HayDmitriy / Depositphotos.com
After a brief drop early in the week, gas prices are back up, as the market reacts to news regarding oil reserve numbers declining amid the ongoing conflict in Iran and the Strait of Hormuz .
As of this morning, many stations across Calgary are listing $1.72 a litre, more than 17 cents compared to Monday. Lethbridge saw their prices climb up to $1.67, and Medicine Hat has stations advertising $1.76 per litre as of this morning.
Despite the numbers, Alberta and Saskatchewan still have some of the lowest gas prices, with B.C still sporting some of the highest price-per-litre in the country.
According to the latest U.S. Energy Information Administration, crude oil inventories fell by eight million barrels at the end of May.
Even with the increase however, experts do maintain that the price should stay steady until the end of the week, although drivers will continue to see sudden and dramatic price swings in the coming weeks, as the markets react to developments in the Middle East and the changing oil inventory numbers.
Comments