Fuel Prices. (CREDIT: PIXABAY)
The price of diesel has been skyrocketing recently and a gas expert is weighing in on why.
Dan McTeague, president of Canadians for Affordable Energy, says diesel has increased by 35 cents in the past month because of its high demand and short supply.
“All of the U.S. eastern seaboard and in all of eastern Canada, demand is high for diesel, which is the fuel of choice for the workforce and the economy,” says McTeague. “There’s not a lot of it out there and there’s plenty of demand.”
He says diesel prices typically increase at this time of year because it’s also used for heating.
McTeague also explained why we’re seeing a shortage of diesel.
“For now [the price] will go up and they’re going up mostly because oil prices are going up,” says McTeague. “They’re in line with the increases we’re seeing as a result of the move by OPEC to cut back two million barrels of production, which actually in physical terms works out to about a million barrels.”
Find out more about current fuel prices in New Brunswick here.
