Crude oil prices are way down, but gas prices continue to be on the rise in Saskatchewan.
On Friday, crude sat below $36 US a barrel, but the price at most Regina gas pumps shot up about six cents a litre.
Analyst Roger McKnight said it is all about the oil companies trying to find a way to keep their profits up.
“The upstream is now getting shafted because of the low crude prices ’cause we’re getting close to operating costs,” McKnight explained. “So (they) are now going to have to make that up by putting that into the downstream.”
The downstream side is local gas stations.
McKnight thinks the price at the pump is expected to come down again – at least a little – in the next few days.
According to gasbuddy.com, 17 gas stations are charging 81.9 cents per litre.