Area gas prices up 14 cents in recent days

Gas prices are on their way up in the Montreal area affected by the aftermath of Hurricane Harvey in the U.S

This recent soar in gas prices is caused by the devastation to the Gulf Coast caused by Hurricane Harvey, which interrupted supplies to the East Coast.

Between the service disruptions in the gulf due to the storm, and the busy travel weekend, you can expect the prices to rise even more.

The damage and flooding caused by Harvey has sidelined about 31 per cent of total US capacity for producing gasoline, diesel and jet fuel, said McTeague.

Most stations were reporting in the 114.8-116-cents range.

Consumers in Ontario are expected to be paying nine cents more per litre on Saturday, taking the average price in Toronto to $1.32 per litre.

On Wednesday, he added that another hike could be on the horizon for Friday - just as people hit the road for the Labour Day weekend.

On Monday, the average posted price in Montreal was $1.16 for a litre of regular, a price that jumped to $1.27 a day later.

If you own a vehicle in Montreal, you may be rather unhappy in the weeks to come, because gas prices have gone up and will probably continue to do so. The average price makes Arizona sixth-cheapest in the U.S.

In Canada, prices are also affected by a lack of competition among gasoline wholesalers and taxes, according to McTeague. He said this might help Calgarians anticipate the increases better and perhaps feel the effect a little less.

"We don't have enough supply in Canada and that's an argument I've made for some time", he said.

"Despite the country's overall oil and gasoline inventories being at or above five-year highs, until there is clear picture of damage and an idea when refineries can return to full operational status, gas prices will continue to increase", said Jeanette Casselano, a AAA spokeswoman.

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