A major jump in the price of fuel is settling in at stations throughout Calgary and experts say that Hurricane Harvey is likely to blame.
While some stations are still hovering at the 90 cent mark, many have already pushed their prices up to $1.04 per litre.
A handful of stations in the area are even posting prices as high as $1.10 per litre.
On Tuesday night, the price of gas was about 93.9 cents per litre.
The spike is likely related to the situation facing refineries in Texas because of Hurricane Harvey.
10 refineries in the area have shut down because of flooding. That means a deficit of more than 2M barrels per day or a full third of U.S. gas production.
The rise in prices is faster than what experts expected.
Last week, analysts said residents should expect small increases in prices, but only about five cents per litre.
It’s unclear when prices will be coming down as it all depends on when the refineries start working again after the flood cleanup.
According to GasBuddy.com, the average price in Calgary is 98.4 cents per litre, but that figure is expected to increase.
