If you have a car, you probably have noticed that gas prices just seem to keep rising and rising these past few months. In fact people were so angry about the continued inflation at the pump that people attempted to start a nationwide gas protest in an effort to bring the price of gas back down to what we've been used to seeing in past years.
Unfortunately, while what goes up must come down, that is definitely not the case for the price of gas this year and it's about to go even higher than we've seen in over a decade.
Right now according to GasBuddy the average price for gas is $1.282 cents a litre, up 17.4% from last year. As well analysts have compared data and noted that oil costs $16 more than it did last year for a barrel, and it's been predicted by those same analysts that the price will spike once again to over $70 USD at some point this year.
What exactly is the cause for this spike in gas prices happening all over the country? It reportedly has to do with the "loonies recent detachment from oil prices." In past years, when the price of oil went up, so did the loonie so everything balanced out, but now with that no longer happening, us Canadians are stuck paying some serious money just to fill our cars with gas.
To make matters even worse, if Alberta ends up slowing down their oil shipments to British Columbia thanks to their ongoing feud, Canadians could see gas prices reaching $2 a litre. As of right now the typical gas price in British Columbia is $1.41 but reached $1.50 a litre just recently.
So what exactly does this all mean for Canadians? The spike is reportedly supposed to impact gas prices this Summer, so maybe consider grabbing some gas tanks and stocking up now? Or maybe we should just give that gas protest a try, no matter how ridiculous it sounds, because at this point it seems that we don't have any other options left to save at the pump.
Source: Huff Post Canada