Free-flowing refineries are prompting a “bloodbath” for retail gasoline prices in Edmonton, one analyst says.
BY THE NUMBERS
– Lowest price of gasoline in Edmonton: 57.9 cents
– Average price of gasoline in Edmonton: 61.4 cents
– Average cost of gasoline in Alberta: 67.8 cents
– Average price of gasoline in British Columbia: 95.3 cents
– Average national price: 85.0 cents
– Highest price of gasoline in Canada: 122.7 cents, Fort Smith Region County, N. W. T
(by Tuesday, Feb. 9, 2016 in cents per litre)
With Edmonton gas prices averaging 61 cents per litre Tuesday, GasBuddy.com petroleum analyst Dan McTeague said prices haven’t been this low in the town since Dec. 2003 and therefore are prone to sink much lower. Some stations were at 59.9 cents per litre.
McTeague said prices in Alberta are expected to fall four to six cents by Friday to sit down around 56 cents per litre over the weekend.
“If you think these are good prices, just wait. The roller-coaster hasn’t hit the bottom yet,” he explained within an interview from Toronto.
“If I’m taking a look at Edmonton, these are the best money saving deals in the country, bar none.”