Canada Gas Prices Are Skyrocketing, Here's How Much It's Going to Cost You - MTL Blog

Canada Gas Prices Are Skyrocketing, Here's How Much It's Going to Cost You

Prices haven't been this high since 2014.

Owning your own car has always been the most costly form of transportation. Sure, having the independence of being able to get yourself to point A to B whenever you want is great, but once you start thinking about insurance, regular tune-ups, repairs, and yes - gas, an $80 per month Metro pass and commuting with strangers starts to look oddly enticing. 

READ ALSO: Starbucks Release All New Spring 2018 Lunch Menu

Current and future car owners get ready for some disturbing news: gas prices in Canada are going to reach a high that hasn't been seen since 2014.  

In B.C the price of gas hit $1.61. According to Gas Buddy, this is the highest price point ever seen for North America. In Manitoba, gas prices went up a whopping 31 cents from last year's average.

Now for the info you're actually interested in: Quebec. In our Belle Province Quebecers can expect to see a big jump, at least 12 cents, which would bring the price of gas up to $1.47. Some say it can go up to $2 per liter! 

Now for my favorite question, why? Well, a couple factors - macro and micro - and theories are flying around as to why the hell gas prices are so damn high.

It seems that although oil prices have shot up, our dollar has remained low and not risen with the price of oil. As a result, Canadians are not getting the full value for a barrel. 

Another reason is caused by local gas station owners competing to drop prices and outbid competitors. 

However, regardless of the true underlying cause, the simple fact remains - if you drive a car, you'll need to fill up the tank, no matter what the price.  Maybe now is the right time to start looking into that electric or alternative energy car you've been eyeing so closely.

Source

Share on Facebook

Recommended for you