Gas prices around Portage la Prairie remain steady, with most stations sitting around 128.9 or 129.9 cents per litre.
That trend is likely to continue through the summer, according to Patrick De Haan, head of petroleum analysis at GasBuddy.com.
“Certainly there’s a lot of headlines right now that are potentially making waves with oil prices,” says De Haan. “Oil prices are close to the higher side they’ve been in the last couple of months now at about $65 a barrel.”
De Haan notes that while global factors like U.S.-China trade relations and OPEC production levels could cause minor fluctuations, big price jumps are unlikely.
“I don’t really think though at this point there’s going to be a major shift in gas prices over the course of the summer,” he explained.
Prices lower than last year
Compared to previous years, gas prices are sitting on the lower end of the scale.
“In fact, for most of Canada, we’re seeing some of the lowest summer gas prices since 2021,” adds De Haan.
He remarks that in Manitoba, even without the gas tax holiday seen last year, average prices are down eight cents per litre from the same time in 2024. He attributes much of that to the federal government’s pause on the carbon tax.
“The average now coast to coast about 135 [cents per litre]. Manitoba a little bit lower, but much of Canada is seeing vastly lower prices.”
Diesel prices also dropping
De Haan also points out that diesel prices are trending lower as well, now sitting at around 131.6 cents per litre across Manitoba.
“Diesel prices have been moderating. That is generally a trend that we do see,” he continues. “Looking at this data here, the average diesel price in Manitoba 131.6 is close to actually the lowest level now since late 2021.”
He says reduced demand for heating oil and agriculture fuel is helping to push diesel prices down during the warmer months.
Some uncertainty remains
While prices are expected to stay within a 125 to 135 cent range for much of Manitoba, De Haan mentions there are still some global issues that could affect the market.
“Russia’s war in Ukraine does continue. There’s a potential there for a breakthrough though. We’re also watching a potential nuclear deal between the U.S. and Iran that could allow more oil to flow to the market as well.”
Still, De Haan expects only modest shifts unless major developments unfold.
Sign up to get the latest local news headlines delivered directly to your inbox every afternoon.
Send your news tips, story ideas, pictures, and videos to news@portageonline.com.
PortageOnline encourages you to get your news directly from your trusted source by bookmarking this page and downloading the PortageOnline app.