Gas prices going down in Red Deer

Crude oil is up $19 or $20 from this time last year

There is an end in sight on the price of gas for Red Deerians.

The Express caught up with Dan McTeague, senior petroleum analyst with Gas Buddy who gave us a load down on those high prices.

McTeague said from time to time gasoline stations are dropping their own retail margin.

“If I’m a gas station owner today in Red Deer it’s probably costing me about $1.21, $1.22 to buy my fuel, all taxes in wholesale. We’re starting to see prices move down much, much closer to that number than say what we saw last week at $131.9.”

He added that much of it is contingent on how quickly the two refineries in Edmonton come back online that have been offline not producing as much gasoline given their scheduled maintenance.

And it’s not just Alberta that had those scorchingly high prices compared to other years. Places in the Lower Mainland looked at $1.619.

“Right now they’re by far the most expensive place to buy fuel in North America of any major city,” said McTeague.

Prices in Alberta have been higher than that of Saskatchewan, where people could get gasoline for between $1.20 and $1.25.

“That is of course with retailers having a bit of a margin,” he said, adding that consumers don’t pay for a 7 cent carbon tax in the Province of Saskatchewan along with in Manitoba until Sept. 1st.

Parts of Ontario sat at $1.37, while Montreal, with the highest taxes of any community in North America, displayed $1.479. The Maritimes pushed into that $1.29 range, with increases expected.

In Alberta, McTeague said people were paying about 19 cents a litre more than they paid at this time last year.

“It really depends on what day of the week you choose to apply that number because it does vary,” he said.

Overall in Canada, McTeague said they’ve seen prices on average move up to the $1.33 range, a cause for concern, he said, for many people.

“Across much of Alberta we’re seeing prices that we haven’t seen in quite some time, average being about $1.31, $1.30, $1.29. That’s still 29 cents higher than last year on average.”

He said there are a few factors to consider as to why those prices are higher.

One is that crude is up.

“Oil is up about $19 or $20 a barrel from this time last year.”

While crude is up – Canadian version of crude – Western Canadian Select hasn’t gone up $20 a barrel, and as a result it’s severely impacting the value of the Canadian dollar.

“That’s important because we price all of our gasoline in US dollars, so if your Canadian dollar starts to lose momentum or the price of fuel starts going up like oil, which is globally traded and globally priced, you start falling back,” said McTeague.

The two refineries in Edmonton, he said, are also a factor. They are currently going through spring time maintenance, pushing up the prices a bit by 3 of 4 cents a litre, which will start to come down.

And lastly, higher taxes is another factor.

Although Alberta’s prices are dropping slowly but surely, McTeague said, “The Lower Mainland is in real trouble and don’t look for any major relief there.”

For up to date gas prices visit

Just Posted

Lacombe Generals clip Eagles’ wings in 6-2 victory

Lacombe looking to continue to roll against Innisfail next week

‘Hey Doreen!’ becomes the latest mural in Lacombe

Digitally created mural features Nanton Street in 1949

Lacombe’s Cow Patti Theatre is back

Dinner theatre returns for 22nd season

WATCH: Robotics Mentor gives prestigious personal award to LCHS

Warren Kreway won the Woody Flowers Award for mentorship last May

Ponoka County fire crews handle second baler fire in 12 hours

Fire crews handled a baler fire just west of Gull Lake

WATCH: Robotics Mentor gives prestigious personal award to LCHS

Warren Kreway won the Woody Flowers Award for mentorship last May

‘Mom, I’m in trouble:’ Canadian faces 10 years for alleged graffiti

Brittney Schneider, another tourist caught spraying message on walls of Tha Pae Gate in Thailand

Feds consulting on national anti-racism strategy behind closed doors

Heritage Minister Pablo Rodriguez says people still face systemic racism in some communities

Pot sales down by nearly 70% on Day 2 of legalization in B.C.

Several products on BC Cannabis Store are still sold out

Colourfully named cannabis products appeal to youth, Tory health critic says

Conservative health critic Marilyn Gladu says the Liberal government needs to do more to ensure cannabis products available online are not enticing to young people

B.C. high school teacher faces sexual assault charges

A Mt. Boucherie teacher has been charged with child luring, sexual exploitation and sexual assault.

Fashion Fridays: You can never have enough shoes

Kim XO, lets you know the best online shopping tips during Fashion Fridays on the Black Press Media Network

Migrants, police mass in town on Guatemala-Mexico border

Many of the more than 2,000 Hondurans in a migrant caravan trying to wend its way to the United States left spontaneously with little more than the clothes on their backs and what they could quickly throw into backpacks.

Trump: ‘Severe’ consequences if Saudis murdered Khashoggi

Pro-government newspaper Yeni Safak on Wednesday said it had obtained audio recordings of the alleged killing of Saudi writer Jamal Khashoggi inside the Saudi Arabia’s consulate in Istanbul on Oct. 2.

Most Read