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"Virtually zero chance" of gas ever dropping below $1 per litre in Canada again, new report says

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Canadians aren’t likely to see gas cost less than a dollar a litre in the future, according to a price-monitoring company.

GasBuddy, which crowdsources prices at the pump across the country, said in a release on Monday that there is “virtually zero chance that gas prices will ever fall below $1 per litre again.”

Patrick De Haan, petroleum industry analyst at the company, pointed mostly at the federal carbon price, which rose to $80 a tonne on April 1, up from $65 a tonne. That translated to a rise in gasoline prices of about 3.3 cents per litre on average Monday.

However, De Haan also noted geopolitical strife like Russia’s war on Ukraine, more expensive summer gas, increased demand amid summer travel, and maintenance at refineries also push prices up.

For more info, please go to https://globalnews.ca/news/10397796/carbon-price-gas-canada/

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Category
U.S. & Canada
Tags
global news, Canada gas prices, Carbon tax
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