Forecasters have been suggesting that most of the country will ensure a “classic” Canadian winter over the next few months.
We’ve already had a taste of what’s to come but how will that impact fuel prices in 2017?
Senior Petroleum Analyst Dan McTeague says besides a cold winter which would increase demand, other factors also have to be considered.
“Of coures there are new standards for gasoline and diesel. Lower sulfur, the impact of a weaker Canadian dollar should the Americans continue to raise interest rates. All of these variables could see much higher prices for gasoline and diesel as well,” he notes.
McTeague says OPEC had a big impact in 2016 when the cartel flooded the market with oil but a recent announcement over curbing production means they won’t be the only variable on fuel prices in the coming year.
