Gas prices could jump in the wake of Harvey
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VANCOUVER — British Columbia could use some of the rain that lashed Texas over the weekend causing devastating flooding in Houston following Tropical Storm Harvey, but B-C will feel the effects of that storm in another way.
Analyst Dan McTeague with Gas Buddy dot com predicts gas prices could rise dramatically this week across the province and Canada.
He says Houston is the nerve centre for the gasoline industry and about one quarter of North America’s oil refineries are along the Texas coast, so there’s little question gas production will be affected.
The last time a major storm hammered the Texas gulf coast, gas prices leaped 12 cents within days and McTeague expects a similar response this time, with the first major increases possibly hitting as early as today.
