Home World Canada Gasoline prices continue to rise in Canada, with more increases expected next week

Gasoline prices continue to rise in Canada, with more increases expected next week

Gasoline prices continue to rise in Canada, with more increases expected next week




Brett Bundale, The Canadian Press



Posted on Sunday June 5, 2022 at 4:07 pm EDT





Last Updated Sunday, June 5, 2022 6:01 pm EDT

Gasoline prices continued to trend higher across much of Canada over the weekend and experts are warning of further increases this week.

The national average price of gasoline rose to about $2.06 on Sunday, nearly 3 cents higher than a day earlier and 11 cents higher than a week ago, according to the Canadian Automobile Association.

“We’re seeing gasoline price records being broken repeatedly across the country,” said Dan McTeague, president of Canadians for Affordable Energy.

On Sunday, Vancouver hit a mind-blowing price of nearly $2.37 a liter over the weekend, while Montreal saw gasoline prices just under $2.24 a liter, according to Gas Wizard, which is run by McTeague. .

St. John’s came in at $2.23 and Toronto came close to $2.15 for a liter of regular unleaded gasoline.

Fuel prices are expected to rise another three cents in the coming days, he said, with average gasoline prices forecast to hit $2.12 a liter nationwide by Monday night.

In the Atlantic provinces, where gas prices are regulated, McTeague said regulators could use so-called break clauses to introduce mid-week price increases.

Gasoline prices have risen rapidly over the past year as the Russian invasion of Ukraine worsened global supply shortages.

Prices have also been pushed up by strong demand as the economy reopens and a busy travel season kicks off.

“Prices continue to rise, reflecting summer demand,” McTeague said. “Fuel demand remains very robust.”

Rising gasoline prices are compounding the economic cost of inflation for Canadians.

Higher fuel prices have a knock-on effect throughout the economy, driving up the prices of most goods and hurting consumer confidence.

“Energy prices have a cascading effect on the price of food and other goods,” McTeague said.

In a statement, CAA offered Canadians tips for improving the fuel economy of any car.

The organization said motorists should drive conservatively and avoid harsh starts, rapid acceleration and hard braking, which can reduce fuel economy by 15 to 30 percent at highway speeds and by 10 to 40 percent at highway speeds. in intermittent traffic.

Additionally, CAA said drivers should minimize so-called cold engine running, which means drivers should start the engine and then drive the car normally to warm it up.

CAA said that observing speed limits, removing unnecessary items from your vehicle, using cruise control to minimize speed fluctuations on highways and avoiding excessive idling also helps reduce fuel consumption.

This report from The Canadian Press was first published on June 5, 2022.