Impact of Colonial Pipeline hack on Canadian gasoline prices ‘negligible’: analyst
Published May 11, 2021 at 6:17 pm
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.
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 Pressinsauga's Editorial Standards and Policies