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National Energy Board predicts costly fuel for summer drivers

Federal agency expects to be oil prices to be around $30 to $50 higher than last summer


 

Canada’s National Energy Board is predicting an expensive driving season this summer. Citing continued political unrest in some oil-producing countries, the agency expects average oil prices to be somewhere between US$100 and $120 per barrel, significantly higher than last summer’s range of $70 to $80. This rise in oil prices translates to a spike in the cost of gasoline and diesel, since crude oil is their main ingredient. According to GasBuddy.com, the average price for a litre of gas in Canada on Thursday was $1.33.

CTV News


 
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National Energy Board predicts costly fuel for summer drivers

  1. Oh, so when oil goes up gas prices go up. But when oil goes down gas prices stay up. Got it. 

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