Gas prices in Strathmore are rising this year.
According to GasBuddy, the highest gas prices in town at the time of publication are $154.9 at several spots including Husky, Shell, Petro, and Co-op.
The lowest price in town can be found at UFA for $149.4.
Patrick De Haan, head of petroleum analysis with GasBuddy, explained to StrathmoreNow why residents are paying more at the pumps.
"A lot of what we're seeing across most of Canada is simply oil prices having gone up. Thus, we're seeing a jump. Provincially Alberta is up 5 cents/litre. That's the same in Strathmore as well."
The provincial average is $149.0 and the price of oil soared close to $80/barrel on Thursday.
"A lot of that is attributed to the United States President Biden who escalated some sanctions on dark vessels that were carrying sanctioned Russian crude oil and Iranian crude oil," added De Haan.
"With those additional sanctions, the price of oil jumped on the fear that without that oil on the market, there's not going to be enough supply to meet demand."
De Haan says average gas prices in town are 25 cents/litre higher than what they were a year ago.
"$129.9 a year ago in Strathmore. Today, $154.9."
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He also mentioned that nationally there has been an increase of 15 cents/litre.
De Haan says another reason for the increase at the pumps is the carbon tax.
"Which goes up every year and will be doing that again here in three months. That is going to likely push up gas prices this year compared to last year."
He told StrathmoreNow that residents might get a bit of a reprieve over the next few weeks.
"We may see a slight dip in February. That's just because there is a lot of winter gasoline that is starting to pile up. That winter gasoline is going to have to make itself out of the system."
De Haan also said that there is a chance for gas prices to slingshot higher through February which could last until April or May.
"That is normal to see prices start going up in the spring because refineries start maintenance once the colder weather starts to move out."
The highest gas price in Chestermere is $154.9 and the lowest is sitting at $147.9.
Over in Calgary, the highest price is $154.9 and the lowest is $137.9.