Gas up
Prices at the pump surge higher in Canada, U.S. as drivers rush to fill their tanks
Gasoline prices rose several cents overnight amid continuing fears of shortages in Texas and other states in the aftermath of Hurricane Harvey’s strike on the Gulf Coast.
The U.S. national average for a gallon of regular gas rose in one day from $2.45 Thursday to $2.52 Friday, the American Automobile Association reported.
At least two major pipelines - one that ships gasoline across the southern United States and to New York, and another that flows north to Chicago - have been slowed or stopped because of flooding and damage.
Gas prices rose at least 15 cents in 24 hours in several metropolitan areas including Dallas; El Paso, Texas; Athens, Georgia; and Dayton, Ohio, AAA reported Friday.
Part of the pipeline that runs through Texas is shut down and inspections must be done before the entire system can be fully operational again, Colonial Pipeline spokesman Steve Baker said Thursday. The Georgia-based company remains able to operate its pipeline from Louisiana to states east and northeast of there, though deliveries will be “intermittent,” the company said. It hopes to return more sections of the pipeline to service by Sunday.
In Canada, analysts say average gasoline prices across the country will continue to rise this weekend after jumping almost eight cents per litre since Hurricane Harvey roared ashore in Texas last Friday.
Consumers in Ontario are expected to be paying nine cents more per litre on Saturday, taking the average price in Toronto to $1.32 per litre.
Meanwhile in Montreal, the price is expected to peak at as much as $1.42 per litre at some point over the Labour Day long weekend.
Dan McTeague, a senior petroleum analyst for GasBuddy, says Canadian fuel prices are rising by more than those in the United States because the country is undersupplied with domestic fuel, causing an overreaction to supply shortages from closed refineries on the U.S. Gulf Coast.
He and Roger McKnight, chief petroleum analyst for EnPro International, agreed that prices on the Prairies will be relatively stable over the weekend after rising by five to 10 cents to about $1.10 per litre in the past few days.
In Vancouver, McKnight predicts little change but McTeague says he expects a fivecent jump on Saturday.
The Canadian average gasoline price has risen above $1.16 per litre, according to GasBuddy.
At least two major pipelines - one that ships gasoline across the southern United States to New York, and another that flows north to Chicago - have been slowed or stopped since Harvey struck the Gulf region.