Gasoline prices expected to continue to rise over Labour Day long weekend
CALGARY — Average Canadian gasoline prices are set to soar this weekend after already jumping nearly 10 cents per litre since Hurricane Harvey roared ashore in Texas a week ago.
Analysts say the hikes will differ greatly by region, with prices in Eastern Canada jumping by as much as nine cents per litre over the Labour Day long weekend, while prices in Western Canada remain relatively stable.
Prices are expected to remain high until refineries on the U.S. Gulf Coast return to normal operation, the timing of which will remain unknown until floodwaters recede and damage is assessed, they say.
“There was a five-cent jump at the pumps in Ontario today,” said Dan McTeague, a senior petroleum analyst for Gasbuddy.com, on Friday.