More Gas Price Hikes Expected In September

Posted on Thursday, August 31, 2017 15:05 PM

Gasoline prices are expected to continue climbing in September according to a senior petroleum analyst.

Senior petroleum analyst Dan McTeague with says the shutdown of refineries in the Southeastern U-S due to Hurricane Harvey means about one-third of the American oil industry is offline.

"We price into that market.  It is the world's globally traded commodity and problems in a strategic place like Texas on the Gulf (of Mexico) coast is a problem for all of us across North America and in fact globally, " he notes.

McTeague says drivers should expect a possible 5 cent per litre increase next week if the interrupter clause is not used before then.

Gas prices in Quebec and Ontario have climbed more than 10 cents per litre over the past few days.