Southeastern Saskatchewan is currently enjoying the lowest gas prices they've seen in two years.
Saskatchewan's average gas is sitting at $1.329 per litre with Estevan's average five to six cents higher.
Patrick De Haan, the head of petroleum analysis at GasBuddy, said the recent falling gasoline prices can be linked to multiple factors including oil prices declining for seven weeks straight, weaker gas demand, seasonality, and concerns about the economy.
"We do tend to see prices bottom out historically between late November and late December so this would be right on par with what is normal for this time of year," he said.
Prices in Saskatchewan have been on a steady decrease since the middle of August dropping nearly $0.30 per litre and now resting at a mark that hasn't been approached provincially since December of 2021.
"I don't know that it's going to get a whole lot better," he said. "The price of oil has bounced back up in the last few days as various Central Banks have hinted that easing of interest rates could occur next year. That combined with refineries that are cutting refinery runs as product prices have slumped is now causing the wholesale price of gasoline to inch back up. We could be at a short-term bottom here."
De Haan believes with oil prices beginning to rebound, price hikes at the pumps locally could be coming shortly so it would be wise to fill your tank at the current price.
"It could happen even later this week or early next week," he said. "The price of oil and wholesale gasoline are making pretty noticeable jumps here after bottoming out last week. The price of oil is up almost four per cent today and I do expect that could show up relatively quickly."
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