Gas prices to go up in 2017 – but by how much in Regina?

Gas prices have been shooting up lately, but just how high will they go in 2017?

Some gas analysts are musing prices could hit 2014 levels in certain areas of Canada – when pumps showed around $1.40 a litre.

As far as Regina is concerned, GasBuddy.com’s Dan McTeague guessed the city will average between a little more than $1 and a little bit less than $1.10 a litre. He said the worst case could be $1.15.

Speaking on the CJME Morning Show, McTeague explained how prices in Canada are heavily influenced by prices in the United States.

“Whatever the price indication is south of the border really forms the price for what we pay at the pumps,” he said.

“That’s been the way it has been over 40 years now in which the price you pay has everything to do with the value of the Canadian dollar versus the US greenback and disturbances south of the border.”

Prices saw a hike around Christmas time in the Queen City.

McTeague said that’s because two refineries in the Chicago-area both had difficulties supplying gasoline around the holidays, not only impacting how much drivers in the US paid, but also how much drivers were forking over in Saskatchewan.

Right now, GasBuddy.com shows the average price in Regina is about $1.06 a litre. The high mark is around $1.09 a litre.