Gas To Rise Again By Friday
Posted February 28, 2008 12:00 pm.
This article is more than 5 years old.
What goes down must come up.
Welcome to the bizarre law of gravity that the oil companies apparently subscribe to.
Just one day after Liberal watchdog Dan McTeague told you that gas prices would go down to $1.02.8 a litre, he’s back with a new warning: fill up now or pay $1.05. The nearly three cent a litre increase comes less than 24 hours following the deflation.
What’s going on? According to McTeague, the answer can best be summed up in just one word: greed.
The MP notes Canadian refiners usually charge between 4.4 and 4.5 cents a litre above the U.S.’s wholesale price. But for some reason, they’ve decided to up that to 5.6 cents beginning on Friday. He calls the latest reversal of fortune “bald face profit taking,” and accuses executives in this country of trying to impress their bosses down south.
What does all this mean to you? If you need to fill your tank, do it before midnight or be prepared to pay more in the morning.
Despite all the ups and downs, McTeague continues to insist the current marquee value simply isn’t sustainable. “I don’t see anything forcing these prices upwards,” he tells CityNews.ca. And he insists we’ll still be seeing costs closer to about 95 cents a litre by summer – if the gamesmanship stops.
