Here's why gas prices might drop in Sask. this week

Canadians for Affordable Energy (CAF) President Dan McTeague believes gas prices might see a slight decline to start the month of June.

Canadians for Affordable Energy (CAF) President Dan McTeague believes gas prices might see a slight decline to start the month of June.

“Oil prices are dropping,” he told CTV News Monday. “The pressure on gas stations to drop fuel will happen Wednesday.”

At the start of May, gas was about 60c/L on the market.

The price dropped down to just 51c/L after the OPEC+ alliance extended crude oil output cuts through to 2025.

McTeague says gas stations in Regina are earning 20c/L while Saskatoon stations are seeing 17c/L on their fuel.

“The norm is 10 [cents per litre],” he added. “I would suspect we’re in for a pretty significant windfall and it is likely to be accelerated.”

According to McTeague, who is also the founder of GasWizard.ca, wholesale prices for fuel has dropped about 3.5c/L.