The days of $0.97 per litre gas appear to be in the rearview mirror.
LISTEN: Bill Kelly talks to gasbuddy.com senior analyst Dan McTeague
“Canadian oil refineries were producing so much oil, people in Ontario were seeing prices that were even below the international market. In my 20 or more years analyzing petroleum, I have never seen that.”
Combine international pressure with the switch over to summer fuels and consumers in Hamilton are looking at an increase of 5 cents per litre.
“For the past 35 years, we’ve had a standard in Canada,” said McTeague, who is a former Liberal MP and Consumer Affairs Critic. “As the weather warms up, gasoline becomes more volatile. You want to make sure you have additives in the blend of your gasoline so it doesn’t evaporate.”
April Fools won’t be so funny for Canadian gasoline consumers. The federal carbon tax kicks in on Monday, adding another 5 cents.
McTeague added that Hamilton gas prices, in particular, can be erratic. He says prices tend to decline later in the day.
WATCH: Fuel analyst predicts wild and bumpy ride for 2019 gas prices