Are gas prices going up again?

It was a question people asked themselves before filling up for their Easter weekend travels, and it is exactly what happened before Good Friday. Prices jumped throughout the nation as Saskatchewan saw those numbers pass the dollar mark.

Now with prices remaining over a dollar in the west central Saskatchewan region, are residents set to see another rise in the coming weeks?

According to Dan McTeague, Senior Petroleum Analyst for GasBuddy.com, the cost of gas will likely stay in the same range people are seeing at the moment. Factors which could influence the prices are based on the Canadian dollar value and refineries south of the border.

McTeague added how refineries are starting to come out of maintenance, which will allow for more products to be available and should keep prices steady over the next couple weeks. Although, a rise in costs is expected after the midway point of May. "After the third week of May to the beginning of Canada Day festivities, we're looking at slightly higher prices."

As for the economic spectrum in the province for oil and gas, the situation is looking positive for drillers. According to McTeague, both Canada and the United States have not been producing as much oil and gas compared to two years ago. The latest report may call for drillers to increase production as the countries look to re-balance the oil and gas inventories.

To stay on top of the latest gas price trends and news, people can download the free GasBuddy app for their phones. "It's Saskatchewan-made, born in Saskatchewan, and it's made out of our backyard which the entire world is now starting to use."

 

Twitter: @MoisesCanalesJr

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