Prices at the pump are expected to rise as we approach another long weekend.
OXFORD COUNTY - Ahead of a holiday weekend, many people are wondering if gas prices will go up as they usually do for long weekends.
Dan McTeague, Senior Petroleum analyst with Gasbuddy.com says if you see prices around 123. / 125. they are not going to get any better as we get the closer to the weekend.
"What we are seeing here, likely toward the long weekend, prices could shoot back up to the 131. / 132. range likely by Thursday or Friday of this week, if not sooner."
McTageue adds that this time last year we saw a spike in prices at the pump because of the development of Hurricane Harvey; since then, prices have not come down.
So who is to blame? McTageue says we should go easy on gas station retailers.
"While some people may quickly conclude that 123. - still gives them a profit of two pennies per litre, while yes that may be true, except in most cases, people are using credit cards, which costs gas stations about 2-3 cents per litre. At that point, they are down to zero margin."
It has been an expensive year for Canadians, as there has not been enough oil going to markets. Meaning the devaluation of the Canadian dollar and undermines the purchasing power of Canadian consumers.
Registration Opens for Snow Buddies
Harvards Prepare for Remembrance Day
Students Face Off in United Way Stair Climb Today
Teenage Driver Charged with Impaired
Thistle Theatre Presents: The Perils of Persephone
CO Awareness Week Underway
Strong Winds Expected for Oxford
Federal Liberals Table Budget
TDMH Celebrates a Year of the RAFT
News Poll: Poppy Campaign Underway
SWPH Confirms Case of Influenza A
Public Input Needed for Woodstock Transit
Interview with the Mayor - November 3rd, 2025
PJHL Recap - Oct 31st to Nov 2nd
Nominations Open for Runway of Stars
Ultimate Burger Battle Begins!
Dodgers Beat Blue Jays in World Series
Impaired Driver Caught in Tillsonburg
Norfolk OPP Investigating Break-and-Enter
Comments
Add a comment