The days of cheap gas may be coming to an end.
The price at the pump at a number of service stations across the region has gone up about nine cents.
Dan McTeague from Canadians for Affordable Energy says “Expect that the price will perhaps move up another five or six cents a litre. Considering it’s costing most gas stations here about 88-89 cents a litre to buy their fuel, that’s another four cents wholesale price increase on its way. We could see prices moving up close to a dollar-a-litre.”
McTeague notes “Refiners are not buying oil because demand has dropped, especially for gasoline. So they’ve nimbly cut back their production. That meant they are able to hold on to prices or at least keep prices strong and not see the collapse that oil did.”
The price at the pump in Dryden is around 93.9.
The average price in Ontario sits at 79.4 cents a litre and in Winnipeg, the price is holding steady at 73.9.
