Why Manitobans are seeing lower prices at the pump

Gas prices in Manitoba are dropping and are expected to remain low for the next several weeks.

A gas analyst said Manitobans can expect to see relatively low gas prices for weeks to come.

According to Gas Buddy, many gas stations are selling regular fuel at around $1.10 cents per litre, with some stations going as low as $1.02 cents Wednesday afternoon.

Patrick De Haan, head of petroleum analysis with Gas Buddy, said there are several factors keeping prices low.

“First and foremost, the federal carbon tax pause is keeping prices about 18 cents a liter lower than where they were last year,” he said. “So that’s a big part of how low prices have gotten.

“Why we’ve trended lower the last six weeks really has to do with the oil prices. As OPEC has progressively increased oil production this year, oil prices have been under a lot of pressure. In fact, in the last week, oil prices touched their lowest level since 2021 as OPEC’s additional supply pushes prices lower.”

De Haan added the winter and holiday travel season is also impacting prices.

“Many are taking time off,” he said. “Schools are closed. That leads to a drop in gasoline demand, which helps gasoline supplies increase.”

“Lower oil prices, lower demand, rising supply has put a lot of downward pressure on prices.”

De Haan said gas prices are expected to go up again around Valentine’s Day as demand increases.