Gas Prices Continue to Climb

Thursday, 25 February 2021 04:38

By Tami Jeanneret

Have you been wondering why the price of gas has gone up at the pumps?

Over the past week prices have increased on both sides of the border to the highest levels we’ve paid in the last year.

Gas is averaging around $2.66 cents a gallon in Buffalo and $1.17 a litre in Niagara.

Triple A explains it all comes down to supply and demand.

The automotive agency says last year when factories shut down and we weren't driving to work in large numbers, it drove the price of oil down into negative territory.

So OPEC and oil producing nations cut production.

Currently demand is up, but the supply has been kept low and will probably remain that way for a while as big oil works to recoup its losses.

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Gas Prices Continue to Climb

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