Friday, July 25th22.2°C
22663
21739

Gas price spike a spring rite — but this year is worse than normal

CALGARY - A gasoline price spike is to be expected around this time of year, when refineries switch from producing heating fuel to gasoline.

But this year's pre-Victoria Day bump has been especially painful, with the national average above $1.37 per litre, according to price-tracking website GasBuddy.com. The price is a big jump from last year's $1.23.

GasBuddy co-founder Jason Toews says the price has never been this high at this time of year — although it hasn't surpassed the all time record of $1.42 in September, 2008.

John Kiemele, chief operating officer at energy consultant En-Pro International, says there are a few factors aggravating the price spike this time around.

For instance, the extreme weather in Canada has led to a delay in building up inventories of gasoline, just as demand is starting to pick up.

The loonie's drop against the U.S. dollar is also making things worse, because energy products are bought and sold in American currency.

The Canadian Press


Read more Business News

22557


Recent Trending




Today's Market
S&P TSX15455.04+60.59
S&P CDNX1017.445.79
DJIA16960.57-123.23
Nasdaq4449.564-22.543
S&P 5001978.34-9.64
CDN Dollar0.9247+0.0002
Gold1294.80+4.2001
Oil104.30-0.29
Lumber326.00+0.20
Natural Gas3.783-0.064

 
Okanagan Companies
Pacific Safety0.185-0.015
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07-0.01
Anavex Life Sciences0.275-0.005
Metalex Ventures0.08+0.01
Russel Metals35.36-0.21
Copper Mountain Mining2.820.00
Colorado Resources0.21+0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.19+0.01

 



22447

FEATURED Property
20175301055 Redlands Road
5 bedrooms 4 baths
$549,000
more details
Click here to feature your property
Please wait... loading


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22685