Canada's Gas Prices Are Falling In So Many Places Right Now & Here's Where It's Cheapest

After skyrocketing for much of the year, Canadian drivers may finally be in for some respite as Canada's gas prices are cooling across the country.

According to the CAA, the cost of gas in Canada has been falling over the last few days — although, obviously, not all provinces are feeling the same degree of relief.

In Alberta, B.C., Manitoba, New Brunswick, Nova Scotia, Ontario and Quebec, the cost of fuel has been on the decline over the last two days, according to the CAA.

Meanwhile, residents of Saskatchewan, P.E.I and Newfoundland and Labrador may have noticed marginal increases during the same period.

But, even in these three provinces, the prices have seen a huge fall compared to a month ago.

As of Monday, August 15, the province with the cheapest gas prices is Alberta, where it averages at just 147 cents per litre.

Meanwhile, Newfoundland and Labrador has the highest price at a whopping 190.2 cents per litre on average.

In Ontario, the prices are down to an average of 165.6 cents per litre, while B.C has also seen a drop over the last two days to 185.7 per litre.

The national average price at the pumps right now is 165.7 cents per litre, following the two-day drop. This is a huge decline from the whopping 184.5 per litre average it was just one month ago.

All in all, this is great news for Canadians' wallets – especially those planning a long drive or road trip soon.

However, there is reason to believe that it might not last very long.

In an interview with Yahoo Finance Canada, gas expert Dan McTeague said he's worried that these prices could be a "short-term gain."

"There is a real danger that these unjustified price collapses based on erroneous data from the weekly oil inventories report could cause prices to rise sharply at the pump," he stated.

The cost of fuel is also tied to other factors such as the cost of groceries and overall inflation.

So, it might be wise to keep an eye out for the cheapest prices you can find – and fill up that tank while it's still low!

This article's cover image was used for illustrative purposes only.