You might have noticed prices going down a bit at the pumps this week. 

Most places in Moose Jaw are reporting gas at 155.9 cents per litre, whereas the price at most stations last week was 3 cents more expensive, hovering around 158.9 cents per litre. 

Provincially, average prices are down 0.6 cents per litre compared to last week’s average of 154.5 cents per litre, now sitting at 153.9 cents per litre.  

So far for the province, the average price is down 0.9 per cent compared to last month.  

GasBuddy Petroleum Analyst, Patrick DeHaan, said the drop was expected. “This is something that we normally see happen during the early parts of summer once refinery maintenance is over. The switch to summer gasoline is behind us [and the] supply of gas is starting to go up.” 

He added that the price of oil plummeted following a meeting of OPEC over the weekend, during which they revealed that production will be restored starting next year.  

“Although they extended their production cuts going into 2024 and 2025, they also provided a timeline for restoring output.” 

Oil now sits at approximately $73 per barrel.  

DeHaan said gas prices could drop by another 5 to 10 cents per litre by Canada Day.  

“I think prices should probably hold in the mid dollar-a-litre range here for the majority of the remainder of summer,” he added. 

He clarified that prices could be impacted in July and August due to a projected busy hurricane season, which could result in disruptions at Golf Coast refineries.  

“That’s something that remains a bit of wildcard.”