While most Edmonton gas stations are selling their regular unleaded for 68.9 cents per litre, some drivers are finding a litre of gas for as low as 63.9 cents, the cheapest in the country.

Motorists could not be happier.

"A year ago we're talking $80, $100," says Simon Caron tallying the cost of filling his F150 pickup at Costco. "I was working in small communities, so gas prices are a lot higher there.

"Right now, 50 bucks. I was shocked. I thought the pump had just stopped. I was like damn, 'I should fill up some jerry cans.' "

Simon Caron says he pays half of what it cost him a year ago to fill his pickup, but is looking for work after losing his job in the oil industry. It's been seven years since drivers in Edmonton have seen gas prices this low.

"I don't remember it being this cheap ever in my life," said Jessica Persiel-Jones. "It's pretty crazy."

But Sam Taliani said he realizes the cheap gas comes at a cost.

"We all know it's good for the consumer, but it's bad for the economy," he said while filling up.

Petroleum analyst Dan McTeague says low gas prices will end up hurting Canadians in the long run.

Sam Taliani acknowledges while low gas prices are good for the consumer, they're a bad sign for the Alberta economy. (CBC) "We can all cheer these low prices and no doubt we deserve these low prices," he said.

"But there's a substantial and far greater cost to those prices because they reflect the extent to which the Canadian economy, jobs, investments, the kinds of things that pay for our pensions (and) our health care.

"The benefits are outweighed by the total impact to the economy in terms of jobs, revenue generation.

"Many people are aware that low prices have a cost and the cost is far more damaging," he said.

That not news to Caron. He used to work in the oil industry and is now living in his camper while looking for a job.

McTeague said it's hard to predict how long gas will remain below 70 cents. It depends on inventory and the value of the Canadian dollar.

"If the Canadian dollar was at par with the U.S. greenback, we would be paying about 12.5 cents a litre less than what we're paying today."