How a weather event in the U.S. can hurt western Canada's drivers at the pumps
Drivers in Saskatoon have been hit with unwelcome news as gas prices soared to $1.68 per litre this week. The increase is not limited to Saskatoon; drivers throughout western Canada have experienced similar hikes.
Luka Goubeia, a local motorist, expressed her frustration with the rising costs.
"It feels kinda crazy, the amount of gas we take to get up to the lake wasn't always so high, and I was like 'oh my god, that's half my paycheck,'" said Goubeia
According to industry analyst and former Liberal MP Dan McTeague from Canadians for Affordable Energy, the price surge tracks back to a storm in Chicago that temporarily shut down the Joliet Refinery.
"We're attached at the hip here in Alberta, Saskatchewan, Manitoba, and even interior BC to what happens in the Midwest. It's a spot market for gasoline, and based on that, we've seen futures go up thirty cents a gallon," McTeague explained.
While some areas, like Rosthern, still have lower prices around $1.53 per litre, McTeague cautions that these prices are likely temporary and due to varying inventory levels.
"They haven't gone through the inventory that they filled up with a month ago," he said. "They're lucky if they're able to sell 8,000 or 9,000 litres a day. Many gas stations in Regina, Saskatoon, and other populated regions tend to be 25,000 litres a day."
Although price hikes are a burden for consumers, they reflect a robust oil and gas sector.
"Steady as she goes, even if we're at higher prices than we like, that's much better than prices jumping up. Inflation is steady; inflation moving up and down is not so good," said Joel Bruneau, a University of Saskatchewan economics professor.
As the Joliet Refinery resumes operations, McTeague expects gas prices to decrease to the $1.50 range in the coming weeks.
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.6450420.1725820142!/httpImage/image.jpeg_gen/derivatives/landscape_800/image.jpeg)
Bloc Quebecois ready to extract gains for Quebec in exchange for supporting Liberals
The Bloc Québécois says its ready to wheel and deal with Prime Minister Justin Trudeau's party for support during confidence votes now that the Liberal government's confidence and supply agreement with the NDP has ended.
Over 200 firearms seized in Waterloo weapons investigation
According to police, during a traffic stop officers noticed firearms and ammunition inside the vehicle.
'It's morally wrong': A rural Alberta town reacts to homeless shelter closure
At the end of a side street in Slave Lake, Alta., Lynn Bowes looks at a grey job-site trailer with boarded-up windows and doors that once operated as her town's only homeless shelter.
Timeline: The rise and fall of Prime Minister Justin Trudeau's political fortunes
In the wake of the NDP withdrawing its automatic support of the minority Liberal government, here is a timeline of key events charting the arc of Prime Minister Justin Trudeau's fortunes in federal politics.
The controversial plan to turn a desert green
Ties van der Hoeven's ambitions are nothing if not grand. The Dutch engineer wants to transform a huge stretch of inhospitable desert into green, fertile land teeming with wildlife.
Military surplus store in Calgary, destination of celebrity shoppers, closing doors
Cher, Anthony Hopkins, Heath Ledger, Alec Baldwin and Tom Hardy are just a few of the celebrities John Cumming met while growing up in his family's military surplus store.
'Beetlejuice Beetlejuice' jolts box office with US$110 million opening weekend
After 36 years of waiting, the juice is finally loose again in 'Beetlejuice Beetlejuice,' this time racking up US$110 million in its premiere weekend.
Mother of Georgia shooting suspect called school to warn of emergency, aunt says
The mother of the 14-year-old who has been charged with murder over the fatal shooting of four people at his Georgia high school called the school before the killings, warning staff of an 'extreme emergency' involving her son, a relative said.
Trump threatens to jail adversaries in escalating rhetoric ahead of pivotal debate
With just days to go before his first and likely only debate against U.S. Vice President Kamala Harris, former U.S. president Donald Trump posted a warning on his social media site threatening to jail those “involved in unscrupulous behavior” this election, which he said would be under intense scrutiny.