Supply and demand issues have already impacted the market for quite some time, and Dan McTeague at Canadians for Affordable Energy now says if the war in Ukraine worsens, we could see another jump in the price of gasoline this week – maybe 5 cents more a litre.
McTeague also says gas prices could go up an additional 5 cents per litre next week as we gear up for the May long weekend, which is typically considered the unofficial start of summer.
Here in Brandon, the average price is $179.9 a litre. Across Canada, it’s getting close to $1.97 a litre, with British Columbians feeling the most pain at the pump, shelling out an average of $2.06 per litre.
Vancouver is seeing $2.22 per litre, Victoria residents are paying $2.17 a litre, drivers in Montreal are dealing with $2.07 per litre, and prices in St. John’s stand at $2.03 per litre.
McTeague says even if the war in Ukraine comes to an end in the near future, high gas prices are expected to stick around for a while because sanctions will likely remain on Russia’s energy sector.
Gas prices also tend to rise in the summer when more people travel on vacation.