Will the oil and gas industry bounce back from its slump?

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FORT ST. JOHN, B.C. – With Canadian gasoline prices as low as they’ve been in more than half a decade, the question arises, do motorists have reason to be concerned, about what could be in the offing, if and when, the oil and gas industry recovers from its current economic slump.

We put that question this week, to GasBuddy.com, senior analyst Dan McTeague.

The Gas Buddy monitor early this morning showed prices trending upwards again with about a half a cent a litre increase in both the BC and National averages to a 116.5, and a 102.5, respectively.

However, on a year-over-year basis they remain significantly lower, with the BC price still 11 and half cents less than it was this time in 2015, and the national average down 16 and half cents.

In BC, the price differential has also shot up again thanks to the Driftwood Auto & Marine Centre on Pender Island, off the southeast coast of Vancouver Island, where the Gas Buddy survey had the price at 145.9 cents a litre. 

That was at least 16 cents higher than any other location included in the monitor and it was 46 cents higher than the low end price in the province at the Prince George Costco, once again the only one below a dollar a litre.

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