Gas prices took another hike late yesterday and started registering 195.9 for regular unleaded in Saskatoon.

EU leaders announced this week that they will block most Russian oil imports by the end of 2022 in response to Russia invading Ukraine. This ban is for oil arriving by sea but not pipeline oil. That news is believed to have impacted global oil prices and oil, West Texas intermediate – the North American benchmark – had been trading consistently over $118 a barrel U.S. earlier this week.

On Sunday,, according to gasbuddy.com, gas prices were averaging 62 cents a litre higher than a year ago in Saskatoon.

Patrick De Haan, head of petroleum analysis at GasBuddy says, “With the summer driving season now here, demand will continue to be a big factor in how high prices go. Canadians want to get out and about, but it’s becoming more clear that high prices are swaying some from driving, but with lower refinery capacity in North America than three years ago, I don’t see an ability for refiners produce as much fuel even with diminished demand, and that could keep prices high all summer long.”