By Laine Mitchell (Twitter: @Laine_Mitchell)

Gas prices reach highest point since summer of 2015

Apr 24, 2018 | 2:36 PM

Gas prices in Drayton Valley jumped on Tuesday, sitting at their highest point in years.

According to industry analyst Dan McTeague, prices of $134.9 per litre in Drayton Valley are the highest they have been since July of 2015. 

Prices have jumped seven cents since Monday. McTeague said the surge stems from multiple factors: higher oil prices, strong U.S. demand, a weak Canadian dollar and maintenance work at Edmonton refineries.

The increase may be the beginning of a trend that will hurt drivers wallets heading into the summer, says McTeague.

“We are potentially heading to levels not seen since July of 2013. It’s likely to see prices go higher as the summer goes on.”

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McTeague added the best case scenario going forward is to see $1.25 a litre at the pumps, and the worst case scenario is the $1.40 range.