What can we expect for 2017 as gas prices continue to rise?
Posted December 31, 2016 11:32 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Gas stations across the Lower Mainland are ringing in the new year with a big price jump as high as $1.35 for regular.
One petroleum analyst says it’s all thanks to a problem that doesn’t really exist, one he didn’t see coming.
Dan Mcteague with Gasbuddy.com says there’s been a lot of speculation over the past few days that US refineries on the west coast won’t be able to meet demand.
That’s causing massive price jumps south of the border which we’re seeing here because of the all the gas we import from that area.
“We really don’t know where traders are going to be come Tuesday and Wednesday when they get back to work. One hopes that their Christmas break excitement is met by reality that there is adequate supply.”
Mcteague expects these prices to persist into the New Year, though there should be a big price correction around mid-January.
