If you're driving around the valley, you may notice that gasoline prices have gone up again.
Some stations are now charging $115.9 per litre for regular, up five cents from last week's price.
"It's $110.9 (and) retailers were buying it for $1.07.9, so as a gas station if someone presents you with a credit card that means you're selling gasoline at a loss," explained Canadian market analyst Dan McTeague of GasBuddy.com. "Retailers need to make ten cents a litre in order to stay alive; there's no other way around it, so I'm not surprised by the increase."
The wholesale price of gasoline and diesel in Alberta is set by the Chicago Spot Market, which fluctuates up and down with supply and demand.
"Beyond the wholesale prices, you have to take into account that taxes have gone up," added McTeague. "The Carbon Tax is 6.73 centres a litre, multiplied by five per cent, you're about seven cents a litre for the Carbon Tax alone."
"The $1.16 range which we're looking at today, your prices are about 15 cents a litre higher than they were at this time last year," noted McTeague. "(It's) a function of higher prices for oil, while diminishing value for the Canadian Dollar because Canada is refusing to allow Canadian oil to be sold in other markets, and that's depressing the Loonie."
What's worse, with spring around the corner, refineries will switch to making summer gas, which costs three to four cents per litre more to make, and McTeague would not be surprised to see regular gas selling at $1.20 a litre or more.