Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
MoreBack to News Headlines
Why the price of gas keeps going up in most provinces

Why the price of gas keeps going up in most provinces

CBC
Saturday, January 29, 2022 4:09 AM GMT

The price of gas continues to go up in Canada and, in some regions, is breaking records. 

The two-day average price at the pump per litre has gone up in Ontario, Quebec, New Brunswick, Nova Scotia and P.E.I., according to the Canadian Automobile Association (CAA). 

The average price in Canada is $1.478 per litre, as listed on gas price tracker website GasBuddy. 

Experts say geopolitical tensions are behind the recent increases, and that 2022 will see even higher costs.

Tensions between Russia and Ukraine have "the market on its edge as gasoline and crude product stocks are quite low," said Al Salazar, vice-president of intelligence at energy analytics firm Enverus.

"Any type of outage would really send prices soaring if the geopolitical tensions boil over, which obviously ripples to gasoline. I don't think anyone is immune to these price rises in gasoline."

Russia supplies much oil and gas to the rest of the world — a supply that could be cut off if tensions escalate.

Analysts say energy markets are already looking at the tensions as a very serious risk, "and therefore prices are moving higher," said Dan McTeague president of the advocacy group Canadians for Affordable Energy.

He said gas prices in the Toronto area hit record highs this week — passing the record of $1.499 per litre set on Nov. 4 of last year to hit almost $1.52 per litre.

In Quebec, the average price per litre is up 2.9 cents from last week, now sitting at about $1.546. Gassing up in Nova Scotia has also gone up compared to last week, from $1.45 to $1.467 a litre, on average.

"We're into new territory," McTeague said.

"I think we're marching to $1.65 for an average price of gasoline in Canada."

While there are many factors that determine the price of retail gasoline, the price of oil is the biggest.

Oil prices took a huge hit in the early months of the COVID-19 pandemic, as travel slowed to a crawl, factories closed and the world economy effectively went into hibernation.

Read full story on CBC
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
Wealthsimple launches credit card, new line of credit to challenge big banks

Wealthsimple Inc. announced its first credit card and a line of credit Wednesday as it ramps up efforts to challenge the dominance of Canada's big banks.

Fewer Americans are visiting Canada. Ad campaigns assure them they're welcome here

Late last year, Dan Davis of Cleveland, Ohio, began planning a motorcycle trip with friends this summer that includes several days in Ontario. 

DHL Express workers on strike after company locks them out, adding to parcel sector turmoil

Unifor says DHL Express Canada locked out workers just after midnight Sunday as the two sides failed to reach a contract deal, injecting more labour turmoil into the country's parcel delivery market.

Customs brokers are cross-border trade gurus. With tariff whiplash, they're facing 'toxic uncertainty'

Dan Patrick De Los Santos's workday looks very different then it did a few months ago before the Trump administration tariffs upended trade — and his job description.  

Canada's unemployment rate ticks up to 7% in May, highest in 9 years outside of pandemic

Canada's unemployment rate rose to seven per cent in May, the highest it's been in nine years outside of the pandemic, Statistics Canada said on Friday.

Bank of Canada must get comfortable with the unknown as long as Trump is in charge

In two straight decisions, the Bank of Canada has said it was leaving its key overnight lending rate unchanged as it gains "more information on U.S. trade policy and its impacts."

These charts reveal a Canada-U.S. bond forged in steel and aluminum

It's a move that could reshape North American trade.

ETFs are outpacing mutual funds despite market volatility. Are rookie retail investors at risk?

Canadian investors are putting more of their money into exchange-traded funds (ETFs), according to recent data, even as the U.S.-led trade war rocks global stock markets, and some experts say rookie retail investors could be at higher risk. 

© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us