The Russian invasion is going to impact prices at the pumps.
In correspondence with Acadia News, GasBuddy.com’s head analyst Patrick DeHaan, said that Russia’s moves will impact Canadian gas prices.
…Canada’s gasoline prices (will likely be going) up in coming days and weeks on similar trajectory to what we’ve seen the last month or so.
By May, prices at the pump could be 15-30c/L higher than today, a number that likely holds true for much of Canada.
The cost of gasoline has steadily inclined over the course of the past two years from the pandemic to go along with supply and demand, as well as lower production during 2020 because of the impacts of the virus.
Russia’s involvement in the Ukraine will have pricier consequences as they are the worlds largest producer of oil; exporting four to five million barrels of oil daily.
