Higher Prices for Gasoline and Diesel Fuel in our Future

1703
Thunder Bay Gas Prices October 6

Thunder Bay – NEWS – The price of a litre of gasoline has spiked again.

Oil prices are at a 3-year high of $80US a barrel. Canadian oil is at about $62US a barrel.

There are market analysts forecasting that the world price of a barrel of oil could climb to $100US a barrel by the end of the year.

Western Canadian Select, the benchmark Canadian oil is traditionally far lower in price than West Texas Intermediate.

The price of gasoline – tied to the price of a barrel of oil means as winter draws in, it is likely that gas prices and the price of diesel fuel will both be headed upward.

That will, if happens likely cause upward price pressure on transportation, grocery and clothing prices as producers and retailers pass on the increased costs to end consumers.

Dodge Ram Trucks

Previous articleWhy the cultured meat industry needs its own Elon Musk
Next articleTBPS Update 2: Westfort Sudden Death and Fire Investigation
NetNewsledger.com or NNL offers news, information, opinions and positive ideas for Thunder Bay, Ontario, Northwestern Ontario and the world. NNL covers a large region of Ontario, but we are also widely read around the country and the world. To reach us by email: newsroom@netnewsledger.com. Reach the Newsroom: (807) 355-1862