Gas Prices In Canada Are On The Rise & Here's What You Should Know Before Filling Up

What are the gas prices in Canada like today?

As of Wednesday morning, gas prices seem to have inched upwards in Alberta, B.C., New Brunswick, Newfoundland and Labrador, Ontario, P.E.I., Quebec and Saskatchewan.

The only provinces that have seen a decline in prices are Nova Scotia, where today's rate is 157.2 cents per litre, and Manitoba, with a current price of 184.9 cents per litre.

The province dealing with the highest prices at the moment is B.C. Here, today's average is a whopping 228.5 cents per litre, up from yesterday's figure of 224, according to the CAA.

Within the province, prices seem to be especially high in Victoria, with the rate reaching 237.4 cents per litre. In Vancouver, the current rate is 236.3 cents per litre. Ouch.

Saskatchewan is also seeing high costs for fuel — although nowhere as high as B.C.'s — at 180 cents per litre. It's still a jump from yesterday's rate of 174.8 cents per litre, though.

In Alberta, average prices are currently 161.1 cents per litre, up from yesterday's figure of 158.7.

Newfoundland and Labrador is averaging 168.6 cents per litre at the moment, a marginal increase from yesterday when prices were 167.9 cents.

Meanwhile, in Ontario, the rate is currently 152.4 cents per litre, which is 2 cents up from yesterday's price.

What are Canada's gas prices tomorrow?

According to Gas Wizard, Canadians could expect to see even further increases at the pumps in the coming days.

The gas price prediction website is anticipating increases in most major cities tomorrow, on October 6.

This includes Toronto, Montreal and Vancouver. Those living in Vancouver should take note that it's predicted to hit 240.9 cents per litre on Thursday. That'll burn a hole though the wallet, alright!

Why are gas prices so high at the moment?

There have been a couple of months of relief following gas prices peaking at $2 in Canada earlier this year.

However, at the moment, a recent surge in prices has caused overall costs skyrocket, especially in B.C. cities.

There are many reasons understood to have caused the recent surge, but the most significant right now is likely related to a shutdown of major refineries in the U.S., leading to a reduced supply.

The Phillips 66 refinery in Washington, where B.C. imports gas from, shut down for maintenance early this month, per CBC. Another in Toledo, Ohio, also closed due to a fire.

There are also factors such as a renewed demand for oil as more people drive and book travel post-pandemic, as well as the invasion of Ukraine which led to sanctions against Russia, one of the world's largest oil producers.