Don’t forget to fill your tank up this weekend!
Gas prices on the island and across Canada are expected to surge next week, according to GasBuddy.
The increase in gas prices is due to a variety of reasons, including a new carbon tax that’s set to take effect starting April 1st, rising oil prices, and a weaker Canadian dollar compared to the US.
On Wednesday, several Shell gas stations around town have already climbed to 155.9 per litre.
According to GasBuddy, fuel prices have risen approximately 20 cents per litre since January, 2019, costing the average motorist an extra $9 to fill up.
“The start of the month marks the first day of Ottawa’s carbon tax fee on gasoline, diesel, and heating fuels in Ontario, New Brunswick, Manitoba and Saskatchewan,” said Dan McTeague, senior petroleum analyst at GasBuddy in a release.
“In addition, British Columbia will be adding 1 cent to its current carbon tax for a total carbon levy of over 9 cents per litre.”
According to McTeague, gas prices are likely to continue rising until they peak and remain high in the early summer.
Here are GasBuddy’s predictions for gas prices across the country on April 1st:
• 5.1 c/L in New Brunswick (even though price changes usually take place Thursday)
• 5.0 c/L in Ontario
• 4.6 c/L in Saskatchewan
• 4.6 c/L in Manitoba
• 1.0 c/L in British Columbia