Drivers across the country, but especially in our province, have been marveling at where the price of gasoline has been heading over the last two weeks.
There are not many places in Alberta left that are still selling fuel at $1 or more, as the price in the major cities hover between 90.9 and 87.4 cents per litre.
The big reasons are lower demand combined with high supply reserves and the plunging price of oil on the world markets.
Some market analysts are predicting the price of oil could reach the $60 per barrel mark, quite the fall from $100 not that long ago. And with that downward trend, the price of gas is sure to follow. And it gets worse for the oil companies, as those same predictions indicate low prices could remain for as long as 18 months.
Should that take place, there will likely be job losses in several sectors of the economy, not the least of which the oil and gas service industry. That will mean our region will take a hit.
However, with the volatility of the market these days, no one can be completely sure of exactly how long this will last.
But, the only question on the minds of most drivers who feel they have been suffering for far too long is — how low can they go?
