It’s back to reality when it comes to Prince George Gas prices.
In April, gas was dirt cheap at 69.9 cents a litre but now has risen to 117.9 at most stations, an increase of 48 cents over the past two months.
Canadians for Affordable Energy President, Dan McTeague spoke with MyPGNow.com.
“Demand is only down about 10% from where it was this time last year. What was a collapsing in demand for not just oil but most importantly gasoline, diesel, and jet fuel we’re now seeing what appears to be a full recovery when it comes to demand.”
McTeague hinted we could see another 10 cent hike in Northern Capital and across the country later this summer.
“Oil is struggling at about 40 dollars a barrel for West Texas intermediate and at about this time last year it was closer to 50.”
However, for the first time in a while, retail margins are quite healthy for local gas stations.
“It’s costing most gas stations a dollar five to buy their gasoline today but they are selling it for a buck seventeen so you have to figure that those numbers are way healthier for the bottom line of most gas stations.”
Costco remains the best option to fuel up at 101.9.
The lowest gas price in BC belongs to both Trail and Montrose where its 97.8 cents per litre.
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