Gasoline prices will increase for a fourth straight day on Saturday.
According to En-Pro International, the price will rise by 4 cents per litre overnight.
It will put the average price at $1.81/litre at most local stations.
By Saturday morning, prices will have increased by 20 cents/litre this week.
Gas prices have been rising in sync with commodity market prices this week.
Wholesale refined gasoline jumped 12 per cent in reaction to what’s being described as a gasoline shortage on the U.S. Eastern Seaboard, which affects the local market.
Bloomberg reports gasoline supplies in the New York area are 25 per cent below comparable levels last year.
The increase at the pumps comes as ExxonMobil reported a net profit $19.7 million in its third quarter on Friday, its highest profit in its 152-year history, as a result of sky-high profit margins on every litre sold and rising natural gas prices.
-- With files from Patricia D'Cunha and Mike Eppel
