Drivers in Alberta are paying less now for gasoline than they did one month ago. (Photo: Korzeniewski | Dreamstime.com)

By David Opinko / with files from Canadian Press

Gas prices down in Alberta as crude oil slumps

Sep 6, 2024 | 12:47 PM

Albertan drivers are enjoying cheaper gas prices heading into fall.

The average gasoline price in Alberta was 143.6 cents per litre on Friday, according to price tracking website GasBuddy.com.

That’s down 15.6 cents from the same time August.

It was a similar picture for several of Alberta’s mid-sized cities, including Lethbridge, where gas averaged 149.9 c/L, falling by 10 cents from last week and 15 cents over the last month.

Medicine Hat was slightly cheaper at 147.9 c/L, but the decreases were a bit less. Drivers saved eight cents per litre compared to one week ago and nine cents from August.

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Drivers in Red Deer are now paying 12 c/L less than they did one month ago.

It was a different situation in Grande Prairie, however, as fuel prices have seen no fluctuation in prices over the last month, but gas is now 20 c/L more expensive than in the same time last year.

Gasoline prices rise and fall with the global price of crude oil, which has fallen more than US$7 per barrel this week.

That’s the biggest weekly slump in crude prices since October of last year.

Energy analyst Rory Johnston says markets are jittery about the outlook for the global economy and declining demand for oil.

You can check the gas prices in your community by visiting GasBuddy.com