Gas prices in Drumheller have dropped to 96.9 cents per litre as of December 9, 2014.
Volatile energy prices can be a blessing and a curse in Alberta, but for drivers it is a welcome respite from the prices at the pumps.
On Monday oil prices closed below the $65 per barrel mark, continuing a slide from an average of over $100 per barrel for most of 2014. While it took some time for the drop to be reflected in gas prices, last week the price per litre at the pump in Drumheller fell under $1.
Across Alberta, the lowest price comes in at 81.4 cents per litre. In Drumheller, the price ranges between 94.9 and 98.9 cents per litre.
Dharminder Nigah, manager of Shell says he is seeing customers in a better mood.
”They are happy, they are always happier when they see the gas price lower,” said Nigah.
He says the lower gas prices help his bottom line and he finds that customers are more apt to maybe spend a little more at the convenience store, rather than just filling their tank.
“Lower gas prices are always good for business and it is also good for the community too,” he said.
Gord Van Kannel of Drumheller Co-op says the drop in price is welcome news at this time of year. While many are looking to possibly travel over the holidays, the drop is welcome.
Consumers get a pre-Christmas price break when filling up with gas.
“Merry Christmas!” he chuckles. “When it drops under that dollar mark, people really take notice.”
He says many customers are expressing some relief from the prices.
“Any time gas goes up there is certainly cause to be heard about the increase in the prices, but when it goes down it is all good,” he said. “I’m a consumer as well, so we enjoy those savings just as much as anyone else, and it is an opportune time.”
While there is a price break for gas, diesel vehicle owners are not seeing that same savings, with the price sill in the $1.20-1.28 range per litre.
“The biggest impact we are hearing is the supply issue, and right now the supply on the gasoline side is high and the supply on the diesel side is low,” said Van Kannel.
He says typically he does not see a change in people’s consumption patterns with the rise and fall of gas prices, but as the technology in cars improves, becoming more fuel efficient, the consumer also wins on that front.
“The one thing in this day and age - a lot of vehicles are quite efficient on fuel,” said Van Kannel.
He says they don’t particularly see an increase in consumer spending at the point of sale, the savings may show up in other places.
“At this time of year, consumers might take those dollars saved and then it might go towards Christmas purchases,” he said.
