In a news release Patrick De Haan, head of petroleum analysis at GasBuddy said, “Canada’s national average gasoline price moved higher over the last week, with most provinces seeing increases as oil prices regained momentum following a brief period of relief.”

He observed that hopes of diplomatic progress between the U.S. and Iran to ease supply concerns faded after President Trump’s meeting with the Chinese leader failed to produce a breakthrough on Iran, while renewed warnings toward Tehran have helped push oil prices higher again.

GasBuddy.com reports that the average retail gasoline prices in Saskatoon have fallen 1.8 c/L in the past week, averaging 182.46 c/L yesterday. GasBuddy conducts a daily survey of 81 gas outlets in Saskatoon. This compares with the national average that has increased 2.9 c/L in the last week to 187.64 c/L.

De Haan predicts gasoline and diesel prices are likely to remain volatile with markets highly sensitive to geopolitical developments and potential supply disruptions.