Canadians could benefit on Sunday from the biggest drop in gasoline prices since 2009. Concerns about a virulent new variant of COVID-19 could cause a drop of 11 cents per liter at the pump.
Canadians for Affordable Energy, Dan McTeague, said the average price across the country could drop to about $ 1.32 per liter, before rising again mid-week.
Global crude oil prices plunged on Friday amid fears about the new variant called Omicron which prompted Canada to ban entry to foreign nationals who have traveled to southern Africa.
National gasoline prices have increased an average of almost 43% over the past year. The recovery of the global economy after lockdowns linked to the pandemic has led to an acceleration in crude prices.
The price of crude oil for January delivery fell 13.1% or US $ 10.24 on Friday to stand at US $ 68.15 per barrel.
The Canadian Automobile Association said on Saturday morning, Manitoba had the lowest average pump price at $ 1.35 / L, followed closely by Alberta at $ 1.377, while Newfoundland and Labrador was the highest at $ 1.583, just ahead of British Columbia at $ 1.558.