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Local gas price skyrockets almost 30 cents per litre before long weekend

The reason is Hurricane Harvey, gas analyst says Ontario is particularly high and that prices may continue to rise
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The price of gas was 135.9 cents per litre at the Circle K on Second Line East on Friday at around 5:30 p.m. Jeff Klassen/SooToday

Gas prices have skyrocketed in Sault Ste. Marie days before the long weekend and as of Friday at around 5:30 p.m. prices were as high as 135.9 cents per litre.

Earlier this week SooToday staff reported seeing gas prices as low as 106 cents per litre in the city.

The rise in local prices coincides with price increases across the continent.

Several media outlets are reporting the cause is Hurricane Harvey.

The website gasbuddy.com tracks fuel prices across Canada and the United States. 

Gas Buddy Senior Petroleum Analyst Dan McTeague tweeted out on Friday that oil production is down roughly 30 per cent in the United States because of the storm. 

McTeague said gas prices may continue to rise Saturday and Sunday.

"Canadian prices rise faster & higher than anywhere else in the world signaling tight petroleum supply and market discipline: oligopoly," tweeted McTeague.

According to gasbuddy.com, the average retail price of gasoline in Ontario has risen from 107.5 cents per litre on Aug. 28 to 120.9 cents per litre on Sept. 1.

On Friday after 5 p.m. some locations were selling gas at 131 cents per litre with the Circle K at Second Line East and Pine Street selling it as high as 135.9 cents per litre. 

 

 


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Jeff Klassen

About the Author: Jeff Klassen

Jeff Klassen is a SooToday staff reporter who is always looking for an interesting story
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