Gasoline prices are expected to reach $ 2.11 or more per liter in parts of Canada this weekend as prices continue to rise, according to Dan McTeague, president of Canadians for Affordable Energy.
“Gas prices will continue to rise in the coming months, affecting all Canadian provinces,” he told CTV News.
He expects prices to reach a record $ 2.14 per liter in the Greater Toronto Area (GTA) and most of southern Ontario on Sunday, and notes that the last record was on May 18, when prices reached $ 2 per liter.
The average gas price in Ontario on Saturday was about 206.6 cents or $ 2.06 per liter, more than last month’s average of 186.1 cents or $ 1.86 per liter and the average last year of 128.2 cents or $ 1.28 per liter, according to the Canadian Automobile Association (CAA). ).
According to Gas Wizard.ca, the price of regular gas in Edmonton will rise to $ 1.87 on Saturday, an increase of nine cents per liter, while the price is expected to rise to $ 1.89 per liter in Calgary, with the same increase.
The highest rate per liter ever seen in Vancouver was $ 2.14, which is currently set at $ 2.34 per liter this weekend.
The current rise in prices comes after months of rising petrol prices in the GTA, due to a shortage of fuel supply, 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 the world’s oil supply, according to the International Energy Agency (IEA), and Western sanctions on Russia could be creating a major market gap without a sufficient alternative. .
Other factors such as post-pandemic demand along with the arrival of summer are causing price increases as people venture outdoors, McTeague says.
Doug Ford’s progressive Conservatives, who won a majority government for a second term, promised during their election campaign that they would temporarily reduce Ontario’s gas tax by 5.7 cents per liter for six months from the start. ‘July 1, but McTeague is not optimistic for more. than a temporary relief.
“I wouldn’t be surprised if prices in Ontario go up to $ 2.25 in the coming summer months,” he said.