The head of petroleum analysis at GasBuddy says, the average price of gas in Canada hasn’t been this low in early March since 2021, when the pandemic significantly reduced demand, keeping the prices lower. Patrick De Haan believes this time around, uncertainty over tariffs is playing a role in keeping prices lower.

As of yesterday (Sun), the average retail gas price in Saskatoon had fallen 0.4 cents a litre in the past week, averaging at $1.52.75 c/L.
Last year at this time, the price was 3.6 c/L lower. The national average over the past week was $1.49.68 c/L, which was 1.8 c/L lower than last year at this time.

De Haan says, “Concerns about the direction of the economy could have a major influence on fuel prices in the months ahead.” As well, OPEC+ announced last week that it would gradually begin restoring oil production after nearly two years of cuts, adding further downward pressure on oil prices, so, De Haan says, the typical seasonal rise in gas prices has yet to materialize, and if and when it does, it may be considerably smaller than expected.