Gasoline Prices Expected to Rise in Ontario and Quebec This Week
If you reside in Ontario or Quebec, starting from April 18, you might observe a considerable increase in gas prices.
Dan McTeague, the president of Canadians for Affordable Energy, anticipates a rise of 14 cents per litre on April 18, averaging $179.9 in Toronto for regular gas and $209.9 for premium fuel, as indicated in this article.
Mr. McTeague informed The Epoch Times, “Expect an additional 14 cents on top of your current price by tomorrow. While not all stations may implement it immediately, the market signals a 14-cent increase. These prices have not been seen since August 2, 2022, in Montreal, Quebec City, and Ontario.”
The surge is due to the transition from winter fuel to pricier summer fuel. Mr. McTeague noted, “Winter blends are cost-effective, including butane, suitable for ignition in vehicles. However, come summer, a more stable fuel composition is required.”
Summer fuels incorporate heavier additives like alkylates to reduce vaporization and potentially enhance mileage, albeit at a higher cost.
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Mr. McTeague mentioned, “The surge in alkylate prices, a premium gasoline component, contributes to the upsurge in summer blends.”
He pointed out that Western Canada will experience a gradual price increase in the upcoming weeks post-transition, albeit less steep than Ontario and Quebec.
More specifically, Mr. McTeague stated, “Western Canada follows the Chicago spot market, anticipating a 9-10 cents per litre hike by month-end.”
He hinted at a potential slight drop in prices by April 19-20 in Ontario and Quebec, contingent upon Israel’s response to Iran’s attack.
Mr. McTeague remarked, “Some speculate this as a stabilizing signal, potentially easing geopolitical tensions. However, the resultant prices may remain burdensome for many.”
Amidst heightened inflation levels, escalating fuel expenses pose a challenge across Canada, according to Mr. McTeague.
He emphasized the adverse cumulative effect of carbon tax, net-zero initiatives, and a depreciating Canadian dollar, amplifying the financial strain on many Canadians.
Highlighting the impact, he said, “Historically, Canada leveraged its resources, predominantly for exports. Unfortunately, federal policies have obstructed energy trade, conveying a message of unreliability to global investors.”
Mr. McTeague concluded, “Regrettably, our decisions have incurred unforeseen consequences, exacerbating financial hardships for the populace, evident in the soaring gasoline prices, especially in Ontario.”
