Gasbuddy.com is reporting that average retail gasoline prices in Saskatoon have fallen 0.3 c/L in the past week, averaging 171.94 c/L yesterday. This compares with the national average that has fallen 4.5 c/L in the last week to 176.17 c/L.

Including the change in gas prices in Saskatoon during the past week, prices yesterday were 37.2 c/L higher than the same day one year ago and are 12.5 c/L higher than a month ago. In Regina the average price of regular unleaded is 168.9 c/L.

Patrick De Haan, head of petroleum analysis at GasBuddy says oil prices eased following President Trump’s announcement of a ceasefire. In a news release he said, “However, with a breakdown in talks and renewed escalation over the weekend, Canadians should prepare for another round of price increases. The move toward a full blockade of the Strait of Hormuz is compounding global supply concerns and risks further disrupting flows, which pushed oil prices sharply higher in Sunday night trading.”

He predicts the result will be gasoline prices that are likely to jump again this week, with diesel expected to follow.