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MoneyHigh gas prices in Calgary a sign of the times, analyst says

10:10  04 may  2019
10:10  04 may  2019 Source:   cbc.ca

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Gas prices were nearly .28 per litre at some stations in Calgary Friday. As of Friday, gas prices were nearly .28 per litre at some stations in the city, but Jason Parent, managing director at the Kent Group, said those prices are "somewhat normal," and caused by increased seasonal demand.

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High gas prices in Calgary a sign of the times, analyst says© Terri Trembath/CBC Gas prices are expected to increase into the summer due to seasonal demand.

Calgarians might be feeling a bit of sticker shock at the pump, but as vacation season draws near, gas prices are expected to take a hike.

As of Friday, gas prices were nearly $1.28 per litre at some stations in the city, but Jason Parent, managing director at the Kent Group, said those prices are "somewhat normal," and caused by increased seasonal demand.

"We're into that period in the spring and then early summer where typically we see prices on the rise and that's what's happening. There is increased demand," Parent said.

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ACCC boss Rod Sims says consumers paid the price when gas companies convinced governments of the need for massive export projects. Electricity prices — for households and businesses — have also been driven up by higher gas prices , because gas -fired power stations typically supply the

Prices are about on par with what they were a year ago, Parent said, and like last year, they will probably edge up moving into the summer.

High gas prices in Calgary a sign of the times, analyst says© Terri Trembath/CBC Terri Trembath/CBC

"That's the best guide on this stuff, is looking at what's happened in the past and again this time of year typically those wholesale prices are on the rise," Parent said.

"If we assume that same trend will hold this year without any other major shocks in the crude oil refined products world ... you're likely to see prices inch up a little bit from where they're at now before we get to the summer."

Calgary can also appreciate that gas prices aren't as expensive as other cities in Canada, like Vancouver.

Parent said Calgary's market in particular has been incredibly competitive over the last couple of years, which means the city has had slightly lower prices.

Read more

The growing problem of oil and gas companies not paying local taxes or landowners.
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