Gas prices have recently shot up in Okotoks.
According to Patrick De Haan, the Head of Petroleum Analysis at GasBuddy, gas in Okotoks is sitting at 155.9 cents per litre, which is up 8 cents a litre from last week.
"It's funny, because we just made the last step to transition over to summer gasoline from winter gasoline. That's something that happens every spring when we make that transition." De Haan explains.
De Haan says that winter gasoline has more butane in it than summer gasoline to help with vehicles starting in cold weather, and is relatively cheap.
"And as we get closer to warmer weather, a lot of that butane, which is a little bit more volatile and evaporative, we remove butane from winter gasoline, replacing it with more expensive alkylate. So, when we make the switch over from winter gasoline to summer, there's usually quite a bit of a jump."
But, De Haan says the increase should only be temporary, as prices should hold for the next few days, and then they may start rolling back leading up to April.
That's due to Prime Minister Carney pausing the Carbon Tax, which would allow for 16 cents per litre or more in savings at the pump.
"Whether or not that is permanent, we'll have to see. It does take an act of Parliament to permanently cancel the Carbon Tax, so the Carbon Tax relief may be temporary."
He adds that if you can wait to get gas, do so, as the price should drop once the pause on the Carbon Tax takes effect.
While the price of gas is currently at 155.9, the Provincial average gas price is 149.9 cents per litre, which is up by about 4 cents from last week.
Even though the gas price in Alberta has gone up, gas prices in Alberta are the second lowest in the country, with only Ontario's being slightly cheaper at 146.8 cents per litre.
"Those are the only two provinces in Canada right now below $1.50," De Hann says.
With that said, De Haan added that there is still a lot of uncertainty around gas prices in Canada, due to the potential for U.S. tariffs on Canadian crude oil, as well as OPEC+ announcing they are restoring some oil production in April, which could lower gas prices, and the potential cease-fire between Russia and Ukraine could change the price of gas locally.
That's not even mentioning the upcoming Federal election, which could be the deciding factor of the Carbon Tax.
De Haan says to look for relief on gas prices in April, but it's tough to know which way the prices could go in the future due to the turbulent economic and political climate.