The price per litre of gasoline will rise this week to roughly $1.79 across Ontario. That’s the highest gas price since August 2022.Posted: Apr 17, 2024 12:02 PM EDT | Last Updated: 30 minutes ago
"It's the perfect trifecta," he told CBC. "Tensions in the Middle East, the carbon tax increase and the switch-over which happens semi-annually from winter to summer gasoline." "When it's warm, you don't want something that's that volatile. In order to reduce any damage to the environment, you blend it with something called alkylates, which are extremely expensive."
"We have to look at summer demand, which begins its kickoff on the May 24 weekend," McTeague said, adding that severe weather, such as hurricanes in the Atlantic, and geopolitical events play a part in the price of oil per barrel.