A double-digit surge in prices at gas pumps?

There are predictions that gas prices in Airdrie and the surrounding areas may surge as much as 11 cents on Wednesday.

According to Gas Wizard, Calgary may see regular gas priced at $1.389 per litre tomorrow. On Tuesday morning, Airdrie gas prices hovered between $1.24 and a $1.25. However, some gas stations in Airdrie hiked their prices on Tuesday morning to $1.369.

Gas Wizard provided a graph showing Calgary's past and possible future gas prices. (Graphic credit to Gas Wizard) 

In late December, the province announced that there would be a partial reinstatement of the provincial fuel tax. As of January 1, the fuel tax would add 9 cents per litre to gasoline and diesel.

President of Treasury Board and Minister of Finance Nate Horner, previously stated that despite that tax being reintroduced, Albertans would continue to save four cents per litre on gas and diesel in the first three months of 2024.

"After that, Albertans will save some or all of the provincial fuel tax when WTI [West Texas Intermediary] prices average $80 per barrel or higher in each quarterly review period."

Minister Horner added that, Alberta’s fuel tax is a predictable source of provincial revenue, helping to offset the volatility of other revenue sources.

"As a stable component of Alberta’s revenue mix, the fuel tax helps fund programs and services Albertans rely on while maintaining our significant tax advantage. The fuel tax relief program ensures we’re able to maintain strength in Alberta’s finances while continuing to support Albertans and Alberta businesses."

An update is expected before the next quarter ends on March 31, 2024.

Province-wide, on Tuesday morning, Stoney Plain Alberta was reported to have some of the cheapest gas in the province, priced at $1.07 for regular gas, this according to the website, Gas Buddy. 

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