Summer Gas Blend Blamed For Latest Hike At The Pumps
Pain at the pumps is here and likely to stay for at least the summer.
A jump in the wholesale price of gasoline is forcing retailers to hike the cost to the consumer.
Dan McTeague with Gas Buddy tells AM800 News, any station selling lower than $1.20 is losing money.
He says the switch to the summer gas blend is the key reason.
"It costs most refiners about three cents a litre to change the mixture. It happens across Canada from the 15th of April to the 15th of September. All gasoline in Canada must meet the summer fuel specs so that the fuel doesn't evaporate or become volatile when it's subject to higher heat"
McTeague adds, low priced gas probably means you're paying too much for something else at the retailer.
"On the wholesale side, taxes in, it's costing about $1.20. So if you're willing to sell it for $1.07, that's great let me line up - but I have to ask the question, how are you subsidizing the 13-cent a litre loss"
McTeague calls the Windsor gas market more than competitive, he says it's 'cut-throat.' - and heading to the U.S. won't save you as much because prices there are expected to go up by an average of 30-cents a gallon.
— with files from AM800's Patty Handysides
42nd Annual Poor Boy Luncheon