The hike in gas prices today is going to get worse.
Prices across the Okanagan Valley averaged around 119.9/litre, but it91裸聊视频檚 expected to exceed the 125.9/litre very quickly .
91裸聊视频淚f you see gas at 119 now, I would jump on it because it91裸聊视频檚 going to go up further today possibly and very likely tomorrow,91裸聊视频 said Dan McTeague, a senior petroleum analyst with GasBuddy.com.
91裸聊视频淓veryone needs to fasten their seat belts as it91裸聊视频檚 going to be a rough ride at the gas pumps for awhile.
91裸聊视频淚 don91裸聊视频檛 see a downward trend in gas prices for at least the next two weeks.91裸聊视频
McTeague said there are several factors causing the gas price bump91裸聊视频攖he weak Canadian dollar, a major pipeline that delivers gas from Gulf Coast refineries to the US mid-west currently shut down for maintenance, reduction in the glut of oil on the world market and a booming American economy.
91裸聊视频淭he American economy is on fire right now. People are working, wages are up and the demand for fuel has shot up,91裸聊视频 he said.
91裸聊视频淢ost of the fuel delivered to the B.C. Interior comes from Edmonton and Edmonton fuel pricing is based on U.S. mid-west gas price futures set in Chicago. And the pipeline disruption is very sensitive to US mid-west pricing, so that91裸聊视频檚 a key factor behind what91裸聊视频檚 going on right now.
91裸聊视频淲e could see a 12 to 13 cent a litre increase in the B.C. Interior before things cool off.91裸聊视频
From a global perspective, McTeague says renewable energy source development is important, but the world appetite for fossil fuels continues to expand.
91裸聊视频淭he developed world economies are looking for ways to cutback on oil consumption, but the for the developing world countries, which is 90 per cent of the global economy, oil consumption continues to increase,91裸聊视频 he said.