Canadas wildfires may impact gas prices: heres how [Video]

As the Canadian wildfires continue to rage, some oil production in the country, a U.S. supplier, has been forced to shut down, raising concerns national gas prices may rise.

Around 95 fires were out of control in Canada on Monday afternoon, with more than half burning in the province of Alberta, according to the Canadian Interagency Forest Fire Centre.

Bloomberg reports the fires in Alberta have shut down nearly 350,000 barrels of daily heavy crude oil production, roughly 7 percent of Canada’s oil output.

Patrick De Haan, head of petroleum analysis at GasBuddy, told The Independent that if the oil production shutdown continues, “it could be a bit more problematic to [U.S.] refineries and it could be more impactful to things like gasoline.”