Gas is on the rise.
Fuel prices have increased across the country, including here in the Saskatchewan capital, where fuel prices are as high as $1.27.9 per litre.
Gasbuddy.com’s Dan McTeague said the increase is due, in part, to a couple of things.
The first: Gas stations with no revenue were forced to increase the price, following the example of others who’d done the same thing.
“Sooner or later, retailers who are offering gasoline with no retail margin had to eventually throw in the towel and push prices up to, what is, for many people a very high number, 127.9,” said McTeague. “But, as far as the rest of the country is concerned, you (Saskatchewan) are significantly lower than they are.”
The second has to do with oil refineries in Edmonton shutting down for a short bit, which isn’t improving things in the short term.
“It’s likely they could go another week or so before they come back online,” he said. “When they start full production again, I suspect that will be worth at least a four percent wholesale decrease.”
For the foreseeable future, McTeague said the going rate for gas prices is likely to sit in the $1.18 – $1.27 dollar range, with the low end being the best case scenarios and the high end being the worst.