Expect a jump in gas prices

Liberal MP and gas price watchdog, Dan McTeague is warning motorists, to expect about a 3.5 cent a litre increase today in the price of regular gasoline.

The price of oil has been rising on world markets, to about $60 a barrel U.S but Mr. McTeague doesn’t believe that’s the reason for the latest spike. He claims "this is nothing more than pure profit taking" and it comes at a very bad time when the economy still isn’t doing well.

He argues demand for gas is down and supply is up and gas prices should have been stabilized somewhere near 75 cents a liter.

However, the latest cross-Canada survey shows the national average has jumped, to 96.9 cents a liter, following another 1 cent increase in the past week. The 60-city monitor of Calgary-based MJ Ervin and Associates, also puts the price over a dollar a litre, in a dozen different cities, including Vancouver and Victoria.

However, here in Fort St. John as of early this morning, the common posted price was still 99.9 cents a liter, where it has been now for last three months.

BC Gas Prices-dot-com puts the provincial average today, at 99,8 cents, with the high end price still on Salt Spring Island, at a 1.19…and the low end price in Warfield, at 93.7 cents.

According to the Ervin survey the lowest prices in the country are in Alberta, with all five survey cities in that province, below 90 cents a litre.

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