Gas Prices Set To Go Up

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It appears the prices at the pumps have bottomed out and will now start to head back up.

That according to Dan McTeague, president of Canadians for Affordable Energy,  who told media that  increases are expected over the next two weeks. “The federal carbon tax, surprisingly, is going to be increased about 50 per cent, so about 2.5 cents a litre. The following week, we shift from winter to summer blends of gasoline, which cost most refineries about four or five cents a litre to produce because there is a material difference. This is a national regulation that’s been in place for some 20, 30 years”, McTeague said.

Prices have already shot up in the Toronto area with an average price of 71 cents a litre (it was 67 cents last week).

Here in the Sault, the average price as of Monday morning is 87.4 cents. The lowest its been in several years.

Comparing Sault Prices to other Northern Ontario cities, North Bay’s average was 84.1, in Thunder Bay as of Monday morning 89.2 cents, while in Sudbury the price was averaging 87.5 a litre.

Analyst say that many factors have contributed to the situation include rail blockades in Canada, the economic impact of the novel coronavirus outbreak and a glut of oil on the market as Saudi Arabia continued to pump more oil.

36 COMMENTS

  1. it was that gas prices went up because the price of a barrel of oil went up, what was the price of gas? when oil was at 20 dollars a barrel? like it is now, huh WTF

  2. Prices around the world for a barrel of oil continue to drop like an anchor in water sitting at around $20 per barrel,storage of refined product is becoming a serious issue because of capacity exceeding demand and nowhere to store it and yet the price per liter is scheduled to go up!! Come on,they think the consumer is as dumb as a stump with their never ending excuses that they continue to roll out only though when prices are set to climb. There is not another country in the world where the price of a liter of gas goes up and down faster than a toilet seat,and why?All it is is corporate and government greed,plain and simple.

  3. Think the glut of oil in the market while Saudi’s continue production dont believe we are anywhere near the bottom as far as price goes….demand in the next 2 to 3 months from COVID-19 will be depressed…silly article…

  4. This was reported last week and they didn’t go up. They’re low now cause we can’t go anywhere. Once the virus has passed the prices will go sky high.

  5. Actually gas was 135 when the carbon tax was issued….and the price of gas immediately went down and hasn’t been that price since….but why let facts get in the way….and don’t forget your provincial gas tax you conveniently forgot to mention…

  6. It must be absolutely killing McGouger energy to have lowered the gas prices for even one day even though the current prices are still beyond what they really should be.

  7. 😂😂😂 “prices are shooting up”….. 2.5 cents + 4-5 cents= 7 cents…… prices will still be under a loonie, so why bitch.. “you people” just need something to wine about. It’s hilarious 😂😂

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