Price at pumps skyrocket

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gas prices

For a third time this week, motorists have seen gas prices jump up to their highest levels this year, now at $1.32.9 at most local gas stations.

The price gets even higher heading east where the Esso station in Blind River was posting one of the highest prices in Ontario at $1.87 a litre as of Friday morning.

Prices started to jump on Tuesday of this week in Sault Ste. Marie and the Algoma district following news of tropical storm Harvey coupled with higher prices due to the upcoming long weekend.

According to Dan McTeague, of GasBuddy.com “31% of all U.S. gas production is now idle” and he predicts prices in Ontario will even go higher in the coming days.

Prices are expected to rise to $1.32 in Toronto by Sunday, meaning areas outside of the GTA will likely see higher gas prices over the weekend with a peak expected next Wednesday.

Prices are expected to remain high for the next few weeks until refineries in Texas re-open.

Canadian gasoline prices vary substantially by region and city, with Alberta, Saskatchewan, Manitoba, and most of the Atlantic provinces below the national average.

But most Canadian markets have seen gasoline prices rise several cents per litre over the past week, which has seen refinery and pipeline shutdowns in the U.S. Gulf Coast region due to storm-related flooding.

At least two major pipelines — one that ships gasoline across the southern United States to New York, and another that flows north to Chicago — have been slowed or stopped since hurricane Harvey struck the Gulf region.

 

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