Gas prices across the north are finally dropping after a lengthy increase.
The price at the pumps at most stations in Prince George is at $116.9 while it is a little lower at Costco at $111.9.
The downward spiral should continue according to Senior Petroleum Analyst with Gasbuddy.com, Dan McTeague.
“I think we still have a little more room for these prices to drop. I think we can see a four-cent drop on the retail side and probably another four cents on the wholesale side, meaning the 116.9 you’re paying today could drop to a $108.9 within the next seven to ten days.”
The northern capital once again can stake claim to the cheapest gas prices in the province according to McTeague.
“Your proximity to the Husky Plant makes Prince George the lowest price, sometimes I see Kamloops fighting for that but they definitely have a higher wholesale price, to begin with, because they have to draw most of their gasoline from Edmonton by the Trans Mountain pipeline usually has a seven cent per litre premium.”
However, there is one thing that could ruin the cheaper stretch.
“The one wild card could come on November 30th, the likelihood is that OPEC in Russia may decide to extend their oil production cuts at six months worst case scenario, best case scenario one year and that could continue support for oil at $60 a barrel.”
The drop falls on the heels of two lengthy price hikes at the end of October and earlier this month.