In Dauphin, every gas station had a price of $1.49 per litre of regular this morning - a welcome sight for many, as gas prices were 30 cents higher just last week. But why the sudden drop?
According to Partick De Haan, gasbuddy.com's head of petroleum analysis, said it's a combination of usual seasonal factors, and external political ones.
"The relief is largely seasonal, as refiners finish maintenance and ramp up output just as demand fades with cooler weather. More oil moving through the Strait of Hormuz is adding to the downward pressure, and those same forces could keep prices heading lower in the weeks ahead," said De Haan.
De Haan said the drop in fuel prices isn't related to the recent U.S. Midterm Elections, and most of the drop is coming from those usual seasonal changes at major refineries.
Though he also warned any sudden shift in politics that affect major oil routes, like the Strait of Hormuz, could cause major disruptions to seasonal price changes.
