Statistics Canada credits lower prices at the gas pumps and grocery stores helped bring down inflation in October. The annual rate of inflation dropped to 2.2 per cent last month, down from 2.4 per cent in September.

In Saskatoon, gasoline prices fell even further with GasBuddy.com reporting average retail gasoline prices in Saskatoon fell 3.3 c/L in the past week, averaging 122.71 c/L yesterday. This compares with the national average that has increased 0.8 c/L in the last week to 134.94 c/L. In Saskatchewan gas prices average 125.19 c/L, down 1.6 c/L.

In a news release, Patrick De Haan, head of petroleum analysis at GasBuddy said, “Prices increased in Nova Scotia, Ontario, British Columbia, Quebec, Alberta, and Prince Edward Island, while Saskatchewan, Manitoba, Newfoundland, and New Brunswick saw declines.”

He suggests that wWith oil prices remaining relatively steady near $60 per barrel and seasonal demand easing, further downward pressure on gas prices is possible in the weeks ahead.