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FORT McMURRAY — Fuel prices in Fort McMurray are continuing to show some volatility according to data from GasBuddy.com.
Data from GasBuddy on Thursday showed gasoline prices in Fort McMurray ranging from 134.9 to 136.9 cents per litre.
While gasoline has risen sharply in recent days in some markets, analysts say the bigger issue developing in energy markets is diesel.
Patrick De Haan, head of petroleum analysis with GasBuddy, said diesel prices have surged to their highest levels in more than two years, rising nearly 40 cents per gallon in the past week in the United States.
The national U.S. average price for diesel reached $4.124 per gallon Thursday, the highest level since December 2023.
“The diesel market is simply tighter,” De Haan wrote in a market update.
He said recent drone attacks on a Saudi refinery, a shutdown of natural gas production in Qatar and lower fuel inventories during cold weather have tightened global supplies of distillate fuels such as diesel and heating oil.
Unlike gasoline, which is driven largely by commuter demand, diesel plays a central role in freight and industrial activity.
It powers long-haul trucking, rail shipments, construction equipment and agricultural machinery.
When diesel rises quickly, transportation costs can increase across supply chains, often pushing up the cost of shipping goods and raw materials.
De Haan said the recent surge is among the fastest increases recorded in GasBuddy diesel tracking since 2005 and the largest spike since the 2022 global energy crisis.
He said diesel prices may continue rising into early next week, even if gasoline price increases begin to slow.
Higher diesel costs can also take longer to ease, meaning shipping and logistics sectors could face sustained pressure if global supply remains tight.
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