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Gas prices sitting under a dollar, not for much longer: experts

Mar 14, 2017 | 4:24 PM

 

MEDICINE HAT, AB — Gas prices around the city have dropped below $1 since the carbon tax was introduced back on January 1st and experts expects prices could stick around, at least for a few more weeks.

Prices around the Gas City have been hovering between 0.96/litre and 0.98/litre for the past few weeks.

That’s still up roughly 0.10/litre from this time last year, something experts suggest is partially due to Alberta’s newly implemented carbon tax.

Dan McTeague with gasbuddy.com predicts the price at the pumps to drop a few more cents in the next week or two, but said it won’t last long.

“It’s likely to drop just a little bit further before we head towards the magic date of April the 15th,” said McTeague over the phone from Oakville. “That’s when we shift from winter gasoline to the more expensive to make summer gasoline. So for now, the 0.96/litre, 0.98/litre range could move down to 0.92/litre or 0.93/litre in the next seven days.”

McTeague said summer gasoline has different and more expensive components in it, which means drivers end up paying more.