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Gas prices could spike up to five cents per litre Friday: Gasbuddy

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VANCOUVER (NEWS 1130) – If you’re getting low on gas, you might want to swing into your nearest gas station.

Prices could jump on Friday. Dan McTeague with Gasbuddy.com says prices are expected to rise up to five cents.

“That will likely put prices up to $1.24, $1.25 a litre,” says McTeague.

McTeague says the shift is likely due to OPEC’s announcement that oil production might be slowed.

“Given the giddiness by speculators that OPEC is going to start to cut some production, and the rumours are flying, it’s a safe bet that prices will continue to rise despite the fact that this time of year we usually see prices drop,” he explains.

“Gasoline does follow crude, especially this time of year. That means, of course, that starting Friday, we’re going to get the first effect fo that news with an unwelcome five-cent-a-litre increase.”

He says that spike is expected Canada-wide, not just here in the Lower Mainland.

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