On January 1, the Alberta Government paused the tax on fuel, which the UCP said would save Albertans 13 cents per litre on gas.
Minister of Service Alberta and Red Tape Reduction Dale Nally says there will be big consequences for any companies found to be price gouging.
"We will keep a close eye on prices. Businesses found guilty of price gouging can be fined up to $300,000 or receive up to two years of jail time," he said.
The rising prices have some concerned that the UCP's fuel tax rebate isn't helping customers and that gas companies instead are just raising their prices to make consumers eat the cost. Nally explained this isn't the case, and Service Alberta and Red Tape Reduction's Consumer Investigations Unit is monitoring gas prices across the province to make sure there's no evidence of gouging.
Nally added Alberta has the lowest gas prices in the country, but the high costs remain a problem.
He said he and the UCP continue to call on the Federal Government to suspend the carbon tax, which he believes could lower prices across the country.