Retail gas prices — particularly on the western half of the continent — are still being impacted by a series of unexpected refinery outages in the U.S. that led to supply challenges
According to retail fuel price tracking website GasBuddy.com, the national average price for regular gasoline as of midday Wednesday was 167.4 cents per litre, up 1.1 cents from the day before and an increase of 6.5 cents from last week's average of 160.8 cents per litre.
And while the price of crude oil slumped in September, with the international benchmark Brent sagging as low as US$84 in recent days after spending most of the summer months over $100 per barrel, it jumped on Wednesday after the OPEC Plus alliance of oil-exporting countries decided to sharply cut production.
The impact of the production cut on oil prices — and thus the price of gasoline made from crude — will be limited somewhat because OPEC Plus members already can’t meet their quotas.
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