The result has been an instant five-cent rise in gas prices in Toronto, for example - and McTeague is predicting a further jump of nine cents on Saturday.
"There's definitely a couple factors at play here", said McTeague.
It's created to protect the investment of gas retailers and ensure they don't have to sell their gas for less than what they bought it for.
The online gas price monitoring site essencemontreal.com is showing the $1.35 price in several Montreal neighbourhoods, including Ahuntsic, Villeray, Saint-Henri, Saint-Léonard and downtown. With the long weekend coming up, they can't afford to not be making money.
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Major gasoline refineries in the USA were shut down by Harvey, which also caused the temporary shutdown of the Colonial Pipeline - what McTeague calls the "aortic artery" of gasoline transportation for the US Atlantic Coast. Now there is no indication the refineries have been damaged by the hurricane or resulting flooding. "The problem is the flooding". A better picture of impact on overall supply will start to emerge early next week, although oil futures contracts are already pointing to a price decline of about 2 cents starting on Sunday, he said.
McKnight said he thinks gasoline prices will drop back by two or three cents per litre next week throughout Canada.
The closure of the Colonial Pipeline on Thursday, on top of major refineries including the largest, Motiva in Port Arthur, has led to exploding gas prices, McTeague said. "It depends on how damaged the refineries are and how quickly they can be running again".
Retail prices in New Brunswick are largely based on what the stock market in NY says.