City pumps not seeing expected drop in gas prices

An expected drop in Canadian gas prices has barely - if at all — hit Lethbridge.

According to a report from The Canadian Press, fears about the new Omicron strain of COVID-19 were expected to drop prices by 11 cents a litre.

“(Sunday) represents the single largest decrease at the pumps we’ve seen going back to 2009,” Dan McTeague, president of Canadians for Affordable Energy, told CP in an interview.

“Global crude oil prices plunged Friday over fears about a new COVID-19 variant called Omicron that prompted Canada to ban entry for foreign nationals who travelled through southern Africa,” said a CP story early Monday.

“The January crude oil contract fell 13.1 per cent or US$10.24 on Friday and currently stands at US$68.15 per barrel,” said CP.

“Sunday and Monday are going to be the best days for Canadians to fill up, including British Columbia,” McTeague told CP.

In Lethbridge by mid-day Monday according to gasbuddy.com, the cheapest regular grade gasoline was available at Costco where it was being sold to members for 124.9 cents a litre, while other city stations ranged from140.9 cents to149.9 cents a litre.

In Claresholm regular was selling for 137.9 to 139.9.

In Taber stations were selling regular for 142.9 to 145.9.

In Medicine Hat, Costco was selling regular for 124.9 while other stations had it listed at 139.9.

Calgary’s prices ranged between 131.9 to 137.4 and Edmonton ranged between 119.9 to 129.9.

In B.C., gasbuddy.com listed the most inexpensive regular as 135.9 at a Gulf station in Oliver.

In Cranbrook, prices ranged between 148.9 and 149.9.

The lowest price in Saskatchewan was at Regina Cabs in Regina where regular was selling for 118.9.

Just across the Alberta border in Maple Creek, regular was available for 143.9.

If it’s any consolation to Lethbridge drivers, if oil prices recover early this week, then prices could rise again by Wednesday or Thursday. But some savings are expected to last a couple of weeks, according to the CP report.