After a few weeks at a standstill, the price of gas in Dauphin has lowered by one cent to 73.9 c/L.
The average price in the province fell by 0.7 c/L in the past week to average at 70.39 c/L.
Manitoba’s average is 7 cents lower than the national average of 77.39 c/L.
Including the change in gas prices in Manitoba during the past week, prices yesterday were 58.5 c/L lower than the same day one year ago.
Patrick DeHaan, head of petroleum analysis at GasBuddy, predicts prices to remain subdued for weeks still.
“While much of the talk last week was about the West Texas Intermediate benchmark falling to $0 and then into negative territory, it was very isolated and oil eventually rebounded back to the current $15 per barrel level, while many other crudes like Western Canadian Select continue to sell for just a few dollars per barrel. Prices will likely remain subdued until meaningful demand for petroleum returns, and that may not be for weeks or perhaps longer. In addition, every day until OPEC's oil production cut come into force May 1 is another day where global supply drastically outpaces demand, flooding the market with more oil, prolonging the time gas prices will remain low- something that easily could last into the summer."
Dauphin’s gas price of 73.9 c/L is higher than the average price of 71.59 c/L in Saskatchewan, and Winnipeg’s price of 66.41 c/L.
