The morning of Tuesdsay September 28, 2015 saw an increase in Calgary gas prices to as much as $1.16 per litre. At some stations the cost has risen by over ten cents in the last fourty eight hours. The spike was anticipated due to the recent forecast of a slow down in U.S. oil production.
Globally crude oil production continues to flow as major market producers are attempting to protect their place in the industry. One report predicts the international oil market to remain oversupplied throughout
2016. Oil prices are expected to continue to rise and fall as the rate of exports remains unsteady.