As predicted, gas prices jump in Calgary
Posted Aug 1, 2017 4:57 pm.
This article is more than 5 years old.
GasBuddy.com‘s prediction last week that gas prices would jump in Calgary has come true.
Senior Petroleum Analyst Dan McTeague said stations started increasing their prices on Tuesday morning and by the afternoon, many had already hit the expected new normal of 104.9/litre, up from an earlier average of 88.9.
“This was a real head-scratcher,” he said, noting stations had prices as low as 86.9 cents when they were paying 92.5 cents per litre on average. “They were literally giving away gasoline.
“What we’re seeing now is gas stations throwing in the towel and driving prices back.”
McTeague predicts prices will average between 99 cents to $1.03 range for the next few days before levelling out for the month.
“I think these prices at about $0.99 a litre, it looks like that will be the new normal at least for the next couple of weeks.”
