Prices at the Pumps – February 28, 2024 [Video]

In this installment of “Prices at the Pumps,” your trusted energy analyst Dan McTeague dives into the latest fuel price trends affecting Newfoundland and Labrador and the rest of the Atlantic provinces.

The episode takes a deeper look into the stability of oil prices in the U.S. market amidst refinery transitions from winter to summer blends. Dan breaks down the complex interplay between oil production, market expectations, and the confusing behavior of energy traders who often overlook the fundamentals.

As OPEC+ countries contemplate extending their output cuts, Dan forecasts a potential surge in oil prices, warning consumers of the financial pinch at the pumps, especially with looming carbon tax hikes and seasonal fuel transitions.

The conversation shifts gears to the electric vehicle (EV) industry, where recent headlines signal a retreat by major automakers from their EV plans. Dan examines the underlying skepticism and economic pressures confronting the EV market, suggesting a reality check for both manufacturers and policymakers.

For those seeking to navigate the energy sector’s currents and the impact on their wallets, this episode is a beacon of clarity.

Stay informed and engaged with Dan’s expertise by following him on “X” (Twitter) @GasPriceWizard, visiting Canadians for Affordable Energy at affordableenergy.ca, and predicting gas prices at gaswizard.ca.

For more Atlantic Canadian news, visit https://www.saltwire.com

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