Drivers in Portage la Prairie are seeing lower fuel prices at the pump this week, following a brief spike just days ago.
Prices rose to around 134 cents per litre last week, with most stations now at 129.9 ahead of Canada Day.
Patrick De Haan, head of petroleum analysis with GasBuddy, ties the change to shifting conditions overseas.
“You saw gas prices jumping within the last week, but then they went right back down,” De Haan says. “A lot of this happening because of tensions in the Middle East, which caused oil prices to jump by over $10 a barrel. But in the last week after a ceasefire was announced, oil prices have plunged about $10 a barrel since where they were a week ago.”
He adds that most provinces are seeing a similar drop.
“The Manitoba provincial average dropped a couple of cents per liter in the last week, down to 131.1 today,” De Haan continues. “That's also about six cents a liter lower than last year.”
Manitoba among lowest in the country
Compared to other provinces, Manitoba drivers are getting a good deal at the pumps.
“Manitoba's average of 131.1 today is actually one of the cheapest provinces in Canada,” De Haan remarks. “Just behind Ontario and Alberta... Alberta about 128.3, Ontario 128.9. Manitoba is the third cheapest province in Canada and that's the good news.”
He mentions the province should remain near the low end for fuel prices in the weeks ahead.
What’s next for prices?
As for where prices go from here, De Haan says oil market trends will be key.
“Well, at least for now, with oil prices having fallen, we could continue to see gas prices under a bit of downward pressure,” he notes. “By the end of the week, we may kind of have seen prices stabilize.”
He points to U.S.–Canada trade developments as something to watch.
“Depending on what happens next in the Middle East, or with trade development, President Trump talking to Canada over the weekend, or at least ending talks with Canada due to the digital services tax that's now been paused,” De Haan adds. “We'll have to see the outcome of trade talks with Canada, obviously the US and Canada major trade partners. So if talks end or if they resume, that could really make or break where markets head.”
Diesel prices holding steady
De Haan also comments on diesel, where changes are more modest.
“Looking at the average price for diesel right now, Manitoba, the third cheapest province, 142.8 for a liter of diesel,” he mentions. “That compares to about 143 a week ago.”
He says diesel prices have been slower to fall, but that could change soon.
“The good news is I do expect more decrease to come to diesel in the week ahead as the drop in diesel prices gets past to the pump,” De Haan remarks.
With both gasoline and diesel prices showing signs of easing, drivers across Manitoba could see some savings as summer kicks off.
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