Latest news with #PatrickDeHaan
Yahoo
2 days ago
- Business
- Yahoo
Canada's wildfires may impact gas prices: here's how
As the Canadian wildfires continue to rage, some oil production in the country, a U.S. supplier, has been forced to shut down, raising concerns national gas prices may rise. Around 95 fires were out of control in Canada on Monday afternoon, with more than half burning in the province of Alberta, according to the Canadian Interagency Forest Fire Centre. Bloomberg reports the fires in Alberta have shut down nearly 350,000 barrels of daily heavy crude oil production, roughly 7 percent of Canada's oil output. Patrick De Haan, head of petroleum analysis at GasBuddy, told The Independent that if the oil production shutdown continues, 'it could be a bit more problematic to [U.S.] refineries and it could be more impactful to things like gasoline.' Canada is the fourth-largest oil producer in the world and a major supplier to the U.S. The American Fuel & Petrochemical Manufacturers, a major trade association, said in a blog post from January that 25 percent of crude oil in U.S. refineries comes from Canada. Refineries need heavy crude oil to run and make petroleum products such as gasoline. The trade association said in another blog post, 'Nearly 70% of U.S. refining capacity runs most efficiently with heavier crude.' De Haan told MarketWatch in March, 'Canada's oil has always been there, and it's always been there at a discount.' The fires have displaced thousands and are causing air quality alerts in several U.S. states. The wildfires have now threatened the country's oil output, potentially affecting the national average gas price, which currently stands at $3.09 per gallon, according to GasBuddy. Cenovus Energy Inc., a Canadian oil producer, shut down output on May 29, according to Bloomberg. It said Sunday that it expects to resume operations in the 'near term.' Two other Canadian oil producers, MEG Energy Corp. and Canadian Natural Resources Ltd., have also temporarily ceased operations. De Hann explained in a phone interview with The Independent on Monday that much of the crude oil in U.S. refineries in the Midwest and Rocky Mountains comes from Canada. ' So, a shutdown in the flow of oil, or at least a partial shutdown in the flow of oil from Canada, could be impactful to refineries down in these regions,' he said. De Hann said refineries usually have at least several days of crude oil stored, 'but if this hit to Canadian oil production continues for potentially more than a week or two, and/or if it worsens in terms of the amount of oil shut in, it could be a bit more problematic to these refineries and it could be more impactful to things like gasoline.' ' I don't really see any impact to prices, but we will have to see,' the expert added. De Hann warned since there's less Canadian oil available, 'it's likely narrowing the Canadian crude oil discount that generally we see, but that's not really going to be too impactful to motorists.' The U.S. still makes 60 percent of its crude oil, according to American Fuel & Petrochemical Manufacturers, and it gets the other 17 percent of its oil from other countries. There were 189 active fires in Canada as of Monday afternoon, according to the Canadian Interagency Forest Fire Centre. Most are in British Columbia and Alberta. The fires have burned through roughly 1.7 million acres across Saskatchewan and Manitoba, The New York Times reported, citing the center. Two people were killed in a wildfire that burned through a small Manitoba town, the Times reported. CBS reported on Sunday that more than 25,000 residents have been evacuated over the fires and smoke was worsening air quality in Canada. The fires have also caused air quality alerts in Minnesota, Michigan and South Carolina, which remained in place Monday, per NBC News. Pollutants can cause health risks, especially for those with a respiratory disease such as asthma.
