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Energy prices in Canada continue to rise

Energy prices in Canada continue to rise

By عبد السلام

Published: May 15, 2022

National gas prices continued to rise at the end of this week, with drivers in Vancouver urged to prepare for up to $2.34 per liter at the pumps.

Numbers in the "GasBuddy Fuel Detector" show that the national average for natural gas was $1.95 per liter on Saturday afternoon, with regional averages peaking at $2.15 in Newfoundland and Labrador and $2.11 in British Columbia.

Gas prices continue to rise at the end of this week, with drivers in British Columbia and Newfoundland and Labrador expected to see the highest prices in Canada.

"Dan MacTeague," former Liberal MP, told the "CBC" news network on Saturday, "What worries me is that this escalation will include the entire economy."

"I haven't seen anything like this since I was a member of Parliament [in 2008]" at least at that time the Canadian dollar was strong and protected Canadians from rising prices and inflation."

Many experts attribute the rise in gas prices to market instability caused by the Russian invasion of Ukraine, as well as a rebound in global demand with the easing of Covid-19 restrictions.

MacTeague acknowledged these factors but described the rise as more of a supply problem that preceded the war and is only now deteriorating.

“Dan MacTeague,” analyst at "Gas Wizard," during an interview with CBC News urged officials to temporarily suspend the carbon tax and provide an immediate energy cut, noting that gas prices have also been boosted by the federal Goods and Services Tax.

He said he asked the finance minister "to deliver a basket of initiatives because this is not a short-term issue." He also encouraged residents to reduce travel costs wherever possible.

"We have to do this by doing everything we can to minimize the amount we spend as well as making sure we work together.

Gas theft has become more common in Ontario: gas theft is rising as prices continue to increase, fuel stations in Ontario have reported an increase in fuel theft.

"The Gas Wizard," another gas price tracking device, predicted large jumps in various cities on Sunday, with Vancouver expected to see a six-cent rise to the national high of $2.34 per liter. Montreal is expected to jump to $2.15 and Toronto will rise pushing the average price to $2.09.

St. John is expected to see the largest jump on Sunday with 13 cents at $2.24 per liter. Prices in Edmonton are also expected to be among the lowest at $1.70 per liter.

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