The average retail price for gas in Saskatoon has fallen 7.2 cents a litre in the past week, with an average price of $1.53.17 cents a litre yesterday, according to the website GasBuddy.com. The national average is $1.58.71 cents a litre.

The price of gas was 11 cents a litre higher in Saskatoon than it was a year ago, but it’s 21.3 cents per litre lower than a month ago. In the past five years, the lowest price for this time of year was 97.3 cents a litre in 2020 while the highest was last year with a price of $1.42.18 cents a litre.

The average price across Saskatchewan is also down 7.2 cents a litre, sitting at $1.55.7 cents a litre. Regina’s average is $1.57.32 cents per litre, down 5.2 cents from last week.

Head of petroleum analysis at GasBuddy, Patrick De Haan, says there could be even more substantial declines because oil prices plummeted last week to briefly trade under $80 per barrel. He believes it’s not impossible that if oil markets hold here, we could see a national average of $1.35 by Christmas.