Gas prices are high, but not for the reason some think: Analyst

The Shell station on the service road in east Regina was one of many gas stations that increased the price of gas by 10 cents a litre on Tuesday night putting the price at just over $1.43 a litre.

That is a record-high price for Regina according to a gas analyst with Gasbuddy.com and it is a record that could be short-lived.

Patrick DeHaan says with oil prices at a seven-year-high, he can see another jump with the price being around $1.50 a litre before October is over,

“There unfortunately will be more pain and there probably won’t be much relief before the end of the year.” DeHaan said. “These prices are likely with us for a while until oil production goes up and that may not happen anytime soon.”

While some are thinking this price coincides with a long weekend coming up when the demand for gas will be increased because of the travelling that is happening, DeHaan says that is false.  He says gas prices are going up not only in Canada, but across the United States as well and this is not a long weekend for Americans as their Thanksgiving holiday happens next month.

At this time last year, Reginans were paying just under a dollar a litre for gas.

Depending on where you fill up in Yorkton, prices for regular gasoline range from $1.31 to $1.43, while in Melville and Canora, the price for regular gas is $1.31.

(CKRM)

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