Jul 04, 2012
By Jane Brown
There could be some long lineups at the gas pumps today. Dan McTeague from tomorrowsgaspricetoday.com called Zoomer Radio News to let you know that regular gas is going up nearly 4 cents a litre at midnight. He says the cost of regular will increase from $1.20.1 a litre today to $1.23.8 tomorrow.
McTeague says, “A lot of this increase is due to overspeculation of the markets with respect to the situation in the embargo in Iran. And some of it is due to the potential for stimulating the European, Chinese and American economies in the next few weeks, which means demand will rise as people find new jobs.” The gas price guru says this is just a theory and the fact is there’s plenty of supply in the system and very weak demand.