1

Canada see ‘biggest increase’ in gas prices since Hurricane Katrina—and there’s no end in sight


 

Gas prices are too high—it’s a complaint as commonplace in our society as bad weather, and its being heard across Canada as people confront spiking prices at the pump.

In Montreal, gas prices hit $1.47 per litre on Wednesday, while in Toronto and Vancouver they breached the $1.40 mark at some gas stations. But, as the CBC reports, the spike seems inexplicable since crude oil prices have dropped recently to $102.95 per barrel on the New York Mercantile exchange.

“It’s probably the biggest increase I’ve seen since Hurricane Katrina when things went completely crazy,” Roger McKnight of En-Pro International, who predicted Wednesday’s price jump, told the Toronto Star. “And there’s no end in sight.” He told the newspaper that—despite the recent drop in crude oil prices—there’s a growing demand for crude at the same time as a decline in refining capacity in North America after several refineries in the U.S. shut down in recent months.

The gas industry, meanwhile, claims spikes in prices are a result of a seasonal switch in fuel types, something former Liberal MP and head of the website Tomorrow’s Gas Price Today Dan McTeague told the CBC is a “lame and well-worn excuse.”

But there’s nothing much consumers can do, aside from driving less and taking public transit.


 
Filed under:

Canada see ‘biggest increase’ in gas prices since Hurricane Katrina—and there’s no end in sight

  1. I googled gas prices in the United Arab Emirates last year (my son and his wife live in Dubai and they’re always crowing about how little they pay…)  47 cents a litre in 2011! However this is higher than in some neighbouring countries because, ‘although oil can be taken out of the ground in a
    comparatively cheap manner in the UAE, it is not all refined locally
    into petrol.’

    So that means our gas prices come down to a few choice words: Corporate Greed Supported by the Harper Alberta Government.

Sign in to comment.