Aaron Ruston of Purposed Financial

While most of us enjoy the lower prices at the gas pumps, investors and those who make their living in the oil industry have been worried.

Crude oil hit its lowest level in 5 years in Tuesday trading but buyers stepped in and not only boosted the commodity back into positive territory for the day, but lifted the overall equity markets as well.

Aaron Ruston at Purposed Financial Group here in Moose Jaw has been watching closely, and he doesn't think it's anything to worry about.

"Really the markets run in a cyclical, seasonal way," says Ruston.  "So if you look over the winter gas prices tend to drop and natural gas prices tend to rise.  Just because the use is greater there and it's supply and demand.  We just happen to have an extemely large supply on a global basis now.  I hope the everday driver is enjoying it (lower gas prices), it's great."

At $53.60 a barrel in Tuesday morning trading — oil was at its lowest level since May of 2009.

The price of oil IS concerning the provincial government.  The plunging price of oil is affecting government revenues.  So much so that Premier Wall has instituted a hiring freeze for all non-essential positions within the province. 

A memo has also been issued to all ministries, telling them to halt unnecessary travel and to exercise fiscal restraint. 

Wall says there will be tough decisions to make as the budget for next year is drafted.  The opposition NDP say the hiring freeze is proof the government didn't fulfull a promise to cut the size of the civil service.