If you thought gas prices in Canada were already expensive, well, unfortunately, it's about to get even worse. Get ready for a wildly expensive time at the gas stations this summer. Gas prices in Canada are expected to increase by 15 cents per litre by summer – as if they weren't much more expensive than normal already.
Canadians across the country could be looking at an increase of up to 15 cents per litre for gas prices by this upcoming summer, according to The Weather Network.
Gas prices in Canada already reached a record-breaking high earlier this month in April. Vancouver saw prices increase to $1.67 per litre, which is the highest gas prices that a major North American city has ever seen. Prices in Ontario significantly jumped last week too, with a large part due to the new federal carbon tax.
Unfortunately, the increased gas prices will affect you more than the amount you have to pay to fill up your car. In order words, get ready for an expensive summer.
"More than six-cent-a-litre jump in the price of diesel will likely impact the cost of nearly everything, from food stuffs to commodities, according to analysts," said The Weather Network's Chris St. Clair. "[This is] because most trucks and transportation systems utilize diesel for fuel."
Gas prices have already increased in Canada for over 20 cents per litre since the beginning of 2019, according to GasBuddy in a press release. Now, unfortunately, it doesn't look like any relief is coming soon.
The increased gas prices that have hit Canada recently and will continue to do so are due to a variety of factors. The rising price of world oil costs, seasonal factors, increased demand for diesel and more all contribute to the heightening costs, according to The Weather Network.
"In addition to rising carbon taxes, factors pushing up gasoline prices so far this year include a 35% rise in the price of oil since Christmas and a weaker Loonie in comparison to the U.S. dollar," says GasBuddy in their press release.
Several provinces have seen increased gas prices due to the new federal carbon tax – Ontario, New Brunswick, Manitoba and Saskatchewan. However, despite this, the rising gas prices have hit BC the hardest, where $1.60 per litre is forecasted to be the "new normal" through spring, summer and even fall.
If you want to save money, it looks like it might be better to take public transit or to bike for your commute this summer.