Temperatures are falling, snow is in the forecast and gasoline prices are headed up again.
Motorists in the Drumheller area noticed some stations jacking their prices by several cents a litre this morning, from 106.9 to 114.9.
"All of Alberta's gas prices are really based on what happens in the Chicago Spot Market for fuel," explained Dan Mcteague, the senior Canadian analyst for GasBuddy.com. "They've had some serious disruptions in supply: one major pipeline called Explorer ran into a severe problem last week and as a result, there's a bit of a panic buying."
While that is bad enough in itself, McTeague believes even worse news is just around the corner.
"The replacement cost of gasoline right now for most gas stations could be as high as $1.14 come Friday," he told 99.5 Drum FM. "For many of them, moving from $1.07 to $1.14 may only be a brief interlude (and) we're likely to see prices potentially move to the $1.19 or $1.20 (per litre) range."
"We're two months away from another increase in gas taxes, the Carbon Tax moving up about 2.6 or 2.7 cents a litre," he remarked. "So, the days of under $1.00 a litre gasoline may well be behind us."
McTeague doesn't see gas prices coming back down anytime soon. His advice if you see cheap gas advertised: fill up your tank immediately.
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