Gas prices plunge to 62.9 cents in Calgary, 56.9 cents in Edmonton

Gas prices have plunged againin Calgary, but they're still notas low as what people are paying at the pumps in the provincial capital.

At least threestations were charging 62.9 cents per litre in Calgary on Tuesday, while at least 10 in Edmonton had sub-60-cent prices, with the lowest ringing in at one Fas Gas outlet charging 56.9 cents.

"Edmonton's market is super-competitive on the retail side; I would categorize it as almost cut-throat," said Dan McTeague, a senior analyst withGasBuddy.com.

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It's quite possible,McTeagueadded, for prices to go even lower.

"I think the short term between now and,say, Easter is that prices may stabilize, they may go down a little further, but all of this could change on one rumour of a couple of OPEC countries finally meeting," he said.

"It could change on new production numbers coming out of the United States or around the world."

As a rule of thumb, gas prices in Calgary will always be two or three cents higher than in Edmonton, McTeague said,because Edmonton has three refineries nearby, soCalgarianspay slightly more to transport the fuel.

Large Edmontonretailers are also more willingto sell gas at discounted prices to attract customers to their stores, he said.