Prices at the pumps are changing in Regina, and across Saskatchewan due to attacks on major oil facilities in Saudi Arabia this past Saturday.
The attacks have halted about five percent of the worlds supply, and have driven U.S crude prices up about eight dollars since the start of the business day on Monday.
Petroleum Analyst with Gasbuddy.com Dan McTeague said reserves can only hold off the supply demand for commodities like gasoline and diesel for a short amount of time.
“Sooner or later the loss of five percent of global supplies does impact, at a time of course when things like diesel and gasoline get more expensive because they’re in greater use, homes are using it, agriculture uses it for harvest and so for that reason it is a significant commodity with high demand,” McTeague said.
McTeague said prices at the pumps will jump about seven cents.
“It’s Regina, Saskatoon and all of Saskatchewan, it’s Winnipeg and really the whole kit-and-caboodle that will see this rise,” he said.
Monday night the price of regular unleaded was about 106.9 in Regina.
