Motorists feeling bloated at the pump, but discomfort will soon pass, analyst says

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Gas prices have jumped by more than 10 cents a litre at several Winnipeg stations as local operators finally pass on recent spikes in the wholesale price.

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Hey there, time traveller!
This article was published 23/08/2016 (2355 days ago), so information in it may no longer be current.

Manitoba Historical Gas Price Charts Provided by GasBuddy.com

Gas prices have jumped by more than 10 cents a litre at several Winnipeg stations as local operators finally pass on recent spikes in the wholesale price.

Although some stations continued to charge 93.4 cents a litre for regular gas Tuesday morning, at least a dozen others boosted their price by 10.5 cents to 103.9 cents, the GasBuddy.com website reported.

Although that kind of price hike is bound to give some motorists gas pains, GasBuddy senior petroleum analyst Dan McTeague said Winnipeg motorists are lucky pump prices haven’t jumped until now, given recent spikes in North American wholesale prices.

JONATHAN HAYWARD / THE CANADIAN PRESS FILES If you don't like today's pump price, hold off on filling up until later this week, suggests analyst Dan McTeague.

Motorists in other western Canadian cities have been paying higher retail prices for more than a week, he said.

“(Winnipeg) retailers have done quite the yeoman’s work in terms of protecting you from any wholesale-price increases being passed on immediately,” he said. “They’re the ones that ate this five- to six-cent-a-litre wholesale-price increase for a good 10 days before we saw these (pump) prices move up. But sooner or later they had to come up for air.”

But local drivers could get a break as early as Wednesday. Wholesale prices are dropping on the North American spot markets and the peak summer-driving season will be over after the Labour Day long weekend.

“If you don’t like 103.9, wait till tomorrow and it will be 101.9. Better yet, wait until Thursday or Friday and it will be back to 98 or 97 cents a litre,” McTeague said. “And I think by this time next week, we could very well be back to the 93- to 94-cent-a-litre range.”

murray.mcneill@freepress.mb.ca

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