Enjoy price relief at Alberta gas pumps while it lasts, analysts say
"As oil prices fall, gasoline prices typically fall within one to two weeks thereafter, and that's why we're seeing relief at the pumps," said Jeremy McCrea, managing director of energy research at Raymond James.
"The financial markets are pushing down the price of oil while the supply side and the physical market is pushing it up, and this is why we're seeing the volatility," he said.Extreme weather events like hurricanes and positive economic data out of the United States could also slow the recent price decline.
"Beyond a week or two, it gets a little bit murky because of the amount of economic data coming out of the U.S., which is a catalyst for prices in Canada," said De Haan. Diesel prices in Alberta are higher than gasoline, averaging around $1.82 per litre, which De Haan says is around 10 cents higher than gasoline. He notes that in the United States, diesel prices are now more than a dollar higher than gasoline.
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