Bad weather, slow downs at refineries, and a lower supply.
Three things which have conspired to cause a huge jump in gas prices over the last week.
According to gasbuddy.com, the retail price for gas in Regina jumped more than 14 cents in the last week, to over $1.75 per litre. That’s much higher than the national average which sits at $165.93 cents per litre.
Gas is 44 cents per litre more than one year ago, and 20.5 cents a litre higher than we were paying only a month ago.
Prices are expected to climb a little more before the price should stop dropping again. That said, there are concerns that OPEC, the world oil consortium, will cut production by more than one million barrels a day because of the slowing global economy. That would also send prices higher.
