LETHBRIDGE- Gas prices remain below a dollar a litre around Lethbridge, and they continue to drop.
Local businesses like Heritage Fine Dry Cleaning love the financial break. Arlett Avila-Caranza, who owns the business, says her drivers have been taking advantage of the lower prices.
“On Friday we went and filled up our tanks, so it’s good,” said Avila-Caranza.
With pickup and delivery offered free of charge, and two vehicles are constantly on the go, so even a few cents less at the pump adds up.
“I usually spend $60 dollars on each vehicle, so every time we fill it’s like $20 dollars saved,” she adds.
MORE: The winners and losers from plunging oil prices
Shopping around can also help drivers save even more at the pumps. Regular gas starts around 99 cents, but with a membership to Costco you could find it as cheap as 91.9 cents a litre.
According to albertagasprices.com these are some of the other lower posted prices in Lethbridge:
- 94.9 cents, Gas Plus Jerry Potts Blvd W
- 95.9 cents, Esso University Drive
- 96.4 cents, Superstore
In Edmonton the average price is 92.5, with deals as low as 88 cents a litre.
But, lower oil prices mean less revenue for major oil producers, which in turn could hurt Canada’s economy say economists.
“We went from as recently as the 70’s from being an oil importer to being a very significant oil exporter now. So, oil is far and away the most important commodity to the Canadian economy,” says Doug Porter, the Chief Economist with BMO Capital Markets.
MORE: Gas plummets toward $1 a litre — or lower — across Canada
Alberta is rich with oil, but compared to other areas it’s pretty pricey to extract.
Cheap oil lowers profits and tax revenues, and could shelve new, higher-cost oil sands projects, says Porter.
But for now, businesses like Heritage Fine Dry Cleaning say it will enjoy the low prices while it lasts.
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