Analyst says another gas price increase coming to Saskatchewan

As the May long weekend approaches, many Canadians are expecting an increase in gas prices.

Currently, gas prices are sitting around $1.56.9 per litre and an increase isn’t expected to happen for the long weekend, but it could be right around the corner.

“I would expect that sooner or later, markets are going to have to say, ‘Wait a minute. We have a shortage. Prices can’t fall, they have to go up,’ so we could see a big turnaround in June or July,” said Dan McTeague, a gas price analyst and the president of Canadians for Affordable Energy.

“Long weekends in Canada really have no relation to whether gas prices are rising or dropping and that it’s more of a myth or coincidence.”

One thing McTeague did note is that drivers across Canada will notice a five to 10 per cent decrease in mileage on their vehicles due to the increased use of ethanol in gasoline.

Ethanol usage is going up from five per cent to 15 per cent; that includes premium gasoline, which used to be exempt.

With Canadians now being charged for a clean fuel tax, gas prices could see an increase.

“That second tax with clean fuel tax will probably add 30 cents a litre on top of the 37.37 (cents per litre) that you are going to see with the first carbon tax and GST. So round it off at 70 to 75 cents a litre,” said McTeague.