Jump at the pump: gas prices on the rise in Regina

Drivers will be feeling the pain at the pump as prices rose in Regina on Friday.

According to GasBuddy, half a dozen stations were charging 95.9 cents a litre, while many still had prices around 89 cents a litre.

Gas analyst Dan McTeague expected that would change through the weekend.

“Its likely most will have to go up sooner or later because every gas station in Regina today is paying about 88, actually, 85 cents a litre for gasoline,” he said. “You’re just not making any money at 89 cents a litre.”

McTeague said, with about half of drivers paying for gas with a credit card which costs retailers money, gas stations weren’t making a profit.

He added that gas prices would probably be closer to a dollar if it weren’t for companies like Costco and Regina Cabs keeping prices competitive.

McTeague said he expects gas prices to fall next week by a couple cents.

“The new normal will be about 93 to 94 cents a litre, not 90 cents a litre as we’re seeing right now,” he said. “Prices will move to 95.9. They could stay there for part of the week, maybe move down to 91 or even 90 cents a litre.”