Gasoline prices continued to rise in much of Canada over the weekend, and experts warn that further increases are coming this week.
Average national gas prices rose to about $ 2.06 on Sunday, nearly three cents from the day before and 11 cents higher than a week ago, according to the Canadian Automobile Association.
Read more: Have you ever wondered how the price of pump fuel is determined?
“We are seeing many times breaking records for gas prices across the country,” said Dan McTeague, president of Canadians for Affordable Energy.
On Sunday, Vancouver reached a staggering price of nearly $ 2.37 per liter over the weekend, while Montreal posted gas prices of just $ 2.24 per liter, according to Gas Wizard, which is run by McTeague.
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St. John’s reached $ 2.23, and Toronto approached $ 2.15 per liter of unleaded gasoline.
Canadian gas prices will average $ 2.12 per liter by Monday afternoon, June 6.
It will go higher
– Dan McTeague (@GasPriceWizard) June 5, 2022
Fuel prices are expected to rise another three cents in the coming days, he said, with average gasoline prices expected to reach $ 2.12 per liter across the country by late Monday.
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In the Atlantic provinces, where gas prices are regulated, McTeague said regulators could use so-called cut-off clauses to introduce price increases in the middle of the week.
Gas prices have risen rapidly over the past year as limited global supply has been exacerbated by Russia’s invasion of Ukraine.
Prices have also risen due to strong demand as the economy reopens and a busy travel season begins.
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“Prices continue to rise, reflecting demand over the summer,” McTeague said. “Fuel demand remains very stable.”
Rising gas prices are complicating the economic effects of inflation on Canadians.
Higher fuel prices have an impact on the whole economy, raising the prices of most goods and hurting consumer sentiment.
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“Energy prices have a cascading effect on food and other commodity prices,” McTeague said.
In a statement, the CAA offered Canadians tips on improving the fuel economy of any car.
The organization said drivers should drive conservatively and avoid starting, speeding and braking, which could reduce fuel consumption by 15 to 30 percent at highway speeds and by 10 to 40 percent when braking and driving.
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In addition, the CAA said drivers should minimize so-called cold engine operation, which means drivers must start the engine and then drive normally to warm up the engine.
CAA said that adhering to speed limits, removing unnecessary items from your car, using cruise control to minimize speed fluctuations on highways, and avoiding excessive idling also help reduce fuel consumption.
© 2022 The Canadian Press
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