MONTREAL – Drivers are facing sticker shock as gas prices in many parts of Canada are on the rise — and they’re expected to continue going up.
According to gas price tracking firm GasBuddy, the average price today for regular unleaded in the country was almost $1.15 per litre, up 19 per cent from a year ago.
Dan McTeague, a senior petroleum analyst with GasBuddy, says a combination of higher ingredient costs for summer fuel and the lower value of the loonie have caused prices in Eastern Canada to hit their highest level since October 2014.
Pump prices in the Greater Toronto Area are approaching $1.22, while Montreal is peaking at about $1.27.
McTeague sees prices rising another three to five cents per litre in Eastern Canada.
He says the highest average gas prices in Canada, aside from the Far North, are $1.39 in Vancouver, and the lowest prices are in the Prairies, at about $1.03.