If You’re Looking For Cheaper Gas In 2018 You Should Prepare Yourself For An Unpleasant Year
Many might say that it has been beyond cold in Northern Maine and Western New Brunswick. This kind of cold doesn't go easy on the pocketbook.
Some forecasters are saying that because of spot pricing more than tripling in New England this year, it has caused our part of the world to be the priciest market in America.
With Christmas and other holidays in the rearview mirror, the added cost of heating fuel is financially killing working class families in the region.
Last month, John Burruso, Director of natural gas trading at Con Edison Energy said,
"This is truly a gas demand driven event because the temperatures are so cold and it's still December, it's not prepared."
Burruso added, "Gas prices for tomorrow are extremely volatile and high."
According to GasBuddy.com, gas prices in Maine rose from $2.42 a gallon to $2.62 a gallon in Maine.
Dan McTeague, Senior Petroleum Analyst for Gasbuddy.com Canada says that after several years of falling investments in oil exploration, more than likely 2018 will be the first year when we begin to see the full effects of reduced capital expenditures of forwarding supplies.
Basically, as the demand for diesel and gas becomes more, peak oil production is likely to ensure. Therefore, McTeague warns, we should prepare ourselves for an unpleasant year at the pumps.