It’s good news for drivers in Regina as they’re benefitting from some low prices at the pumps at certain stations.
Gas buddy is reporting a wide variety of prices in Regina, from as low as 82.9 cents per litre to 97.9 cents per litre.
Gas Buddy’s Dan McTeague said the prices are different because of retail competition between the stations and not the prices they’re paying.
“They all pay the same price, pretty much within a penny or so, for wholesale gasoline and taxes in. The magic number today is 88 or 89 cents.”
He said the station that’s selling it for so low “must have some kind of a special deal on selling beef jerky because that’s how they make up the difference.”
He said every time someone purchases gas from a station using a credit card, it costs the gas station about two cents a litre. The station also needs to pay for their overhead costs.
“Normally a gas station needs about a six- to eight-cent retail margin to break even on every litre of gasoline.”
McTeague said he anticipates prices will remain the same throughout January, but does note a move upwards in the relevant markets could lead to stations returning to a 10- or 11-cent retail margin.