Gas Prices Spike 14.2%, Continued Increases Could Cost Consumers $500 To $1,000 More This Year

And the carbon tax will make it worse.

Gas prices surged by 14.2% in April alone, and they’re expected to keep going up.

According to BNN Bloomberg, Dan McTeague from GasBuddy.com “expects gas price increases to continue for 2018, and that consumers could take a hit of $500 to $1,000 per year.”

For the millions of Canadians already struggling to make ends meet, $500 to $1000 more for gas per year will be a big problem, and it will be a serious drag on our economy.

Added to those increases is the cost of the carbon tax, which not only increases the price of gas (and everything else), but also leads to more GST on the already-increased price.

So, on top of price increases we’re getting taxes on taxes.

Wonderful…

And, while Canada once was able to benefit from higher oil prices, that link is being severed due to our severe pipeline capacity shortages and the resulting  discount on Canadian Heavy Crude compared to West Texas Intermediate.

Overall inflation continues to increase, with more expensive air travel and higher restaurant costs taking a bigger bite out of consumers pockets. The core inflation rate reached 2.03%, and even that number leaves out gas-prices.

These higher costs would be bad enough if Canada’s pipeline capacity was expanding and if taxes were being kept steady.

But with the Trans Mountain crisis, an investment collapse, and higher taxes every year because of the escalating carbon tax, consumers and our broader economy are being damaged even more than underlying economic conditions would indicate.

Spencer Fernando

Photo – YouTube

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Major Tom
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When’s the revolution? My pension didn’t go up!

Timothy Hickey
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Timothy Hickey

My question is to you Spencer

How about an answer to this question ~ What do we do about it?

Christine
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Christine

This is disastrous. I know of so many people who can barely pay the current bills. If there is any prosperity in Canada, it is certainly hidden from the majority of Canadians.

Ralph Knapp
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Ralph Knapp

Governments could care less about fuel price increases. Matter of fact, they love it because every time the base price of fuel goes up, governments receive more taxes.

Nancy
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Nancy

Well, ” behave Canadians ” most of us know the greedy rich have never really done a days work in their lives let alone had to keep a roof over their little greedy heads or been hungry or cold. They made all their riches off of us hard working people and feel this is correct, that they deserve more and more, their amusement comes from their agendas, messing up our lives, they can afford to, they don’t care about anyone else just the other greedy rich. So while they drive in heated cars live in huge fancy homes, with chefs… Read more »

Dave Bainard
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Dave Bainard

But Moroneau and Jr say everything is great. Maybe Jason Kenney’s statement about Jr should be expanded to the whole Liberal caucus.

Joanne
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Joanne

Gas is $1.55 cents a litre in my home city of Victoria, and prices are expected to be even higher by summer.

Bruce
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Bruce

A vote for a Liberal or NDP candidate at the provincial or federal level is national suicide.

Ben
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Ben

Dont believe a world any jerk from gas buddy thinks they are idiots.

Maggat
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Maggat

HUH?

Norbert Kausen
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Norbert Kausen

This is out and out extortion!!! We must strike across the country in opposition to this criminal activity!!! We must strike for however long it takes… no driving, no going to work, no purchasing of anything, for a week, or however long is necessary… or this will simply continue! The government knows we will gripe, but they are baking on us just rolling over and taking up the hershey highway! Same goes with the oil companies and the banking system which enables them! On the 2nd of June there is a nation wide strike at every city hall across the… Read more »

Tommy Hawk
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Every dictionary definition I have been able to find describes ‘theft’ and ‘thievery’ as criminal offences — and, in my view, ‘governmental theft’ is still theft — that it may have a ‘nicer name,’ does not alter that basic reality one bit.

Clive Edwards
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Clive Edwards

Governments behave like the mafia at the best of times – it’s all about extortion and paying protection money. Now that the government is getting into the marijuana business perhaps the Hell’s Angels will get into the gasoline business. Lineups at a hijacked tanker behind some secluded warehouse or shopping mall in the middle of the night. Far fetched? Sooner or later the “black market” always fills the gap between what people want and what they can’t get or can’t afford. And once “straight” law-abiding people cross that line there will be no getting most of them back and there… Read more »