Canadians Will Pay Over $1,000 On Gas This Summer Alone Due To Skyrocketing Prices
With no relief in sight.
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