#gasolinepricesinCanada, #VictoriaDaylongweekend; #DanMcTeague; #logisticalissues; #JasonParent
Toronto, May 19 (Canadian-Media): Average gasoline price across the country currently is 134.4 cents per litre, but prices are expected to rise in most of Ontario, media reports said.
Dan McTeague of GasBuddy.com., Fuel market analyst said prices were expected to rise in Ontario, the Maritimes, Manitoba and Saskatchewan, but fall from highs in Alberta and Quebec.
Gasoline prices in many parts of Canada rise during Victoria Day Long Weekend.
McTeague said Toronto, Hamilton, Ottawa and most of the rest of Ontario would see increased gasoline prices, reaching an average of 140.9 cents per litre on Saturday, the highest since June 29, 2014.
"We said this would be the highest price [in four years] ... but honest to God, I never thought it would be this high," said McTeague.
It was in August 2008. that Canada recorded the highest average price of reportedly 142.4 cents
Jason Parent, Kent Group vice-president said this time of the year usually experiences higher fuel because increased demand allows retailers to build in bigger profit margins.
"We're into the beginning of the summer driving season and demand's on the rise and supply generally is a bit tighter," he said. "The general trend at this time of year is upward."
Gas prices in New Brunswick and Newfoundland and Labrador rose Thursday by more than two cents, McTeague reported.
Quebec prices are expected to fall by as much as 10 cents over the weekend, while Alberta prices would reportedly slump by about four cents, in both cases due to local market pressures.
McTeague said Vancouver region prices could rise over the weekend but will fall back as the work week dawns.
Vancouver records reportedly prices higher than anywhere else in North America because of logistical issues.
"They can't bring enough product from Alberta into the region, so they have to go out and get imports, and over the last while, those have been higher priced because the import market is fairly competitive on the West Coast right now," he said.