a four cent a litre premium,” McTeague said. “I’m starting to see that come down a bit.”

Here’s a breakdown of gas prices across the province, according to GasBuddy (prices per litre):

Prince Alert – $1.22

Melfort – $1.21

Nipawin – $1.28

Candle Lake – $1.28

Saskatoon – $1.24

Hague – $1.25

North Battleford – $1.26

Blaine Lake – $1.25

Rosthern – $1.24

Humboldt – $1.19

Regina – $1.25

La Ronge – $1.28

 

nigel.maxwell@jpbg.ca

On Twitter: @nigelmaxwell