"Retailers are playing catch-up": Alberta's gas prices spike wildly

If you’ve been out on the roads this past week in Calgary and Edmonton, you’ve likely noticed the price at the gas station, as both of Alberta’s major cities have experienced a double-digit price hike at the pumps.

According to the experts at Kalibrate, an organization that does data analysis of petroleum and fuel prices, the increase is due mainly to a recent rise in wholesale gas prices across the province.

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Kalibrate’s data shows that wholesale gas prices have been increasing consistently, with a total increase of 13.3 cents per litre over the last week. Wholesale prices rose by 3.6 cents per litre on Friday, 3.5 cents per litre on Monday, 2.5 cents on Tuesday, 1.1 cents on Wednesday, and 2.6 cents per litre on Thursday.

“It is likely that retailers are playing catch-up to rising wholesale prices,” Suzanne Gray, a consultant with Kalibrate, told Daily Hive.

This increase in wholesale prices is caused by a combination of factors Gray noted, including a decline in gasoline stocks in the US from the previous week and an 8.1% rise in US demand from the last week.

So, if you’re looking to fill up your tank, be sure to do it soon before prices go any higher!