Motorists in Calgary should expect to see significant price hikes at gas pumps this week, thanks to damage caused by wild weather in Texas. While it won't immediately be known how Hurricane Harvey will affect local gasoline prices, industry analyst Dan McTeague of Gasbuddy.com says Calgary should brace for increases similar to what the industry saw in 2008, when Hurricane Ike shuttered refineries along the Gulf Coast. Harvey is the first hurricane to come ashore in Texas since Ike in 2008, and is the strongest storm to hit the state in nearly 60 years. While McTeague said Alberta doesn't import gasoline from the United States, prices are based upon larger market conditions. "If I see NYMEX and Chicago spots (crude oil prices) popping Monday morning, then it's a safe bet that within 24 hours we'll start seeing prices rise in Calgary."

Source: Daily Sun August 27, 2017 15:00 UTC