Gasoline prices in Saskatchewan have surged in early March 2026 amid escalating conflict in the Middle East, with analysts warning prices could reach as high as C$1.50 per litre due to disruptions in crude oil supply through the Strait of Hormuz.
Rising Prices Across Saskatchewan
Gas prices in Saskatchewan have increased significantly since late February, with Kindersley reporting an average price of just under C$1.33/L for regular gasoline and nearly C$1.50/L for diesel as of March 4. Prices in Saskatoon have risen by approximately 15.5 cents from the previous week, averaging around C$1.36/L. Meanwhile, Regina saw prices reach C$1.369/L on March 3, just before the U.S. and Israel launched attacks against Iran.
Some regions such as Moose Jaw have experienced more stable prices, holding steady at about C$1.22/L. Despite this, the provincial average price has climbed to approximately C$1.32/L, reflecting broader upward pressure across the province.
Impact of Middle East Conflict on Oil Supply
Matt McClain, petroleum analyst with GasBuddy, attributed the price increases to the ongoing conflict in the Middle East, which has caused a roughly 90% reduction in tanker traffic through the Strait of Hormuz, a critical chokepoint for 20% of the world’s oil supply.
“That’s barring any de-escalation,” McClain said, emphasizing uncertainty about the conflict’s trajectory and its effect on oil prices. He predicted Saskatchewan pump prices could climb to C$1.50/L in the coming days if disruptions persist.
McClain also noted that oil prices began to stabilize on March 4 as the conflict entered its fifth day, but cautioned that multiple scenarios remain possible, including further price increases or stabilization depending on geopolitical developments.
Consumer Advice and Economic Implications
To mitigate the impact on fuel budgets, McClain recommended measures such as adhering to speed limits, maintaining proper tire pressure, and keeping up with vehicle maintenance like oil changes and air filter replacements to improve fuel efficiency.
These price fluctuations could have broader economic consequences, including potential effects on Saskatchewan’s provincial budget, scheduled for release on March 18, 2026.
Natural Resources Canada offers additional guidance on fuel efficiency, recommending driving at steady speeds between 50 and 80 km/h, avoiding idling, and limiting the use of air conditioning to reduce fuel consumption amid rising prices.
