Te recent stretch of low gas prices in Prince George has come to an end as fuel prices sky-rocketed by a dime this week.
Gas stations were buying their gas for 94 cents a litre and pricing it in the 95 cent range which is not enough to turn on electricity at the pumps or even pay off high credit card fees.
Senior Petroleum Analyst with Gasbuddy.com, Dan McTeague says they were in a lose-lose situation.
“That kind of squeeze for many gas stations impossible to continue following what happened in Edmonton, Calgary, Regina, Saskatoon and even Winnipeg the retailers had to throw in the towel.”
The prices are as high as 105.9 at several gas station along Central Street and College Heights.
McTeague says it’s uncertain how long this will last.
“My sense is that prices will start to show their full direction on December 1 so we’ll have to wait until the meeting with OPEC members concludes as that should end the juices.”
There are still gas stations in the 91-94 cent range including Costco at 91.4.