Winnipeg's gas prices are at an all-time high and they’re not expected to go down any time soon, according to experts. 

Many stations in Winnipeg have gas prices near $1.50/litre as of Wednesday morning. 

Less than 100 km from the Manitoba border, Red Lake Ontario now has the second-highest fuel price in Canada, next to Vancouver’s $173.1.

Unfortunately, as GasBuddy’s Head of Petroleum Analysis, Patrick DeHaan, tells us, prices are expected to continue to climb throughout the year.

“The price of oil has continued to rally on fears of a potential invasion of Ukraine by Russia, which could risk a disruption in the flow of oil. With that, oil prices last week touched $93 a barrel – the highest level since 2014,” says DeHaan.

“We are also entering a time of year that gas prices do tend to go up as Canadian gasoline switches from winter to summer gasoline in the months ahead, we see the demand start to go up, and at the same time, refineries perform maintenance work - which limits capacity.”  

While DeHaan notes there are many variables in play, we could start a see a drop in prices by the end of 2022, as the record-high oil prices help incentivize additional gasoline production.

Winnipeg’s prices are both listed below the provincial and national averages, sitting at $147.9.

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*With files from Ryan Forbes