By Canadian Press

Prices Rising

Gas prices climb, with analysts expecting more increases

Jul 5, 2021 | 7:19 AM

A gas price analyst says fuel prices hit an all-time high in Vancouver today and have risen dramatically across the country.

Dan McTeague, president of Canadians for Affordable Energy, says average gas prices in Vancouver reached $1.74 today, with prices in Ontario at an average of $1.35 per litre.

And, he expects prices to climb even higher as airline travel picks up and the easing of pandemic restrictions increases demand for fuel.

McTeague says it is notable how quickly gas prices have gone up, with average prices in Canada up 30 cents since the beginning of the year.

He says the rise was due to a rapid increase in demand as North America re-opens from pandemic lockdowns.

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The ongoing heatwave in the western part of the continent has also added pressure, with some refineries at lower operating levels.