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The gulf coast of Texas is about 3,000 km away but we’re feeling Hurricane Harvey here.
And it could get even worse by the long weekend.
The price at the pump has jumped considerably in Ottawa – and will likely go higher, according to analyst Dan McTeague, as Harvey hits Gulf Coast oil refineries.
As of Wednesday morning, motorists were reporting that a string of local stations were selling gas at 115.9 cents a litre – with one Vanier outlier charging 117.9 cents, according to ottawagasprices.com.
Most stations were reporting in the 114.8-116-cents range.
McTeague took to Twitter Tuesday to predict prices would rise two cents a litre Wednesday and three cents Thursday. He also predicted that retailers would use the two cent a litre increase in wholesale costs to restore 10 cent a litre operating margins – something consumers at the pump might call profiteering.
On Wednesday, he added that another hike could be on the horizon for Friday – just as people hit the road for the Labour Day weekend.
Over 23% of U.S. #oil #refineries output – 4.1 miilion bpd – is now down due to #Storm #Harvey – @GoldmanSachs#OOTT #OPEC #Houston #Texas pic.twitter.com/AOUDoudwEm
— Christopher Johnson (@chris1reuters) August 30, 2017
Front month gas up 11.08 cents/gallon to $1.894/gal. If that holds or increases today look to a 3+ cent/l HIKE for Friday ($121.9) #Ontario
— Dan McTeague (@GasBuddyDan) August 30, 2017
Gas Price Alert #Toronto #GTA #LdnOnt #Hamilton #Barrie #KW #Windsor #Ottawa #Niagara to
a 2 ct/l RISE Wednesday & then a 3 ct/l RISE Thurs
— Dan McTeague (@GasBuddyDan) August 29, 2017
查看原文...
And it could get even worse by the long weekend.
The price at the pump has jumped considerably in Ottawa – and will likely go higher, according to analyst Dan McTeague, as Harvey hits Gulf Coast oil refineries.
As of Wednesday morning, motorists were reporting that a string of local stations were selling gas at 115.9 cents a litre – with one Vanier outlier charging 117.9 cents, according to ottawagasprices.com.
Most stations were reporting in the 114.8-116-cents range.
McTeague took to Twitter Tuesday to predict prices would rise two cents a litre Wednesday and three cents Thursday. He also predicted that retailers would use the two cent a litre increase in wholesale costs to restore 10 cent a litre operating margins – something consumers at the pump might call profiteering.
On Wednesday, he added that another hike could be on the horizon for Friday – just as people hit the road for the Labour Day weekend.
Over 23% of U.S. #oil #refineries output – 4.1 miilion bpd – is now down due to #Storm #Harvey – @GoldmanSachs#OOTT #OPEC #Houston #Texas pic.twitter.com/AOUDoudwEm
— Christopher Johnson (@chris1reuters) August 30, 2017
Front month gas up 11.08 cents/gallon to $1.894/gal. If that holds or increases today look to a 3+ cent/l HIKE for Friday ($121.9) #Ontario
— Dan McTeague (@GasBuddyDan) August 30, 2017
Gas Price Alert #Toronto #GTA #LdnOnt #Hamilton #Barrie #KW #Windsor #Ottawa #Niagara to
— Dan McTeague (@GasBuddyDan) August 29, 2017
查看原文...
