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Why gas prices are so high and what to expect in the fall

Why gas prices are so high and what to expect in the fall

CTV
Thursday, August 17, 2023 10:28 AM GMT

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.

A few stations in Yukon, according to GasBuddy, show high prices around 193 cents per litre, though it is not an average for prices in the territory comparable to data from other regions.

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.

Read full story on CTV
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