Gasoline prices in Canada continue to creep higher ahead of the Thanksgiving long weekend.
Some commentators had predicted gasoline prices could jump as much as 10 cents per litre in some markets mid-week. While that hasn’t materialized, 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 have led to supply challenges.
The group will cut production by a larger-than-expected 2 million barrels per day starting in November, saying the decision was based on “the uncertainty that surrounds the global economic and oil market outlooks.”
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