MEDICINE HAT, AB – If a market analyst is right, you may want to consider gassing up soon.
According to Gas Wizard.ca‘s Dan McTeague, the price of gas will likely rise 14 cents per litre within days in Medicine Hat.
McTeague says local gas stations are now losing money on the gas they sell by a cent a litre, and he says the cost for companies will likely rise another cent and a half sometime Friday night.
McTeague believes the price will rise sometime within the next few days to $1.47.9.
He says high oil prices, a weak Canadian dollar, and demand for gas are all factors in rising gasoline prices.
But the carbon tax is also a factor.
“The fact is it represents 10 cents on a litre of gasoline imposed in just the last 22 months. That is way above the rate of inflation. And as we know, on April Fool’s Day it goes up another 2.4 cents a litre,” McTeague told CHAT News.
He estimates the average price of gas across Canada is about $1.55 a litre.
