4 C
Fort St. John
Saturday, April 20, 2019
9924 101 ave Fort St. John, B.C.
Home News High gas prices due to weak economy

High gas prices due to weak economy


Even though the price of crude oil has lowered, the price of gas seems to keep rising.

Cathy Hay of Calgary-based MJ Ervin says refineries weren’t making much money converting crude oil to gas in January. This was due to the weak demand. As the demand wanes, it tends to result in lower margins.

She says in response to the weak demand, the refiners chose to cut back gas production.

- Advertisement -

[asset|aid=928|format=mp3player|formatter=asset_bonus|title=8fd5ac469351b8b901154de3c04d6b2b-Cathy Hays 1_1_Pub.mp3]

Assuming crude oil stays at the price it is now, Hay expects the gas prices to lower soon, and remain stable for the rest of the winter.

Hay says gas prices are high all across the country.

get the latest news in your inbox



Local Events

Must Read

BC Wildfire Service reminding residents to use caution when burning outdoors

PRINCE GEORGE, B.C. - With Northeastern B.C. experiencing warm and dry weather conditions, the B.C. Wildfire Service is asking residents and industry personnel to...