Yahoo
3 days ago
- Automotive
- Yahoo
Drivers have new option for gas as Sheetz opens new location
Drivers will have a new option when they fill their vehicle with gas. [DOWNLOAD: Free WHIO-TV News app for alerts as news breaks] News Center 7's Xavier Hershovitz is on Pump Patrol today. He is previewing the grand opening of the new Sheetz gas station in West Carrollton this morning on News Center 7 Daybreak from 4:25 a.m. until 7 a.m. TRENDING STORIES: District reacts to death of recent high school graduate killed in crash Car crashes into Ohio marijuana dispensary, leaving large hole Air Quality Alert in effect for parts of region today As previously reported by News Center 7, gas prices across the Miami Valley are 16 cents cheaper compared to last week. Prices range from $3.19 a gallon to $2.57 a gallon, according to gas experts. Patrick De Haan of says these prices will not last throughout the summer. '(It) could be today, next couple of days, certainly it'll happen at some point this week,' he said. The new Sheetz gas station will officially open on South Alex Road in West Carrollton. This will be Sheetz's 10th location in the Dayton area. Hershovitz says there will be giveaways and prizes, including a $2,500 Sheetz gift card. It could help people fill up their tanks. 'I used to work in Columbus, so driving, I was filling the gas tank a couple of times a week,' said Scott Dennull. 'That's when it was a little higher.' [SIGN UP: WHIO-TV Daily Headlines Newsletter]
The Independent
3 days ago
- Business
- The Independent
Canada's wildfires may impact gas prices: here's how
As the Canadian wildfires continue to rage, some oil production in the country, a U.S. supplier, has been forced to shut down, raising concerns national gas prices may rise. Around 95 fires were out of control in Canada on Monday afternoon, with more than half burning in the province of Alberta, according to the Canadian Interagency Forest Fire Centre. Bloomberg reports the fires in Alberta have shut down nearly 350,000 barrels of daily heavy crude oil production, roughly 7 percent of Canada's oil output. Patrick De Haan, head of petroleum analysis at GasBuddy, told The Independent that if the oil production shutdown continues, 'it could be a bit more problematic to [U.S.] refineries and it could be more impactful to things like gasoline.' Canada is the fourth-largest oil producer in the world and a major supplier to the U.S. The American Fuel & Petrochemical Manufacturers, a major trade association, said in a blog post from January that 25 percent of crude oil in U.S. refineries comes from Canada. Refineries need heavy crude oil to run and make petroleum products such as gasoline. The trade association said in another blog post, 'Nearly 70% of U.S. refining capacity runs most efficiently with heavier crude.' De Haan told MarketWatch in March, 'Canada's oil has always been there, and it's always been there at a discount.' The fires have displaced thousands and are causing air quality alerts in several U.S. states. The wildfires have now threatened the country's oil output, potentially affecting the national average gas price, which currently stands at $3.09 per gallon, according to GasBuddy. Cenovus Energy Inc., a Canadian oil producer, shut down output on May 29, according to Bloomberg. It said Sunday that it expects to resume operations in the 'near term.' Two other Canadian oil producers, MEG Energy Corp. and Canadian Natural Resources Ltd., have also temporarily ceased operations. De Hann explained in a phone interview with The Independent on Monday that much of the crude oil in U.S. refineries in the Midwest and Rocky Mountains comes from Canada. ' So, a shutdown in the flow of oil, or at least a partial shutdown in the flow of oil from Canada, could be impactful to refineries down in these regions,' he said. De Hann said refineries usually have at least several days of crude oil stored, 'but if this hit to Canadian oil production continues for potentially more than a week or two, and/or if it worsens in terms of the amount of oil shut in, it could be a bit more problematic to these refineries and it could be more impactful to things like gasoline.' ' I don't really see any impact to prices, but we will have to see,' the expert added. De Hann warned since there's less Canadian oil available, 'it's likely narrowing the Canadian crude oil discount that generally we see, but that's not really going to be too impactful to motorists.' The U.S. still makes 60 percent of its crude oil, according to American Fuel & Petrochemical Manufacturers, and it gets the other 17 percent of its oil from other countries. What to know about the Canadian wildfires There were 189 active fires in Canada as of Monday afternoon, according to the Canadian Interagency Forest Fire Centre. Most are in British Columbia and Alberta. The fires have burned through roughly 1.7 million acres across Saskatchewan and Manitoba, The New York Times reported, citing the center. Two people were killed in a wildfire that burned through a small Manitoba town, the Times reported. CBS reported on Sunday that more than 25,000 residents have been evacuated over the fires and smoke was worsening air quality in Canada. The fires have also caused air quality alerts in Minnesota, Michigan and South Carolina, which remained in place Monday, per NBC News. Pollutants can cause health risks, especially for those with a respiratory disease such as asthma.
