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Rising Gas Prices: Consumers Shouldn't Expect Any Relief Anytime Soon

Person pumping gas in vehicle

Gasoline prices have recently increased by an average of two cents per litre across Canada, with experts predicting further hikes as spring approaches.

According to data from Kalibrate, the average cost per litre of regular gasoline rose from $1.578 to $1.598 between March 7 and March 14. Notably, Whitehorse saw the largest weekly gain at 10 cents per litre, while Peterborough, Ont., experienced the biggest decline at 8.2 cents.

Roger McKnight, chief petroleum analyst at En-Pro International, anticipates prices to continue rising due to factors such as the more expensive summer blend and tight crude and refined product inventories.

McKnight also highlights the upcoming April 1 increase in the federal carbon tax, further impacting consumers.

Gasoline prices are expected to rise in the United States as well.

Next week, Alimentation Couche-Tard (ATD.TO), an international gas station giant operating under brands like Circle K and Couche-Tard, will report its latest financial results.

Stay updated on gas price fluctuations and market trends by following Yahoo Finance Canada. For more information and local pricing details, refer to the table provided.


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