There was a big spike in gasoline prices – the average retail gasoline prices in Saskatoon have risen 20.6 c/L in the past week, averaging 176.28 c/L Sunday, according to GasBuddy.com. GasBuddy conducts a daily survey of 81 gas outlets in Saskatoon. This compares with the national average that has increased 3.3 c/L in the last week to 179.10 c/L.

Including the change in gas prices in Saskatoon during the past week, prices yesterday were 39.4 c/L higher than the same day one year ago and are 9.6 c/L higher than a month ago. The national average has increased 10.0 c/L during the last month and stands 37.9 c/L higher than this day one year ago.

In a news release Patrick De Haan, head of petroleum analysis at GasBuddy, said, “Average gasoline and diesel prices rose across every province over the last week as geopolitical tensions escalated on multiple fronts, with friction between the U.S. and Iran, new hostilities in the Red Sea, and the shutdown of Saudi Arabia’s East-West pipeline all combining to jolt prices sharply higher.”