SASKATCHEWAN — Average retail gasoline prices in Saskatchewan have hit 145.02 c/L, up 13.4 c/L from last week, according to GasBuddy.com.
“In just a week, Canadian motorists have seen gasoline prices surge at one of the fastest rates in years after oil prices spiked following U.S. strikes on Iran and the effective closure of the Strait of Hormuz, pushing crude above $100 per barrel for the first time in years,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
The national average has increased 18.4 c/L in the last week to 153.88 c/L.
“With additional attacks across the Middle East over the weekend, fuel markets are now rapidly recalibrating to the risk of prolonged disruption to global supply flows," said De Haan. "As a result, gasoline prices across much of Canada could climb another 10–25 cents per litre this week, with diesel rising 15–30 cents per litre as higher crude costs begin working their way through the supply chain. While the situation remains highly fluid, Canadian motorists are already beginning to feel the effects as energy markets adjust to this sudden escalation.”
Saskatoon's prices are up to 149.68 c/L, up 13.7 c/L from last week and average retail prices in Regina have risen 13.8 c/L in the past week, averaging 146.65 c/L.
For live fuel price averages, visit http://FuelInsights.GasBuddy.com.
