Drivers feeling pinch at pumps

Motorists in many parts of Canada are expected to see rising gasoline prices as they hit the road for Victoria Day weekend.

But fuel market analyst Dan McTeague of GasBuddy.com says price direction will vary across the nation over the next few days, with prices actually expected to fall from recent peaks in Alberta and Quebec.

He says prices for regular gasoline in Toronto, Ottawa and most of the rest of Ontario are expected to rise by one cent per litre on Friday and another cent on Saturday, reaching an average of 140.9 cents per litre, the highest since June 29, 2014.

 

McTeague says Canadian gas stations follow prices set in the much larger fuel markets in the United States but are inflated by the current low value of the Canadian dollar compared to the American greenback.

 

Posted in News & Sports

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