Another holiday weekend, another price hike

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MONTREAL | up to $ 1.35 per litre for regular, the price of gas has suffered another dramatic increase in ridership in Montreal on Friday, with an average of 12 cents of the increase.

Dan McTeague, an analyst with the GasBuddy website, said a price hike was expected because the flooding caused by Hurricane Harvey in Texas had forced many refineries in the area to suspend their operations.

Canadian gasoline prices vary substantially by region and city, with Alberta, Saskatchewan, Manitoba, and most of the Atlantic provinces below the national average.

Earlier this week SooToday staff reported seeing gas prices as low as 106 cents per litre in the city.

When asked why Canadian prices would leap ahead of those in the U.S., McTeague pointed to a couple of reasons.

"Inventories are declining, wholesale prices are rising, and that will have an impact in Eastern Canada more than in Western Canada, just because of its proximity to that major market in the States", said Kent Group senior vice-president Michael Ervin.

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The uncertainty about gasoline production could stretch into a couple of weeks, he said.

"We may see even higher prices Sunday and into next week", he said.

Provo- $2.58/g, up 3.1 cents per gallon from last week's $2.54/g.

Marie days before the long weekend and as of Friday at around 5:30 p.m. prices were as high as 135.9 cents per litre.

"We don't have enough supply in Canada and that's an argument I've made for some time", he said.

In Vancouver, McKnight predicted little change on the weekend but McTeague says he expects a five-cent jump on Saturday.

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