Winnipeg gas prices jump after floodwaters paralyze Gulf Coast

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This article was published 29/08/2017 (2973 days ago), so information in it may no longer be current.

Retail gas prices have jumped by about 13 cents a litre in Winnipeg in response to ongoing fallout from massive flooding along the Texas Gulf Coast.

According to GasBuddy.com., which tracks retail gas prices in Canada, at least 15 local stations had boosted the posted price for a litre of regular gas to 101.9 cents as of mid-afternoon Tuesday. The average price in the city at the start of the day was 88.8 cents.

But while some stations were hiking their prices, others were holding steady at between 86.9 cents and 88.6 cents. The lowest priced stations in the city continued to be the two Costco outlets on Regent Avenue West and McGillivray Boulevard, that were still charging 85.9 cents per litre for regular gas as of mid afternoon.

But even at 101.9 cents, Winnipeg prices were still well below the Canadian average, which GasBuddy.com pegged at 109.3 cents. And it looked like a bargain compared to the 139.9 cents a litre Vancouver motorists were paying on Tuesday.

GasBuddy.com senior petroleum analyst Dan McTeague predicted Monday pump prices in the city, and elsewhere across the country, would start climbing in the wake of rising wholesale prices in recent days.

McTeague suggested the price of a litre of regular gas in Winnipeg would jump to 95.9 cents, or higher, because the wholesale price they pay for the fuel had gone up to 92 cents on Monday.

He also predicted retail prices could remain elevated for up to a month, depending on the extent of damage caused by tropical storm Harvey and the length of time it takes for key oil and gas refineries along the Texas Gulf coast, and dwindling U.S. gas inventories, to return to normal.

murray.mcneill@freepress.mb.ca