'It's inevitable': Gas prices in Winnipeg expected to hit record high this week

Gas prices are expected to jump to a record high in Winnipeg as pumps across the country see gas prices spike amid the invasion in Ukraine.

Fuel prediction website Gas Wizard estimates gas prices in Winnipeg will hit 163.9 cents per litre on Thursday.

Dan McTeague, president of Canadians for Affordable Energy, runs the Gas Wizard website. He said Winnipeggers are not alone in seeing this price hike.

"Wholesale prices for gasoline on world markets have gone up, they've gone up pretty much across Canada," he said. "It's inevitable that Winnipeg will have to throw in the towel and gas stations will have to raise those prices at least to a level where they can afford to pay for the electricity to turn on their pumps on our credit cards, and basically pay their staff."

McTeague said by the end of the week, it will be costing gas stations about $1.52 per litre to replace the gas they are selling for around $1.49.

"It would be a blessing for gas stations to hold on to that, but they can't," he said. "They're holding on for dear life as it is now."

He said if gas prices do hit 163.9—that will be a record high in the city. The price at the pump isn't expected to drop back down any time soon.

"It really depends on the war in Eastern Europe and our resolve to choke off Russia's ability to wage war against the Ukraine, and Russia's ability to use its gas and oil revenues to continue the war on Ukraine," McTeague said.

"(Our) inconvenience of higher prices pales in comparison to the suffering of the people of Ukraine. So it's a small price to pay, as inconvenient as it is, until this war ends."

He said, if anything, Winnipeg may see further increases next week.