Drivers in Portage la Prairie are feeling the sting at the pump, with gas prices rising from 129.9 to 134.9 cents per litre at most stations over the past week.
Patrick De Haan, head of petroleum analysis with GasBuddy, says the increase is part of a broader trend linked to rising tensions in the Middle East.
Global conflict drives prices up
“We’ve seen gas prices going up across much of Canada and North America,” says De Haan. “All of it really has to do with the situation in the Middle East after Israel attacked Iran and now the U.S. has joined in. Oil prices shot up on the escalations in the situation. That jump in the price of oil is now hitting retail pumps across North America, pushing up gas prices nearly coast to coast.”
He notes Manitoba has seen an average increase of six cents per litre in the last week, bringing the provincial average to 133.1.
Manitoba still among lowest in Canada
Despite the rise, De Haan says Manitoba remains one of the most affordable places in the country to fill up.
“Currently, Manitoba is still one of the cheapest provinces, just ahead of Alberta actually for the cheapest average price,” he adds. “Looking across Canada right now, Manitoba is actually for the moment the lowest price.”
What’s next at the pump?
While prices may continue to inch upward, De Haan says predicting what comes next is difficult.
“We’d probably continue to see a little bit of an inch up in the price of gasoline,” he remarks. “Making a prediction the next two weeks is very difficult because of the uncertainty over what’s happening in the Middle East.”
Diesel prices, meanwhile, could see sharper increases.
“Diesel inventories are running about 20 percent below average for this time of year,” De Haan continues. “Diesel prices are making a bit of a bigger jump.”
He mentions that any further developments overseas could quickly shift the outlook.
“If there’s any improvement, eventually gas prices will start to fade,” he says.
Sign up to get the latest local news headlines delivered directly to your inbox every afternoon.
Send your news tips, story ideas, pictures, and videos to news@portageonline.com.
PortageOnline encourages you to get your news directly from your trusted source by bookmarking this page and downloading the PortageOnline app.