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.
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.