Experts say shifting factors including wildfires in Alberta, a slowing economy and potential pressures on supply will all have an effect on gas prices as the long weekend heralds the start of the summer.
“This weekend is the kickoff for summer driving season in Canada,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.
Demand for all types of gas, meanwhile, is up — especially for jet fuel, he said, indicating lots of interest in travelling outside the country. Anecdotally, prices at the pump have gone up ahead of the long weekend, said Brianne Gardner, senior wealth manager of Velocity Investment Partners at Raymond James Ltd.
Though higher prices from the current fires will likely be a shorter term effect, the longer the fires and production shutdowns go on, the longer elevated prices would last, Gardner said. She noted that this is just the beginning of a season often characterized by wildfires, meaning further disruptions could be ahead.
“I don't think they would want to refill the strategic reserve at the cost of running up the price of oil,” he said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gas prices could start rising over long weekend and into summer, economists say - National | Globalnews.caExperts say shifting factors including wildfires in Alberta, a slowing economy and potential pressures on supply will all have an effect on gas prices.
Read more »
Pumped for long weekend? Prepare to pay more for gasExperts say wildfires in Alberta, a slowing economy and potential pressures on supply will all have an effect on gas prices as long weekend heralds the start of summer
Read more »
An unconventional princess — Alberta's special link to Victoria Day: From the archivesVictoria Day is a day to remember Alberta\u0027s special link to an unconventional princess
Read more »
Alberta's fight against wildfires could drag on all summer, official says | CBC NewsAlberta's unprecedented wildfire crisis threatens to drag on through the summer. It could be months before fires raging across the province are brought under control, an Alberta Wildfire spokesperson said Wednesday.
Read more »
GUNTER: Alberta NDP tax plan will eventually hurt the middle class the most“To increase revenue, the Alberta NDP is asking profitable corporations to pay a little more by raising corporate tax rates to 11 per cent. The move is…
Read more »
Jesse Kline: Rachel Notley's 38% tax hike would be a death blow to Alberta prosperityAttempts to reestablish Alberta as a pro\u002Dbusiness jurisdiction will be dashed if Notley implements her anti\u002Dcorporate agenda
Read more »