We’re just days away from the Labour Day long weekend. And gas price hikes are generally expected just prior to a holiday weekend.
But Hurricane Harvey will drive the price up even more. Oil refineries in Texas and Louisiana have stopped production in the wake of the flooding in the region. And, with gasoline prices reflected by the “supply and demand” business model, we’re about to feel the pinch up here.
As Mark Carcasole of Global News reported this morning, prices have started to increase in the GTA, with the website GasBuddy.com indicating that prices could hit $1.22/L for regular gas by the time the Labour Day weekend arrives.
Tip of the Day: “Fill ‘er up today!”