{"id":897808,"date":"2026-09-16T11:02:20","date_gmt":"2026-09-16T11:02:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/897808\/"},"modified":"2026-09-16T11:02:20","modified_gmt":"2026-09-16T11:02:20","slug":"supply-shock-could-see-fuel-prices-double-from-last-years-figures","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/897808\/","title":{"rendered":"\u2018Supply Shock\u2019 Could See Fuel Prices Double From Last Year\u2019s Figures"},"content":{"rendered":"<p>\t\t\t\t&#13;<\/p>\n<p>\t\t\t\t<img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/09\/gas-gasoline-fuel-price-pump-pub-gas-station-2.jpg\" class=\"header-image\" alt=\"'Supply Shock' Could See Fuel Prices Double From Last Year's Figures\"\/><\/p>\n<p class=\"wp-caption-text\">(VOCM News)<\/p>\n<p>A gas price analyst says the world is facing a supply shock because of ongoing conflict in the Middle East and Russia\/Ukraine, and he predicts fuel prices could more than double from where they were last year.<\/p>\n<p>Dan McTeague of Canadians for Affordable Energy says diesel and home heating fuel prices are about to soar.<\/p>\n<p>\u201cDiesel\u2019s $2.74 a litre in St. John\u2019s; furnace oil (is) $2.17. Look for both of those to jump between now and the cold days of winter by about 30 cents a litre. It could be even higher than that, but I don\u2019t know at this point.\u201d<\/p>\n<p>\u201cWe\u2019re dealing with a supply shock; we don\u2019t have enough to go around. We don\u2019t make enough to go around.\u201d<\/p>\n<p>McTeague says the provincial and federal governments are going to have to take action.<\/p>\n<p>\u201cFor many people, the price last year was intolerable; this year, it\u2019s going to be excruciating. I think provincial and federal governments are going to have to do whatever they can to mitigate the impact.\u201d<\/p>\n<p>Fuel Prices Shift Slightly Overnight<\/p>\n<p>Meanwhile, the regulated price of gas is up by just under a cent a litre.<\/p>\n<p>Diesel is up by 1.3 cents a litre on the island and under a cent in parts of Labrador.<\/p>\n<p>Meanwhile, furnace oil is up by 1.11 cents a litre on the island, while stove oil in parts of Labrador is up by less than a cent.<\/p>\n<p>The PUB says the changes are based on the most recently available market data as of the close of business on Monday.<\/p>\n<p>The Board\u2019s next pricing adjustment comes into effect at midnight tonight.<\/p>\n","protected":false},"excerpt":{"rendered":"&#13; (VOCM News) A gas price analyst says the world is facing a supply shock because of ongoing&hellip;\n","protected":false},"author":2,"featured_media":897809,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46,269876,185074,269873,269875,269877,269874,269870,269871,269872],"class_list":["post-897808","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy","tag-listen-to-vocm","tag-news-radio","tag-news-radio-st-johns","tag-st-johns-fm-radio","tag-st-johns-local-radio","tag-st-johns-radio-station","tag-vocm","tag-vocm-590","tag-vocm-radio"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/897808","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=897808"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/897808\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/897809"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=897808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=897808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=897808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}