Gas prices in Canada are on the decline, bringing relief to drivers as a result of the seasonal transition. Earlier this week, the national average gas price peaked at 194.5 cents per liter before decreasing overnight to 186.9 cents per liter. The shift in prices is attributed to the switch from summer-blend gasoline to winter blend that typically occurs in mid-September to enhance engine performance in colder temperatures.
According to Dan McTeague, president of Canadians for Affordable Energy, the cost of gas is expected to decrease further by a few cents over the weekend. However, McTeague noted that unless there is a significant increase in oil, diesel, jet fuel, and gasoline supply in global markets, the current drop in gas prices may not sustain.
In contrast, diesel prices in Canada have surged, with the average cost per liter standing at $2.751. Specific cities like Calgary are experiencing slightly lower prices at $2.513, while Vancouver has surpassed the three-dollar mark, with drivers paying $3.055 per liter. This spike in diesel prices is concerning for consumers as it can lead to increased prices for goods due to higher fuel costs incurred by transportation companies.
Experts warn that the rise in diesel prices could impact grocery prices as trucks and tractors, essential for transporting and harvesting food, predominantly rely on diesel fuel. Tej Dulat, director of government and public affairs at the Canada Truck Operators Association, highlighted that consumers are likely to bear the brunt of these increased costs as companies pass them on to maintain profitability.
