Gas prices expected to rise in February

Prices at the pump have been relatively stable during the winter months in Humboldt.  

Patrick DeHaan, petroleum analyst with GasBuddy, said the winter season is currently gasoline demand and prices down. “Early-to-mid February, that’s when we tend to start seeing gas prices rise seasonally. Refineries begin maintenance season before the summer driving season. That can last from February to April or May.” 

DeHaan added that the transition to cleaner gasoline before summer and an increase in demand from warmer temperatures could increase prices. He said by May, prices could be 15 to 20 cents more expensive per litre.  

Crude oil prices have been increasing, sitting around $75 per barrel, and DeHaan said that attacks in the Red Sea could have an impact into the future. “Houthi attacks on vessels in the Red Sea has impacted transit times, leading to a slowdown in the global shipping of crude oil. Any wild card there, or any developments could cause prices to rise more rapidly as we get into February.” 

The province with the highest average price in Canada is Newfoundland at 161.4 cents per litre, and the lowest is Manitoba at 116.7 centre per litre. The average price in Saskatchewan is sitting at 132.7 centre per litre.