Despite the price of crude oil hovering around 50 dollars a barrel, prices at the pumps have been on the rise.
GasBuddy.com petroleum analyst Dan McTeague says this is due to a long list of problems hitting American refineries,
“Labour disruptions. Some refineries have exploded in the west part of the US. Persistent cold in the North East has caused those refineries to have to curtail their productions such that for the first time in many months US production of gasoline has declined for two weeks in a row.”
His biggest point was that “we don’t put oil in our cars, we put gas in them” saying that crude and gasoline markets may be linked, but they can act differently.
McTeague says that “the party is over” for the time being and gas is expected to continue to rise.
In Prince George we continue to enjoy the lowest price of gas in the province; under a dollar at some stations while prices in Vancouver have topped $1.30.