Gas prices to drop 11 cents on Sunday
Gas prices, which have soared to historic highs in recent weeks, will drop 11 cents on Sunday, according to Chief Petroleum Analyst with En-Pro International, Roger McKnight.
The change will drop the price of gas to 1.349 cents/litre.
The change is expected to hold for Monday and Tuesday, more changes, if any, will come on Dec. 1.
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The predicted plunge at the pumps comes after oil prices dropped more than 13 per cent on Friday amid renewed fears of potential lockdowns and other restrictions following news of a new, highly transmissible COVID-19 variant detected in South Africa.
Despite the upcoming decrease, national gasoline prices have surged nearly 43 per cent in the past year as the reopening of the global economy from pandemic lockdowns prompted a recovery in crude prices.
The January crude oil contract fell 13.1 per cent or US$10.24 on Friday and stands at US$68.15 per barrel.
The Canadian Automobile Association says that as of early Saturday morning, Manitoba had the lowest average pump price of $1.35/L, followed closely by Alberta at $1.377, while Newfoundland and Labrador was the highest at $1.583 with British Columbia at $1.558.
With files from Michael Ranger and The Canadian Press
