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Carbon tax, oil speculation drive up Alberta fuel prices

Gas prices in Alberta have gone up an average of 8.6 cents over the past week, more than three cents above than the rest of the country.

Prices in Lloydminster now range between 106.9 cents and 108.9 cents a litre, according to the website Gasbuddy.com. Senior petroleum analyst Dan McTeague said that the carbon tax introduced at the beginning of the year is responsible for about two cents of the increase.

Another five cents is likely due to early speculation about the success of O-PEC’s oil production cutbacks. Prices across the province are 19.5 cents a litre higher than a month ago, and 24.7 cents higher than this time last year.

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