Gas costs proceed to soar for weekend drivers, consultants predict no fast aid

National fuel costs are persevering with their rise to staggering highs this weekend, with drivers in Vancouver instructed to brace for as a lot as $2.34 per litre on the pumps.

Figures on the gas tracker GasBuddy present the nationwide common worth of standard fuel reached $1.95 per litre on Saturday afternoon, with provincial averages peaking at $2.15 in Newfoundland and Labrador and $2.11 in British Columbia. 

Gas Wizard predicted important jumps in numerous cities Sunday, with Vancouver anticipated to see costs surge six cents to a nationwide excessive of $2.34/litre. 

Montreal is projected to see a four-cent leap to $2.15, and Toronto is on tempo for a six-cent enhance that may take common costs to $2.09.

St. John’s is anticipated to see the most important leap Sunday at 13 cents to $2.24/litre.

Prices in Edmonton are projected to be among the many lowest at $1.70/litre.

“These are mind-numbing, eye-popping prices that … is probably not sustainable for most Canadians on fixed incomes/middle class,” mentioned Dan McTeague of Gas Wizard, additionally president of Canadians for Affordable Energy.

“I think it’s fair to say most Canadians are taking a pounding on this and it’s not the ones who drive for kicks and giggles, it’s the ones that need this to get to work…. And it will be long term.”

Many consultants have attributed hovering fuel costs to market destabilization introduced on by Russia’s assault on Ukraine, in addition to recovering world demand as COVID-19 restrictions ease.

McTeague acknowledged these as elements, however characterised the spike as extra of a provide difficulty that predates the struggle and is simply being exacerbated now.

He referred to as for a short lived suspension of the carbon tax and for Ottawa to supply a direct power rebate, noting that hovering fuel costs have additionally elevated the federal GST haul.

“They’re making money hand over-over-fist. It seems to me that it would be wise for them to at least consider some kind of a rebate, or at least a way to alleviate, through maybe a GST rebate, to insulate and help those on fixed incomes and those of course who are having a tough go of it,” mentioned McTeague, a former Liberal member of Parliament.

On Friday, B.C. Premier John Horgan mentioned decreasing taxes could be a “short-sighted” plan that solely provides a “modest amount” of aid.

He mentioned he has requested the finance minister “to bring forward a basket of initiatives because this is not a short-term issue.”

Until then, he inspired residents to cut back journey prices the place attainable.

“We need to do that by all of us taking the steps that we can to reduce the amount we spend and also ensuring that we’re working together. If you’re going to the grocery store and you know you’ve got a neighbour that needs something, ask if you can pick it up for them and reduce the number of trips that we take,” he mentioned.

“Right now I encourage people to think before you hop in the car — do you need to make that trip?”

This report by The Canadian Press was first revealed May 14, 2022.

Cassandra Szklarski, The Canadian Press

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