Gas prices are up above 110.2 this morning.
The weekly price adjustment saw gas jump 2.7 cents a litre overnight.
Senior Petroleum Analyst with gasbuddy.com Dan McTeague expects the prices will remain stable over the Christmas break, “There won’t be a lot of trading on the markets, which will affect prices next week, for the usual Wednesday to Thursday price differential. It’s likely that the prices we see now, are going to be around for a couple of weeks until things settle into January. I have a sneaking suspicion that with the OPEC oil cuts, once the traders get back to the markets on the second or third of January, it’s likely we’ll see oil head up and it will probably take gasoline with it.”
As expected, diesel and furnace oil also went up, by 3.2 cents a litre overnight.
