Gas prices to continue climb

Gas prices expected to increase Labor Day weekend due to Harvey

The storm, which hit Texas last Friday, has disrupted oil refineries and pipelines on the Gulf Coast, leading to higher prices in the United States - and that has bled over into Canadian pricing.

Every station sets its own pump prices, but according Dan McTeague - GasBuddy's senior petroleum analyst for Canada - the reason for this weekend's spike is a potential gas shortage in the U.S.

"It went from $1.18 to $1.23 today and it's going to $1.32 tomorrow, so a nine-cent increase".

McTeague said it's likely prices will continue to rise through the Labour Day weekend.

McTeague took to Twitter Tuesday to predict prices would rise two cents a litre Wednesday and three cents Thursday.

The gulf coast of Texas is about 3,000 km away but we're feeling Hurricane Harvey here.

Grant says while no one likes higher gas prices, the news is not as bad as it seems.

"Inventories are declining, wholesale prices are rising, and that will have an impact in Eastern Canada more than in Western Canada, just because of its proximity to that major market in the States", said Kent Group senior vice-president Michael Ervin. "Maybe a week or maybe a month, but it seems unlikely to be a price change that will persist for some time", said Blackwell.

Wholesale gasoline and jet fuel prices have soared as at least 4.4 million barrels per day of refining capacity, or almost 24 percent of total USA capacity, has been closed due to the record rains.

By the end of day, that's exactly what happened, at least in Sudbury, with prices reaching $1.28.9 litre at many stations in the city. There is enough gasoline to meet needs, especially with Edmonton and Regina refineries alongside smaller ones elsewhere. Of course, we don't have spare barrels of gasoline we can send down there.

Related news:

Hot News

isis-killer-beheading-video-story-top Tottenham eye Andre Gomes as they wait on Ross Barkley
Sep 02, 2017 - 01:23
Still, unless we hear conflicting reports from some other source, we should maybe consider this transfer on the shelf for now. It is said Gomes is set to join Spurs on a season-long loan.

isis-killer-beheading-video-story-top Harvey shuts down major fuel pipeline supplying East Coast
Sep 02, 2017 - 01:18
Service at the pipeline's fuel loading and pumping stations in Houston, Pasadena and Cedar Bayou, Texas, have been interrupted. Already more than 15% of US refinery capacity has shut down due to the torrential rains that Harvey has dumped across Texas.

isis-killer-beheading-video-story-top Windows 10 Fall Creators Update lands October 17th, Microsoft confirms
Sep 02, 2017 - 01:13
Also, you may ink directly on PDF documents, and use the new Windows Find my Pen feature to find the pen if you have misplaced it. Smart Ink uses artificial intelligence to inking, allowing people to draw more flawless squares or turn boxes into a table.

isis-killer-beheading-video-story-top Jets get fantastic return for Sheldon Richardson
Sep 02, 2017 - 01:11
Richardson was also suspended for the first quarter of a game against the Dolphins last season for being late to a team meeting. The Jets are in the midst of a massive rebuilding project that has seen them cut tens of millions of dollars off their payroll.

isis-killer-beheading-video-story-top Super Eagles will qualify for Russian Federation 2018 ―Dalung
Sep 02, 2017 - 01:09
Broos is hoping for an away draw and a home victory - results that would reduce the gap between the countries to one point. The Group B rivals meet in southeastern Nigerian city, Uyo today and in Camerounian capital, Yaounde three days later.

isis-killer-beheading-video-story-top Tottenham front runners for Leicester City's Riyad Mahrez
Sep 01, 2017 - 02:11
Chelsea are also hopeful of completing moves for Fernando Llorente, Ross Barkley and Danny Drinkwater on deadline day. The mercurial winger was named the PFA Player of the Year in 2015-16 as Leicester won the Premier League title.

isis-killer-beheading-video-story-top Great British Bake Off proves ratings victor for Channel 4
Sep 01, 2017 - 02:10
Tuesday's episode was viewed by an average audience of 6.5 million, reaching a show peak of 7.7 million. Not only boasting a new channel, new judge and new presenters but a new yiddishe contestant to boot.

isis-killer-beheading-video-story-top Concrete Border Wall Prototype Contractors Announced
Sep 01, 2017 - 02:10
Customs and Border Protection (CBP) announced today that contracts have been awarded for concrete prototypes of the Border Wall. CBP has said it anticipates building four to eight prototypes and said Thursday it expects construction to begin this fall.

isis-killer-beheading-video-story-top Trump Jr. to testify in Senate, Manafort lawyer subpoenaed
Sep 01, 2017 - 02:09
Akhmetshin, a former Soviet military officer who served in a counterintelligence unit, is also a well-known Washington lobbyist. The president said he settled just to have the matter behind him, though his previous mantra was never to settle cases.

isis-killer-beheading-video-story-top Andrew Gillum says an end to DACA would be 'moral stain'
Sep 01, 2017 - 02:09
The end of DACA is especially worrisome for Florida college students . "He said he would end it", said Rep. Steve King of Iowa, a vocal opponent of the program.

isis-killer-beheading-video-story-top Red Cross Text Donations Delayed After 'Inundation' of Messages
Sep 01, 2017 - 02:09
The amount of each tax deductible donation will appear on the customer's receipt as a contribution to the American Red Cross . It doesn't mean there will never be a time or place for such donations - check with relief agencies as time passes.

isis-killer-beheading-video-story-top 3 storey building collapsed in Dongri, 3 dead
Sep 01, 2017 - 02:07
There is no official statement on how many people might be present inside the building at the time the building collapsed . The Mumbai resident was taking his child to the playschool - meant for pre-schoolers- when he saw the building crumble.

isis-killer-beheading-video-story-top Justin Bieber Nude Photos Leaked To Selena Gomez's Instagram
Aug 31, 2017 - 01:43
But Justin Bieber looked in high spirits as he stepped out in Beverly Hills on Tuesday, despite the scandal. Singing sensation and actress Selena Gomez enjoys a massive fan following on her social media accounts .

isis-killer-beheading-video-story-top West Brom sign Polish midfielder Krychowiak on loan from PSG
Aug 31, 2017 - 01:42
The 27-year-old defence-minded player will finalise the transfer to The Hawthorns once he receives global clearance. Grzegorz Krychowiak is having a medical at West Brom ahead of a loan move from Paris Saint-Germain.

isis-killer-beheading-video-story-top Kapil Sharma Keeps 'Baadshaho' Team Waiting, They Storm Out
Aug 31, 2017 - 01:40
Apparently, there were reports that the B-town celebs are so annoyed and were said to be boycotting the Kapil Sharma's show . He said that there was no anger as even they have heard that Kapil Sharma has not been keeping well.