Gasoline prices have skyrocketed in Sarnia, jumping by 17 cents a litre over the last two days to over $1.23 a litre at many gas stations. Gasbuddy.com analyst Dan McTeague says the cost could jump by another seven cents a litre this weekend, with Hurricane Harvey getting the blame. Several U.S. oil refineries have shut down, cutting refining output by over 25%. Some of the biggest pipelines in the U.S. that supply Chicago and the northeastern U.S. have shut down or reduced operations because they have nothing to ship. The lack of supply comes as more people hit the road for the long holiday weekend which increases demand.
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