Saturday, January 05, 2008

Gas prices set to rise again?


The early warning system that is Petro Canada in Prince Rupert has issued a warning of sorts it seems, as the price of a litre of gas is posted as 1.10 this Saturday evening, two cents higher than the downtown stations which for now are selling their gas at 1.08.

The news isn’t good from the east as Prince George stations were quick to up the price of gas in the Northern Interior this morning. Opinion 250 reports that the price of gas jumped six cents from Friday night to Saturday morning, placing Prince George's gas price per litre at 1.09 or 1.10 depending on where you buy your gas.

So, one would suspect that the time is short in Podunk for our prices to remain below the 1.10 mark, as we always seem to trend higher in price than destinations to the east, what remains to be seen is how high the price will go as the months progress.

With a barrel of oil now hovering near the 100 dollar range (a situation that will have an effect on much more than our local fill up needs), some analysts are predicting a jump in gas prices to reach 1.30 a litre by spring and maybe 1.50 by the time summer rolls around, just as you may want to hit the road and do a little traveling.

In the short term, if you’re tank is low it may be worth your while to top up while the price is still where its at, one thing seems certain 1.08 is probably the bottom of the curve for the foreseeable future.

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