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asked 2019-06-11 09:44:19 -0500

CALGARY Canadian gasoline prices are expected to rise this week after widespread flooding from tropical storm Harvey forced many refineries on the Texas Gulf Coast to shut down.Wholesale gasoline canada goose outlet prices in the country will likely rise by an average of two to four cents per litre by Thursday, said GasBuddy senior petroleum analyst Dan McTeague, but consumers in certain markets could see much higher price increases.McTeague explained that retail operators in markets like Calgary, Montreal and Ottawa are barely breaking even now and could use the wholesale price increase as an excuse to raise prices by as much as another 10 cents per litre to boost profit margins.are taking a wait and see approach and I think that really why you going to see very little, for now at least, in the way of any major spikes until at least Thursday or Friday, he said. Prices are expected to spike over the next week or more as about 10 refineries representing more than 15 per cent of the nation refining capacity are closed, including ExxonMobil, Shell and Phillips 66 operations.When water recedes, prices will fall more slowly than after other storms that hit the refinery rich Gulf Coast, like Hurricane Ike in 2008, said Rick Joswick, an analyst with S Global Platts PIRA Energy. Daily refining capacity had been knocked out.

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