Prince George gas prices are jumping eight cents a litre just before Christmas.
Senior Petroleum Analyst with Gasbuddy.com Dan McTeague says issues in the mid-western United States forced the jump.
“A week ago at this time we saw one refinery looking for extra gas. Obviously it’s an issue with production or demand may have exceeded expectations which sent wholesale prices up five cents a litre and that was enough to tip the scales.”
A recent swoon of the Canadian dollar isn’t helping matters either. “We have a complication with the Canadian dollar losing a substantial amount of ground to the tune of 2.5 cents between Thursday and yesterday which is the value lost compared to the American green-back, that means our purchasing power has taken a major hit,” says McTeague.
Station owners in the city are purchasing gasoline between 95 and 96 cents a litre.
The new price of 107.9 will reflect a higher retail margin for local gas stations.
The cheapest place to buy gas is Costco at 96.9.
McTeague expects prices to remain over the dollar range for the rest of the year with higher prices expected in 2017.
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