March 6, 2026
RED FM News Desk
Gas prices are climbing in Calgary as global oil markets react to escalating tensions in the Middle East, raising concerns about possible disruptions to global crude supply.
Many gas stations across the city are now posting prices above $1.50 per litre after crude oil prices surged on fears that conflict could impact one of the world’s most important oil-producing regions. As of early Friday, the benchmark West Texas Intermediate crude was trading at around $85 US per barrel.
For Alberta, the increase presents both benefits and challenges. Higher oil prices can boost revenues for energy producers and government coffers, but they also mean higher fuel costs for consumers and businesses.
The price spike has also renewed discussion about how Alberta’s oil reaches global markets. Meanwhile, South Bow Corp. is scheduled to hold an investor call Friday to discuss potential growth projects linked to the Keystone Pipeline System.
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