Gas prices across the country have fallen for four weeks in a row now, and gasoline prices in Alberta have fallen 3.7 c/L in the past week, averaging 96.77 c/L on May 7.

Prices below a dollar a litre may be something to get used to as there is not much change on global markets that would see prices move up or down in the short term.

Dan McTeague, Senior Petroleum Analyst with GasBuddy.com says the decrease is because of too much supply and not enough demand.

"Demand tends increase dramatically for summer driving over the May Long weekend, the good news is that refineries have really ramped up their production," he says. "They've been taking advantage of cheaper oil and they're making a lot of gasoline anticipating a pretty big demand season, in fact most refineries though this would be the fourth year in a row where you would see an increase year over year in gasoline demand. That doesn't appear to be panning out and this is really why we're seeing a dip in pump prices when we expected them to be much higher at this time."

McTeague says both March and April were very quiet months for gasoline prices in Western Canada, which we could see continue until at least July 1, 2017.

He adds we're still paying more for gas than we were this time last year, but that isn't because of global gasoline pricing.

"Our prices are still about 6 c/L above what they were this time last year, which means that pretty much everything is the same as last year, except one factor which is the provincial governments carbon tax of 4.7 c/L on gasoline and almost 7 c/L on diesel."

For the most up to date gas prices in Okotoks click here.

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