Gas prices in Calgary have spiked once again Tuesday. According to GasBuddy.com, the average price to fill up with regular fuel in the city is $1.71/litre.
Prices still vary across the city, with the highest sitting at $1.77/litre at multiple stations along 16 Avenue, in downtown, Kensington, Bankview, Crescent Heights, and more.
The lowest reported price as of 7 a.m. Tuesday was at the Mobil station on Macleod Trail SE, clocking in at $1.44/litre.
Drivers who need diesel to fill up their vehicles will be hit even harder at the pump.
GasBuddy is reporting prices ranging from $1.84/litre all the way up to $2.08/litre.
Price have jumped an average of 50 cents over the last month.
This is thanks to global unrest due to the war in the Middle East and the subsequent blocking of tanker traffic through the Strait of Hormuz, where roughly 20 to 25 per cent of the world’s oil supply passes through on a daily basis.
Oil and gas output has also been curbed as a result of the war, which has killed more than 4,200 people across the region.
Premier speaking in U.S. on energy
Amidst ongoing volatility in the oil and gas sector, Alberta Premier Danielle Smith is in Houston this week with top global oil and has executives for CERAWeek.
She will speak Tuesday about energy security and to promote Alberta.
Bloomberg reports that at that same conference, vice chair of S & P Global, Dan Yergin, said a “security premium” is now built into oil prices and they are unlikely to return to previous levels.
Smith has also said on multiple occasions the province won’t be suspending the 13 cent a litre fuel tax.
Amid volatility at the pumps, the CityNews gas prices page tells you the average cost in Calgary and the lowest price near you — check in here.