Gas Prices Up to $1 a Litre Again
Gas prices in B.C. are going up again, after a short reprieve – and are now hovering around the $1-a-litre mark.
Prices at the pump have been rising steadily since the beginning of March. Last month, the cheapest gas sold for about 90 cents a litre. Last week, it was 96 cents.
Global demand for oil is one reason, but there are also other factors at work, says analyst Jason Taves of GasBuddy Inc.– which monitors prices across North America.
Taves says spring break demand is another reason for the latest price hike.
"We typically see gas prices go up around holidays, particularly big driving weekends and more specifically in the summer, but spring break is going to have an impact on this."
Taves says the price hike can also be blamed on production. He says refineries switch over from winter to summer driving blends at this time of year, reducing their output.
He also cites political unrest in oil producing countries such as Nigeria, and the possibility of United Nations sanctions against Iran.
CBC
Prices at the pump have been rising steadily since the beginning of March. Last month, the cheapest gas sold for about 90 cents a litre. Last week, it was 96 cents.
Global demand for oil is one reason, but there are also other factors at work, says analyst Jason Taves of GasBuddy Inc.– which monitors prices across North America.
Taves says spring break demand is another reason for the latest price hike.
"We typically see gas prices go up around holidays, particularly big driving weekends and more specifically in the summer, but spring break is going to have an impact on this."
Taves says the price hike can also be blamed on production. He says refineries switch over from winter to summer driving blends at this time of year, reducing their output.
He also cites political unrest in oil producing countries such as Nigeria, and the possibility of United Nations sanctions against Iran.
CBC
posted by Ottawa Gas Prices | 8:28 AM
0 Comments:
Post a Comment
<< Home