Gas Prices Will Not be Dropping Any Time Soon
WINNIPEG, MB. – For those wondering, no, the inflated gas prices of late will not be lowering before this weekend. They may not even drop before next weekend.
On Friday morning the Canadian Dollar hit 83 cents American, or its highest value in two years. The loonie climbed the charts after the Bank of Canada upped its benchmark interest rate to one percent on Wednesday. The last time the loonie was at 83 cents U.S. was in June of 2015.
Wall Street has seen its stocks vary, as many investors have dealt in various ways with the losses associated with Hurricanes Harvey and Irma.
Hurricane Harvey has certainly impacted many of the Texas based oil refineries and experts are calling for another two weeks of seemingly high gas prices. With many American resources in shambles, the cost per litre of gas has jumped to levels not seen in Canada in nearly two years.
Gas prices in British Columbia are hovering around the $1.40 per litre mark, while Toronto and Montreal have seen prices in the mid $1.30s. Luckily for Manitobans, $1.05 is all that you will have to shell out at the pumps this week.
– Carter Brooks, MyToba News