Rising gas prices likely to stay in Calgary
Posted Mar 23, 2018 9:08 am.
This article is more than 5 years old.
Gas prices at the pump jumped at many stations to a $1.23 for a litre of regular on Friday.
Analyst with gasbuddy.com Dan McTeague said the U.S. selling its fuel to markets like Columbia and Mexico is a key factor in the latest price hike.
“So the U.S is really on a tear and of course it is the largest consumer of fuel products in the world, we price all of our fuel in U.S terms,” explained McTeague.
He says higher oil prices, and a diving loonie are also contributing factors and unfortunately the trends are likely to stay.
“You got to figure that this time last year you were paying about $0.17 a litre less, this is going to be a very expensive year and we should brace for it.”
McTeague said the average driver using 60 litres a week, will likely fork out an extra $400 to $500 this year compared to 2017.
