Oil prices start rising and gas prices start falling

Oil prices rise as Hurricane cleanup efforts continues in the United States.

Brent crude is up 34 cents, or 0.6%, to $54.61 a barrel as the International Energy Agency said there was a high demand after a global shortage of Crude.

Oil prices have been on the rise for three straight days while gas prices in Canada start to fall, gas prices have been as high as $1.40 per litre at some pumps.

Regular gas price dropped five cents Wednesday morning with most gas stations charging around $1.15 at the pumps across Canada.

Locals in Calgary are feeling the burn in their wallets.

“Gas prices suck, I 35 KM to work every day and I have to buy at least one tank a week and I can definitely tell the extra $20 gone from my pocket” said a customer at Shell on 16ave SW.

“It was nice back in the way when gas was under 80 cents and we didn’t have to worry about gas prices” he said as he drove away.

As more clean up efforts are underway from Hurricane Harvey in Texas gas prices should stabilize within the next week or so as U.S. refineries start recovering.

According to gasbuddy.com, gas prices in Calgary are set at an average of $1.06 with the lowest being around $0.95 per litre.

Costco around the city of Calgary offers gas prices at $0.95,4 per litre.

 

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Benjamin Diaz

About the Author: Benjamin Diaz

Benjamin Diaz started working for Debate Report in 2017. Ben grew up in a small town in northern Ontario. He studied chemistry in college, graduated, and married his wife a year later. Benhas been a proud Torontonian for the past 10 years. He covers politics and the economy. Previously he wrote for CTV News and the Huffington Post Canada.

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