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Gas Price Hike 'absurd and unjustified'
Craig Huckerby for local2 sault ste. marie
September 12th, 2012 at 2:00pm
Your wallet will feel a lot more empty as your fill up your tank today in Sault Ste. Marie and across Canada.
Locally gas prices are expected to if they haven't already, shoot up to just-shy-of the $1.40 / litre range.
National the average hike is pegged in the 1 cent range. One of the hardest hit was Montreal where gas prices rose to a high of $1.53 today , That's a 13cent spike overnight.
In Sault Ste. Marie gas prices have risen for the last three weeks going from $1.31 to $1.35 and now $1.39.9
The average price on this date last year was in the $1.28 range according to GasBuddy.com
The lowest price in Ontario posted today was very cheap (by today's prices) at $1.14 in Thunder Bay.
Meanwhile, analysts and gas watchers say they have no idea what has caused the sudden overnight spike.
Dan McTeague.who runs the website, tomorrowsgaspricestoday.com says it appears to be a just a money grab and calls the price hike, absurd and unjustified.
Other industry watchers say there was no reason for oil companies to raise prices when the demand for gasoline is flat to negative.