Yahoo
7 days ago
- Business
- Yahoo
Gas prices 'among the cheapest in nearly a decade' to start summer, analyst says
Canada's gas price average fell by 5.4 cents per litre of regular fuel this week, according to data from Kalibrate. The break from recent gains mirrors price action in the United States, where a leading analyst says rates at the pump are "among the cheapest in nearly a decade" when adjusting for inflation. The Canadian average price fell from $1.492 per litre to $1.438 between May 22 and May 29, led by declines in Vancouver, Kelowna, B.C., and Sarnia, Ont. At this time last year, the national average price was $1.688. The U.S. Memorial Day holiday is considered the unofficial start to the summer driving season in North America. Patrick De Haan, head of petroleum analysis at GasBuddy, says while prices did not fall as much as expected, the holiday was still one of the most affordable for drivers since 2021. "When adjusted for inflation, [it was] among the cheapest in nearly a decade,' he wrote in a blog post. 'As we move into the heart of summer, I believe we're likely to see a relatively stable stretch for gas prices as refinery maintenance wraps up." De Haan sees OPEC+ production commentary and growing uncertainty around the looming hurricane season in the U.S. Gulf region shaping prices in the weeks ahead. According to a report from Reuters, OPEC+ members may discuss a larger output increase in July compared to gains prior months at its meeting on Saturday. The potential additional supply could weigh on benchmark oil prices. Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city. (All figures in CAD cents) Location May. 22 May 29 Price Change Canada Average (V) 149.2 143.8 -5.4 WHITEHORSE 161.9 161.9 0 VANCOUVER* 183 167 -16 VICTORIA 176.2 181.5 5.3 PRINCE GEORGE 136.2 140.9 4.7 KAMLOOPS 150 152.9 2.9 KELOWNA 152.7 142.6 -10.1 FORT ST. JOHN 149.9 145.4 -4.5 ABBOTSFORD 172.4 160.8 -11.6 YELLOWKNIFE 144.7 134.9 -9.8 CALGARY* 137.2 131 -6.2 RED DEER 134.3 134.5 0.2 EDMONTON 134.9 130.7 -4.2 LETHBRIDGE 124.7 124.6 -0.1 LLOYDMINSTER 130.6 133.5 2.9 GRANDE PRAIRIE 131.1 137.9 6.8 REGINA* 134.9 134.8 -0.1 SASKATOON 135.6 135.6 0 PRINCE ALBERT 132.2 132.3 0.1 MOOSE JAW 135.7 135.7 0 WINNIPEG * 134.1 131.7 -2.4 BRANDON 127.6 131.7 4.1 CITY OF TORONTO* 139.4 135.4 -4 BRAMPTON 139.1 134.9 -4.2 ETOBICOKE 138.9 134.9 -4 MISSISSAUGA 138.8 134.1 -4.7 NORTH YORK 139.6 135.5 -4.1 SCARBOROUGH 139.4 135 -4.4 VAUGHAN/MARKHAM 139.3 135.1 -4.2 OTTAWA 138.9 133.2 -5.7 KINGSTON 132.6 128.8 -3.8 PETERBOROUGH 131.1 126.8 -4.3 WINDSOR 138.3 133.1 -5.2 LONDON 139.7 135.5 -4.2 SUDBURY 136.7 138.8 2.1 SAULT STE MARIE 128.3 128.3 0 THUNDER BAY 138.8 138.3 -0.5 NORTH BAY 131.4 136.8 5.4 TIMMINS 146.9 144.7 -2.2 HAMILTON 136.2 131.8 -4.4 ST. CATHARINES 135.9 129.8 -6.1 BARRIE 138.7 134.5 -4.2 BRANTFORD 132.8 128.4 -4.4 GUELPH 138.2 134.8 -3.4 KITCHENER 137.4 133.6 -3.8 OSHAWA 138.6 134.4 -4.2 SARNIA 134.8 124.4 -10.4 MONTRÉAL* 163.6 159.3 -4.3 QUÉBEC 156 155.3 -0.7 SHERBROOKE 