Relief in sight: Gas prices in Alberta are set to drop as soon as tomorrow

After days of skyrocketing gas prices in Alberta, some relief is on the way with an expected drop at the pump coming as early as tomorrow.

So if you are debating topping up a bit before fuel prices go even higher like they have been for the past couple of weeks, don’t!

You might also like:
• Scrapping the tax: Here's how Alberta is trying to ease gas pains
• A post about a 12-pack of canned soup for $22 in Alberta has people talking
• "Out of control": Value Village called out for questionable pricing practices

How much are fuel prices set to drop in Alberta?

Roger McKnight, chief petroleum analyst for En-Pro International, says prices in Alberta are set to drop by 12 cents per litre as early as Friday.

According to the latest daily pump price survey from Kent Group, regular gas in Edmonton sits at $1.667 per litre, Calgary is at $1.733 per litre and Lethbridge is $1.739 per litre.

The price drop is due to the international market’s reaction to some of the largest oil producers agreeing to increase crude production.

“The announcement by Iraq and UAE was that they were willing and able to increase crude production in an effort to replace any or some of the Russian crude now off the market because of the theoretical ban on the importing of Russian crude,” said McKnight.

“There appears to be a willingness of Ukraine to discuss a truce with Putin,” McKnight added.

McKnight is predicting significant drops for the following locations:

• Vancouver: 14 cents per litre
• Manitoba: 12 cents per litre
• Saskatchewan: 12 cents per litre
• Montreal: 15 cents per litre
• Halifax: 13 cents per litre

For those of you who are running dangerously low on fuel and need to fuel up today, we feel for you. Maybe just put 20 bucks in to get through the day.