Retailers blamed for the most recent rise in gas prices
Posted Aug 12, 2014 7:07 am.
This article is more than 5 years old.
A number of service stations boosted their prices by several cents a litre Tuesday to over $1.20 a litre.
The man behind “Tomorrows Gas Prices Today” tells 660News nobody should be that surprised considering most operators have been eating their profit margin over the past few weeks in order to remain competitive.
Dan McTeague said recently operators have been paying $1.11 a litre including taxes to bring in gas, yet they’ve only be charging their customers slightly more.
McTeague doesn’t believe the high prices will last long, falling to $1.15 a litre by the end of the weekend.
He said there are a couple of reasons why gas prices on average have been higher this summer compared to last, a lower Canadian dollar and refinery problems south of the border.
Jason Toews with “Gas Buddy.com” suggests we’re going to see more price swings in the weeks leading up to Labour day, but things should settle down after that, with prices possibly falling back to a dollar a litre before the end of the year.