152.8 152.3 -0.5 GASPÉ 157.6 157.4 -0.2 CHICOUTIMI 147 145.5 -1.5 RIMOUSKI 151.4 151.4 0 TROIS RIVIÈRES 154.6 151.8 -2.8 DRUMMONDVILLE 152.3 150.8 -1.5 VAL D'OR 159.6 159.6 0 GATINEAU 144.7 143.2 -1.5 SAINT JOHN* 143 144.2 1.2 FREDERICTON 144.7 145 0.3 MONCTON 143.8 144.4 0.6 BATHURST 143.5 142.3 -1.2 EDMUNDSTON 142.6 144 1.4 MIRAMICHI 144.9 146.2 1.3 CAMPBELLTON 143.1 146.3 3.2 SUSSEX 143.3 143.7 0.4 WOODSTOCK 144.8 146.2 1.4 HALIFAX* 145 145 0 SYDNEY 146.9 146.9 0 YARMOUTH 146 146 0 TRURO 146.1 146.1 0 KENTVILLE 145.5 145.5 0 NEW GLASGOW 146.1 146.1 0 CHARLOTTETOWN* 151.9 150.8 -1.1 ST JOHNS* 151.9 153.5 1.6 GANDER 155.7 157.3 1.6 LABRADOR CITY 159.1 160 0.9 CORNER BROOK 152.8 154.6 1.8 GRAND FALLS 155.7 157.3 1.6 SOURCE: KALIBRATE • All figures in CAD cents (*) Denotes markets used in Volume Weighted Canada Average Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Gas prices in area decline slightly over past week
Gas prices at Meadville-area pumps dipped by about 4 cents per gallon over the past week to average $3.56 on Tuesday. While prices decreased in the area, the average price in the state went unchanged in the last week. Prices in Pennsylvania averaged $3.28, according to GasBuddy's survey of 5,269 stations. Prices in Pennsylvania are 5.4 cents per gallon lower than a month ago and 47.8 cents per gallon lower than a year ago. According to price reports, the station in Pennsylvania with the cheapest gas had it priced at $2.79 while the most expensive was $4.39. The national average price of gasoline also was unchanged in the last week, averaging $3.13. The national average is up 3.1 cents per gallon from a month ago and is 43 cents per gallon lower than a year ago. 'While the national average didn't fall quite as far as anticipated for Memorial Day, it was still one of the most affordable since 2021 — and, when adjusted for inflation, among the cheapest in nearly a decade,' said Patrick De Haan, head of petroleum analysis at GasBuddy. 'As we move into the heart of summer, I believe we're likely to see a relatively stable stretch for gas prices as refinery maintenance wraps up. Don't expect the national average to rise above $3.30 per gallon, nor drop much below $3 for now. While refining issues on the West Coast are beginning to ease, several factors could still influence prices in the weeks ahead — including growing uncertainty around the upcoming hurricane season.' Prices from around the region: • Andover, Ohio: Average price is $3.06 per gallon. • Ashtabula, Ohio: Prices as low as $2.94 per gallon. • Conneaut Lake: Average price is $3.55 per gallon. • Edinboro: Average price is $3.59 per gallon. • Erie: Average price is $3.31 per gallon, with prices as low as $3.09. • Mercer: Average price is $3.50 per gallon. • New Castle: Average price is $3.40 per gallon. • Oil City: Average price is $3.56 per gallon. • Pittsburgh: Average price is $3.49 per gallon. • Warren: Average price is $3.70 per gallon. • Waterford: Prices as low as $3.09 per gallon.
