Gas prices expected to rise this summer in Canada
Fuel costs in Canada are moving to two-year highs, and could be going higher, as stated by industry watchers.
In Toronto, gas costs are at 137.9 pennies a liter, the most noteworthy they’ve been in two years, as stated by Tommorowsgaspricetoday.com. At the start of the year, gas was 10 pennies a liter less expensive.
In Vancouver, a load up costs 149.1 pennies a liter, 20 pennies more than at the start of the year.
- Interactive: Gas costs crosswise over Canada
- Inflation slips to 1.1% in February as gas costs fall
Doug Porter, head economist at the Bank of Montreal, says the climbing cost of raw petroleum is a piece of the reason gas costs are going up.
So far not long from now, the cost of a barrel of oil has climbed more than five for every penny, “and after that when you attach an alternate three for every penny drop in the Canadian dollar in the not so distant future, it leaves oil costs up more than eight for every penny in 2014,” Porter said in an email to CBC News.
Raw petroleum is the most critical part of fuel costs. As stated by a report by industry bunch M.j. Ervin & Associates, unrefined petroleum made up 53 for every penny of the expense of gas in March.
Gas prices across Canada
Vancouver: 149.1 cents/l
Calgary: 124.9 cents/l
Winnipeg: 129.9 cents/l
Toronto: 137.9 cents/l
Ottawa: 136.7 cents/l
Montreal: 142.4 cents/l
Halifax: 138.7 cents/l
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