Key Takeaways:
· This weekend, gas prices across the country continued to rise, with drivers in Vancouver warned to expect to pay up to $2.34 per liter at the pumps.
· The biggest spike, 13 cents to $2.24/liter, is expected on St. John’s Sunday. At $1.70 a liter, Edmonton’s prices are likely to be among the lowest.
· According to British Columbia Premier John Horgan, cutting taxes would be a “short-sighted” solution that would only bring a “minimal amount” of help.
Gas prices throughout the country continued to soar this weekend, with drivers in Vancouver warned to expect to pay as much as $2.34 per liter at the pumps.
According to data from the gasoline tracking website GasBuddy, the national average price of regular gas on Saturday afternoon was $1.95 per liter, with provincial averages of $2.15 in Newfoundland as well as Labrador and $2.11 in British Columbia.
Various cities are anticipated to witness major price increases on Sunday, with Vancouver seeing a six-cent increase to a national high of $2.34/liter. Montreal’s average price was expected to rise four cents to $2.15, while Toronto’s average price was expected to rise six cents to $2.09.
“These are mind-numbing, eye-popping prices that… are not sustainable for most Canadians on fixed incomes/middle class,” said Gas Wizard analyst Dan McTeague, the president of Canadians for Affordable Energy, on Saturday.
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“I believe it’s fair to say that most Canadians are taking a beating on this, and it’s not just the people who drive for fun; it’s the people who need to get to work… It will also be long-term.”
The highest jump, 13 cents to $2.24/liter, is expected on St. John’s Sunday. Edmonton’s prices are expected to be among the lowest, at $1.70 per liter.
Many experts blame rising gas prices on the market disruption caused by Russia’s invasion of Ukraine and recovering world demand as COVID-19 restrictions are lifted.
These are variables, but McTeague sees the surge as more of a supply issue that predates the war and is only being exacerbated today.
He urged for a temporary suspension of the carbon tax and an immediate energy refund from Ottawa, pointing out that rising petrol prices had also pushed up the federal GST bill.
“They’re raking it in hand over fist.” “It appears to me that they should at least explore some kind of rebate or at least a method to alleviate, perhaps through a GST rebate, to insulate as well as help those on fixed incomes and, of course, those who are having a difficult time,” said McTeague, a former Liberal member of Parliament.
On Friday, Premier John Horgan of British Columbia said that cutting taxes would be a “short-sighted” approach that would only provide a “small amount” of assistance.
He has urged the finance minister to “put forward a basket of measures” because “this is not a short-term issue.”
Until then, he advised residents to cut travel costs whenever they could.
“We need to do it by all of us making efforts to minimize our spending while also ensuring that we’re all working together.” If you’re heading to a grocery shop and know you have a neighbor who needs anything, ask if you can pick it up for them, so we don’t have to make as many trips,” he said.
“Right now, I encourage folks to consider whether they need to make that journey before getting in the car.”
Source: CTV News
