Why gas prices are high and why an expert says they won't drop until the winter
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Inflation has increased, according to Statistics Canada, and gas prices are at least partly to blame. Here's why gas could be costing Canadians more over the next few months.
Gas prices are expected to reach an annual high this summer across Canada and into fall, with more than one factor causing the increase, experts say.
Canadians are already paying more at the pumps over the last week with prices skyrocketing in some areas.
According to data from the Canadian Automobile Association (CAA), the average price across the country on Aug. 16 is 169.3 cents per litre. A week ago the average was 163.9 cents per litre.
GasBuddy, a gas price indicator, shows B.C. has the highest gas price at 192.8 cents per litre, followed by Nova Scotia at 186.3 cents per litre and P.E.I. at 186 cents per litre.
The lowest gas prices as of Aug. 16 according to GasBuddy are Alberta with a price of 146.4 cents per litre, the Northwest Territories at 159.3 cents per litre and Saskatchewan at 161.3 cents per litre.
Gas prices have been on the rise for a few months.
The July Consumer Price Index (CPI) report from Statistics Canada "mainly" blamed an increase in inflation on gasoline. Headline inflation increased from 2.8 per cent in June to 3.3 per cent in July.
