Gas prices rise up to $1.47 a litre
The increase followed a 6.5-cents-per-litre jump the day before in the same areas.
The increases means the average price for a litre of regular is just under $1.47 in Montreal, and just over $1.41 in the Toronto area. In Ottawa, the price rose to $1.35, and in Vancouver it rose to $1.40
Motorists said they are feeling the pinch in their wallets.
"It probably means another $50 a month for me," said Ken Fairweather, who was filling up at a gas station in downtown Toronto. "So, certainly [I'll have to] cut back on eating out and things like that."
Longtime fuel price watcher and former Liberal MP Dan McTeague said speculation is to blame for the price increase. McTeague said the price in Toronto is roughly eight cents per litre above where it should be.
Others differ on the reasons, however. John Stephenson, author of The Little Book of Commodity Investing, and senior vice-president of First Asset Investment Management, told CBC Radio's Metro Morning on Wednesday that speculation isn't the cause of higher prices.
"Every time the price of oil goes higher and the price of gasoline goes higher, there's an outcry — not only in this country, but south of the border," he said.
Read more: cbc
