At a time when drivers were bracing for a spike in the price at the pump thanks to OPEC, it all went the opposite direction.
As of Friday morning, with prices sitting steady at 102.9, they're 7 cents lower than a week or so before, around which time the decision was made to continue oil production cuts through 2018. This was in hopes to deplete excess inventory and thus give the market a boost.
A jump was expected to accompany the rise in oil pricing, however, it has yet to manifest itself. This is, according to analysts, partially due to the refineries slowly ramping up production once again after infrastructure issues and devastation and late maintenance resulting from the numerous hurricanes that struck the States. As gas inventory is rebuilding, the U.S consumer demand for fuel is skyrocketing alongside, which allows distributors to bump their profit margin down a little as well.
That said, come 2018 a permanent increase in the price could be the norm, if the federal government's 2.4 cents per liter carbon tax ends up having it's way. The shaky and fluctuating state of the Canadian Dollar doesn't help either.
In the meantime, even Santa may head to the prairies to gas up his sled, as those traveling by road for Christmas won't find outrageously extravenous prices. Dan McTeague of GasBuddy.com doesn't expect to see anything higher than 110 over the holiday season.
While the picture is as of yet unclear for Saskatchewan, other parts of Canada may see that time as a final reprieve, before steady increases at the pump as carbon tax comes into effect in the new year. However, the question will remain...would the carbon tax extend to the North Pole too?