Gas expected to rise 7 cents by the summer, plateau around 70 cents: experts

Click to play video: 'Gas expected to rise 7 cents by the summer, plateau around 70 cents: experts'
Gas expected to rise 7 cents by the summer, plateau around 70 cents: experts
WATCH: Gas prices have dropped nearly 50 cents in Saskatchewan and experts say it isn't going to rise all that much in the coming months – Mar 29, 2020

The price of gasoline has plummeted in Saskatoon and across the country.

In Saskatchewan, it isn’t expected to get back over a dollar any time soon

“The average price of gas has fallen roughly 45 cents in the last month across the province due to a number of factors,” says Dan McTeague, president of Canadians for Affordable Energy.

“(If) Russia, Saudi Arabia and the United States can’t get their act together on overproduction of oil, at a time when the price has dropped and if the coronavirus continues to affect more and more countries and consumers globally we could see a further collapse.”

READ MORE: Trudeau refuses to say if planned carbon tax increase still a go amid coronavirus

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Some Saskatoon residents see the drop in price as a silver lining during this time.

“We’ve been going out and have been doing some Sunday driving,” said resident Kevin Kaminski. “So it’s been fun to go out and cruise around Saskatoon and enjoy each other’s company.”

Others wouldn’t be upset if the price stayed like this for the foreseeable future.

“It hasn’t been this low, I can’t even remember the last time, to be honest,” said resident Alana Roth. “I think it would be great if it stayed. I would be happy for sure.”

READ MORE: Alberta Energy Regulator names senior Saskatchewan government official as CEO

McTeague says the prices at the pump in Saskatchewan are the second-lowest in the country.

“The cheapest prices you are going to find in the country you’ll find in Edmonton. It’s always much cheaper than pretty much everywhere else,” McTeague explained. “Gas can be had there for as little as 58 cents per litre.”

McTeague expects Saskatchewan prices to increase by roughly seven cents due to summer fuel expenses and a carbon tax.

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