The Vancouver-based company that makes much of the world’s methanol — the main ingredient in windshield washer fluid — has had to curtail production in Chile.
The company is having trouble getting natural gas, another key ingredient, from neighbouring Argentina because the country has imposed a hefty export tax.
Methanex is now posting a price of $832 US per metric tonne, up from a low of $309 earlier this year.
In October, the company reported a severe shortage of methanol because of closed plants throughout the industry — including its own in Chile — combined with strong demand. It’s since restored some natural gas supply.
Consumers haven’t noticed the impact yet.
But retailers will soon be running out of inventory and buying — and selling — the product at new, sky-high prices, Paquette said.