It might be a good time to fill up on gas.
With OPEC making the decision to cut its oil output on Wednesday, drivers in the Lower Mainland are being urged to fill up as gas prices are expected to soar by tonight.
Dan McTeague with GasBuddy.com is predicting prices will jump five cents a litre to $1.25 due to speculation happening in Algeria.
“It’s a bit of a market overreaction, because of course today everyone’s sort of catching their breath, really trying to estimate where this thing’s going to go. Right now the jury is out on whether this will be a short-term thing or a long-term realization.”
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McTeague says the price increase will last for a while.
“Safe bet that if you’re passing a gas station, best to fill up today. This could be going on at least for another seven or eight days in the mid 120s.”
McTeague says the prices aren’t exclusive to B.C., and that the spike will be across Canada.