Gas prices back up

gas pump

Most gas stations in the Kelowna area are selling regular at 138.9 per liter, an increase of 10 cents overnight. 

Gas Price Wizard Dan McTeague isn't surprised. He says the reason for the jump is a wholesale price increase announced yesterday all across Western Canada.

"Most gas stations have been selling gas for the past week near what it cost them to buy that fuel. The wholesale price for gasoline, taxes in, is about 126.5."

McTeague says we are at the mercy of the futures market in Chicago. Their prices go up and down for all sorts of reasons.

"This is probably it and you could see prices dial back to 135.9, 134.9 in the Okanagan. But, you won't see prices below a dollar 30 again for at least a couple of weeks."