CP24\u2019s Courtney Heels has the latest on the pain at the pumps, despite an expected drop in oil prices overnight. <\/p>\n
The price of diesel could soon break a record in Canada as oil markets continue to see volatility. <\/p>\n
\u201cWe continue to see oil markets responding to the situation (in Iran) as it unfolds. Last night, U.S. President Donald Trump giving a speech and certainly oil markets pushing much higher after there is really little sign of de-escalation or addressing the Strait of Hormuz,\u201d Patrick De Haan, the head of petroleum analysis at GasBuddy, told CP24 on Thursday morning. <\/p>\n
\u201cEverything is focused on the strait, whether or not the strait can be reopened, whether or not those ships that carry 20 million barrels of oil every day through the strait are allowed through and last night\u2019s speech just highlighted that doesn\u2019t look like that\u2019s going to be a possibility.\u201d <\/p>\n
In the GTA on Thursday, gas prices hit $1.84 a litre, while diesel rose to $2.20.<\/p>\n
De Haan said diesel prices could set a new record this weekend as it is expected to surpass $2.25 in the next 48 hours. <\/p>\n
\u201cGasoline at about $1.80 is still about 40 cents a litre lower than its record. I don\u2019t necessarily expect that to be imminently broken but if the problem isn\u2019t solved in the weeks ahead, we could get closer to that level,\u201d he added. <\/p>\n
\u201cIt has been the most volatile year for the price of oil in over 20 years of tracking this.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"CP24\u2019s Courtney Heels has the latest on the pain at the pumps, despite an expected drop in oil…\n","protected":false},"author":2,"featured_media":577806,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[712,45,49,48,46],"class_list":["post-577805","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-apple-news","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/577805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=577805"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/577805\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/577806"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=577805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=577805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=577805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}