Gas prices will rise this year.
OXFORD COUNTY- Canadians can expect gas prices to rise and fall this year.
According to GasBuddy.com, gas prices will fluctuate and reach their highest annual average since 2014.
The company says contributing factors to the increase in fuel prices include The company says things like gas taxes and currency.
Senior Petroleum Analyst with GasBuddy, Dan McTeague says Canadians the overall economy plays a role as well.
“Canadian drivers should expect a bumpy ride at the pumps in 2019 with markets fluctuating wildly given the uncertainty over the economy as a whole and energy markets being driven by a news headline sensitive stock market. With carbon taxes set to begin or increase in 8 of 10 provinces, the average hike of 5 cents per litre by April 1st, combined with a limping Loonie, will almost certainly force up the cost of filling your tank, just in time for the summer driving season and switchover to more expensive summer gasoline. The tax increases will be particularly noticeable in Vancouver which will displace Montreal as the highest taxed jurisdiction on fuel in North America.”
Due to the Canadian dollar being weaker than the U-S and Ottawa's five cent per litre carbon tax going into effective later this year, prices will be higher than usual in the spring and summer driving seasons.
In addition to fuel prices rising, extra attention will need to be given to the ongoing premium of diesel prices, which are not expected to fall notably for several years.
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