If you didn’t bother filling up a few days ago, it’s too little too late.

Gas prices have raised 4.0c/L on average in Alberta and it doesn’t look like they are going down anytime soon.

Dan McTeague, Sr. Petroleum Analyst, says the rise has much to do with last week’s OPEC decision to cut oil production affecting gas prices as well.

“Last year at this time we were paying about 6.0c/L less so you can imagine much of what we are seeing has everything to do with last week’s OPEC decision and speculation over oil prices and that brought gasoline with it.”

McTeague states based on whole sale prices the average price around Cochrane is at 90.9c/L, which is as low as gas retailers can go.

“With the whole sale price plus taxes etc. they buy off gas stations about 83-84c/L.  At 90.9 that’s 6 c/L, that’s pretty much rock bottom.”

This time of year the demand for gasoline is low and the supply is stable meaning the prices won’t fluctuate much this week. 

For live fuel price averages go here.