The relentless rise of gas prices in Canada could mean that residents across the country will be paying a lot more money to fill up this summer than usual .
According to Dan McTeague, an analyst at GasBuddy, the national average gas price is currently around $1.34 per litre, which is over a dollar more than last year. With gas prices usually fluctuating up five to seven cents at the end of every May, there's a likely chance that that national average price could get even higher this summer.
"There's still pretty good odds that prices will head up, with prices possibly reaching $1.40 at times through the summer," McTeague tells Global News.
Calculations conducted by GasBuddy, Global News and CAA reveal that Canadians could be facing additional costs of around $100 to $200 this summer compared to last summer:
- Compact Car —$475 (summer 2017) vs $588 (summer 2018)
- SUV — $779 (summer 2017) vs $965 (summer 2018)
- Pickup truck — $821 (summer 2017) vs $1,017 (summer 2018)
Such calculations are based on an approximate driving distance of $6,500 travelled during the summer season, and average gas prices of $1.09 and $1.35 for 2017 and 2018 respectively.
Needless to say, drivers in Canada should be prepared to dive into their pockets a little deeper this summer!
Source: Global News