Spring is finally here! Yay! As soon as the weather calms down, we are going to be able to drive around with the roofs down and enjoy the nice warm sun on our faces.
Oh, wait, well I guess we won't be able to enjoy it that much seeing as gas prices are going to be on the rise.
According to GasBuddy, gas prices are predicted to rise an average of 0,01$ to 0,03$ next week. Though that doesn't seem like much, as anyone who drives a car will tell you, every cent makes the difference.
Also, this year is predicted to be the most expensive year for gas since 2014. The average is likely going to be 1,19$ for the rest of the year. And Quebec's gas price increase is going to devastate more than most.
Quebec is expected to see a rise of 0,10$ in the next couple of days. Yeah, that's right! At least it won't be as bad as British Colombia who is set to reach a new record high in gas prices at 155,9$ a liter.
There are three main reasons that can explain this insane gas price hike. First of all, the Canadian dollar is starting to lose more value, losing 8% as compared to the American dollar. Second, gas refineries are starting to either close or prolong their closures for spring maintenance. And lastly, in 2016 the OPEP (Organization of the Petroleum Exporting Countries) decided to reduce their oil production.