Gasoline prices are expected to reach $ 2.11 or more per liter in some parts of Canada this weekend as prices continue to rise, according to Dan McTeag, president of Canadians for Affordable Energy.
“Gas prices will continue to rise in the coming months and this will hit all provinces in Canada,” he told CTV News.
He predicts that prices will reach a record $ 2.14 per liter by Sunday in the Greater Toronto (GTA) region and most of southern Ontario, noting that the last record was on May 18, when prices reached $ 2 per liter.
The average price of gas in Ontario on Saturday was about 206.6 cents or $ 2.06 per liter, compared to last month’s average of 186.1 cents or $ 1.86 per liter and last year’s average of 128.2 cents or $ 1. , 28 per liter, according to the Canadian Automobile Association (CAA).
According to Gas Wizard.ca, the price of ordinary gas in Edmonton will rise to $ 1.87 on Saturday, rising nine cents a liter, while the price is expected to jump to $ 1.89 a liter in Calgary, with the same increase.
The highest rate per liter observed so far in Vancouver was $ 2.14, which is currently expected to reach $ 2.34 per liter this weekend.
The current rise in prices comes after months of rising gasoline prices in the GTA due to fuel shortages, along with a tightening of global energy supply, exacerbated by sanctions imposed on Russia for its invasion of Ukraine.
Last year, Russia accounted for 14% of global oil supplies, according to the International Energy Agency (IEA), and Western sanctions against Russia could create a significant market gap without a sufficient alternative.
Other factors, such as demand after the pandemic, along with the coming of summer, are leading to higher prices as people venture outdoors, McTeague said.
Doug Ford’s Progressive Conservatives – who won a majority government for a second term – promised during their campaign that they would temporarily reduce the gas tax in Ontario by 5.7 cents a liter in the six months from July 1, but McTeague did not. optimistic for more than temporary relief.
“I wouldn’t be surprised if prices in Ontario reach $ 2.25 in the coming summer months,” he said.
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