Gas prices within Moose Jaw have been steadily declining in the week, as at least one station lowered its price all the way down to 155.9 cents per litre – a price that hasn’t been seen since early in the year.  

As of Monday, the remaining stations in Moose Jaw according to GasBuddy are recording prices between 159.9 to 179.9.  

Since August 1, the price of gas has gone down by roughly 17 cents from its average price of 169.9 cents per litre.  

From July 6, until Monday the price of gas has fallen by 54 cents from its peak of 206.9, which broke a record for the highest price per litre ever seen in Moose Jaw dating back to 2008. 

GasBuddy Petroleum Analyst, Patrick DeHaan says there have been a number of factors that have contributed to oil prices plummeting in recent weeks. 

“It’s because of economic concerns. The U.S. now has seen two back-to-back quarters of negative GDP, so they are raising risks that major economies in Europe, China, and the U.S. could be slipping into a slowdown or recession, which will generally curb the use of oil. The imbalances brought on by COVID-19 have lingered into this year. Then they were exasperated by Russia’s war on Ukraine. I’ve never seen this amount of volatility in my career doing this, it’s just been off the charts.” 

In Moose Jaw on Monday the average price of gas went down to 162.9, with the provincial average four cents lower than 158.9.  

In the coming weeks, DeHaan is hopeful that motorists will continue to get relief at the pumps as he is forecasting prices to continue to go down. 

“I’m hopeful that if we can avoid disruptions and things like hurricanes it’s not impossible we could see another drop like that in the next couple of weeks.” 

Prices have dropped across the country with only one place in Canada with a gas price over $2/litre, which is Squamish, BC, at 204.9 cents per litre. Leduc, Alta., is the cheapest place in Canada to fill up at 137.9.