Prince George drivers will likely be paying more to fill up at the pumps, especially if your vehicle requires diesel.
According to Dan McTeague with Gas Price Wizard, the recent unrest in the Middle East including the weekend killing of Iran’s leader is said to be the likely culprit.
“We are price takers, not price makers. Oil and gasoline are created on a North American and International market so it means that the price going up does mean we will see higher priced passed on regardless whether we have a refinery in our own back yard. At this point, it looks like the only situation in question is how high can it go and for how long?
“Given that about 20% of the supply of oil has now been disrupted or is at risk, that might not sound like a great number but when you are a world consumer producing 105 – 20 million barrels short every single day, it’s going to leave a mark and that usually means higher prices until the matter is corrected.”
McTeague added diesel prices could go up by 12 to 14 cents per litre as early as Wednesday while regular fuel prices could hike between four or five cents.
“Diesel is most likely to get his as Iran and many other nations producer heavier oil as we do in Canada, crimping supplies due to colder weather and other major use as we transition over to more mining, more agriculture and it means there could be a significant crimp on supply.”
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