Summer Gas Prices Too Difficult to Predict says Analyst
Prince George, B.C. – There are too many factors at play to safely predict what this summer’s gas prices will look like in Prince George.
That from Dan McTeague, senior petroleum analyst with GasBuddy.com.
“Your prices are in the 1.17/1.18 range right now, in some places a little cheaper than that, but generally speaking during the summer we have a combination of problems that can emerge almost without notice.”
He says a good example of that was the refinery outage in Edmonton earlier this month causing gas shortages in Alberta and parts of B.C.
McTeague says another potential wildcard are refinery shutdowns in the United States.
“If there are shortages or refineries in the Midwest that run into difficulty or have some kind of interruption, especially during summer peak driving periods with U.S. demand being where it is for gasoline, we could end of paying a lot more.”
In the short-term however, he says we may get a break.
“I think right now 1.17 to 1.23 is about the high water mark for the next couple of weeks. Once things get resolved you could see things trend down towards the 1.10 mark. But making predictions in the long term are usually predictably wrong.”