Gas prices hiking up
Might want to get your car filled up today- gas prices are on the rise.
GasBuddy.com Analyst, Dan McTeague says it’s a delayed response to a rise in wholesale gas prices.
“Wholesale prices for gas stations all taxes in, say three weeks ago, cost them about 94 cents a litre,” McTeague says “It shot up about 7 cents to a 101 cents over the past week or two. Rather than reflecting those increases, most gas stations simply absorbed the 5 cent, 6 cent difference, but they’re not going to do that for very much longer”
While most gas stations are still selling for 109.9 cents a litre, some are beginning to sell for 115.9 cents.
McTeague predicts most gas stations will bump up their price by Friday morning where they will stay for about a week before dropping down to a steady 112 cents a litre.