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Gas Prices Are Relentlessly Climbing Across Canada
If you're someone who doesn't drive, count yourself lucky this week. Gas prices across Canada have continued to rise, with the average price across the country up around 132.9 cents/litre - and are up an average of 25 cents overall from last month.
British Columbia is seeing the worst of the gas price increase, with their average cost at the pump soaring above 146.9 cents/litre, according to GasBuddy.com.
And according to leading analysts, the cost is likely to continue climbing.
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TL;DR Gas prices have been on a steady climb for the last three months, and unfortunately, they show no signs of stopping. The national average has reached 132.9 c/L... and, honestly, that's a lot better than the prices they're seeing in B.C.
Get ready for a wild ride @ the ⛽️⛽️ 🇨🇦- With a US oil embargo set to take effect on all Iranian oil next week, OP… https://t.co/w1HxG1k4Yi— Dan McTeague (@Dan McTeague) 1555942470.0
⚠️⛽️Alert: #Toronto #GTA #Ottawa #LdnOnt #Hamilton #KW #Barrie #Guelph #Niagara #Windsor to 👀 a 2 ct/l RISE at the… https://t.co/Y6mnIO4Hsw— Dan McTeague (@Dan McTeague) 1556014900.0
In Case You Missed It ... another 1 ct/l increase tomorrow https://t.co/NkJ3XJCLu1— Dan McTeague (@Dan McTeague) 1556105743.0
Dan McTeague is the Senior Petroleum Analyst at GasBuddy.com and the tweets above show the lead up to today.
In a blog post yesterday, though, he did explain that the market will see "something of a breather" because prices are only up "a more modest 1.7 cents" - but even a modest increase is still an increase.
[rebelmouse-image 26893253 photo_credit="GasBuddy.com" expand=1 original_size="1020x417"] GasBuddy.com
This heat map shows the range of prices across Canada right now. Green zones show the areas where gas prices are averaging between <118.5 c/L and 129.1 c/L.
Yellow and orange zones range from 129.1 - 143.4 c/L, and the red zones are 143.4 c/L and up. As mentioned above, the west coast is clearly suffering the most right now on this front.
[rebelmouse-image 26893254 photo_credit="GasBuddy.com" expand=1 original_size="707x331"] GasBuddy.com
The graph above shows that gas prices have been rising steadily since the beginning of 2019, and if Dan McTeague knows what he's talking about (and I think he does) that climb is only going to continue.
I remember the days (well before I ever drove, mind you) that gas was a mere 60 centre per litre. Data like this just shows me again and again that we should be moving away from fossil fuels and finding a better way to move people.
But until then - keep an eye on @GasBuddyDan's Twitter page for more insights into the gas market, in Canada the U.S. and abroad.