Gas prices climb to $1.69/L in Calgary as global oil pressure builds

Calgary gas stations are listing prices of more than a $1.66 per litre this week. Mason DePatie reports.

Drivers in Calgary are seeing another jump at the pumps, with prices now hovering around 169.9 cents per litre at some stations.

Other stops have prices a bit lower, listed at $1.67 per litre.

The increase comes as oil markets tighten, with West Texas Intermediate (WTI) sitting near $95 U.S. a barrel, while Western Canadian Select (WCS) has climbed to roughly $83, up about 2.5 per cent.

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Much of that pressure is tied to ongoing instability in the Middle East — particularly around the Strait of Hormuz, a key shipping route that typically carries about 20 per cent of the world’s oil supply.

Recent conflict involving Iran has sharply reduced tanker traffic through the region, disrupting global supply and pushing crude prices higher.

Those increases are now filtering down to consumers, with analysts warning prices could continue to fluctuate as long as the situation remains uncertain.