Impact of Colonial Pipeline hack on Canadian gasoline prices 'negligible': analyst

TORONTO — An expert is reassuring Canadians to not be worried about a spike in gasoline prices after a cyberattack on a critical U.S. pipeline.

The Colonial Pipeline, which delivers about 45 per cent of the fuel used along the Eastern seaboard, shut down Friday after a ransomware attack, reportedly causing gasoline prices in some places in the U.S. to climb.

article continues below

But GasBuddy oil and gasoline prices analyst Patrick De Haan says this should have a negligible impact on prices throughout Canada and most of the U.S.

De Haan says the hack has caused a delivery issue, not a gasoline production issue, and will not have much material impact on prices.

In a tweet, GasBuddy warns against panic-buying, saying that people don't need to fill up on gas if they don't immediately need it.

It says a sudden surge in demand will only drive prices up and make the situation worse.

— with files from The Associated Press

This report by The Canadian Press was first published May 11, 2021.

© Copyright Weyburn Review

Community Event Calendar


Find out what's happening in your community and submit your own local events.

Popular Weyburn News