Gas prices jump above 80 cents at some Winnipeg stations

Drivers who happily got used to gas prices below 70 cents a litre may be in for a shock Wednesday, as prices have risen to almost 85 cents at some stations.

Expect benchmark price of around 82 cents a litre, says analyst

Prices around 84.9 cents a litre were spotted at various gas stations in Winnipeg on Wednesday morning. (John Einarson/CBC)

Drivers who happily got used to gas prices below 70 cents a litre may be in for a shock Wednesday, as prices have risen to almost 85 cents at some stations.

Prices around 84.9 cents a litre were spotted at various gas stations across the city in the morning — a bit of a jump from rates below 70 cents a litre that delighted motorists in late January.

Don't expect to see pump prices dip that low again any time soon, said Dan McTeague, a senior analyst with GasBuddy.com.

"I wouldn't say we're going back there anytime soon. If anything, there's up pressure on prices as opposed to prices moving down. So wait until next December to see those prices again, unless there's a sudden surge in supply and demand falls," he said.
The current prices are still a bargain compared to the $1.21 that Winnipeggers paid in August 2015. (CBC)

"I think the new benchmark for Winnipeg going forward would be somewhere in the order of about 82 cents a litre."

It may still be possible to find gas for about 76.9 cents a litre, at least according to prices reported on GasBuddy.com on Wednesday morning.

McTeague said there has been a bit of an increase on wholesale gas prices lately, "probably in the order of about six or seven cents a gallon, which translated into about a two-cent, two-and-a-half-cent increase."

"At the same time, retailers in Winnipeg do what they often do, and that's to drive down retail margins, their operating costs, in order to stay competitive with some of the big-box players and larger competitors in the market," he added.

The current prices are still a bargain compared to the $1.21 that Winnipeggers paid in August 2015.

You can look up the lowest prices in Winnipeg and Manitoba using our gas prices feature.

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