Calgary pump prices expected to rise as oil rebounds
When oil prices rise, gasoline prices usually aren't far behind, says analyst
The days of filling up the tank for less than 85 cents a litre in Alberta may be in the rear mirror.
The price of oil pushed through $51 US a barrel this week, prompted by an OPEC agreement to cut production.
Gasoline prices usually aren't far behind, says petroleum analyst Dan McTeague of the website Gasbuddy.com.
- INTERACTIVE: See the price of gas at stations across Calgary
"We're seeing increases in the order of about 10 cents a gallon out of the Chicago spot market and that of course means that wholesale prices for gas stations have gone up (or) will go up," he said.
McTeague says Alberta drivers filling up the tank will probably find that the price per litre will rise by several cents.
"The days of under 85 cents a litre gasoline may be over and likely not to be seen unless something dramatic should happen on the oil or gasoline side going forward."
But December prices will be low compared to the price in the new year.
On Jan. 1 the provincial tax on gas will rise by nearly five cents a litre as part of the provincial government's carbon tax initiative.