Gas price hike blamed on change in seasons, motorists 'shocked'
Gas prices jumped an average of 14 cents per litre overnight, leaving motorists in Waterloo Region surprised.
"[It was] a pretty steep hike in one day. That was a little bit insane," driver Gianna Casselli said.
Long lineups were seen outside gas stations in Waterloo and Guelph last night as motorists rushed to fill up before the anticipated hike. On Thursday, people like Casselli, were disappointed by the change.
"It was shocking," Casselli said.
What's the difference between winter and summer gas?
Climbing to levels not seen in nearly two years, the price is being blamed on the switch from winter fuel to a more expensive summer blend. Experts said that changeover typically results in an increase of about 6 to 10 cents per litre.
“Never in my lifetime have I seen it going up 14 cents a litre, because of this,” Jim Voigt, owner of Columbia Auto Service, said.
According to Voigt, there is a difference between winter and summer fuel. To properly deal with evaporation, butane is added to winter fuel, but summer fuel contains additives that are more expensive.
“Additives to help in the burning and the evaporation of the fuel,” Voigt explained.
Chief petroleum analyst at En-Pro International Roger McKnight says fine tuning the refining system costs more to switch to summer blends.
“I think it's a little bit excessive. In March of 2022 it went up 16 cents,” McKnight said.
Summer blend fuel should get better gas mileage though, because it has less butane.
Gas companies accused of 'gouging'
Voigt said regardless of seasonal factors, this hike is unacceptable.
“I’m very upset. It’s puzzling to me that the gas company thinks they can pull this one over on us,” Voigt said.
On Wednesday morning, Ontario Premier Doug Ford called out oil companies, blaming them for "gouging" and messing with Canadians.
“It's unacceptable. Everywhere I was going, it was about $1.59. You wake up this morning and it's a $1.80. You know, it's absolutely disgusting,” Ford said.
Voigt wants to see Ford and the federal government do more to reduce the prices.
“Complain. Talk to the owners. The federal government brought all of the grocery store owners together and complained about the price of groceries. I don’t see anybody calling in the oil companies to talk about why they’re raising the prices so high,” Voigt said.
McKnight expects the price will drop four cents tomorrow, but it won't go back to winter pricing until September.
He said because of our trade relationships with the United States, Canada can't really do much to change the prices.
“Prices in Canada are not made in Canada. They're made in the United States,” McKnight said.
The Canada Energy Regulator declined an interview saying they have not done a recent analysis of gas prices.
Wednesday’s prices may be the highest motorists have seen in quite some time, but according to Canadians for Affordable Energy, the price is well short of the record high of 215 cents per litre set in June 2022.
The website GasBuddy.com keeps an updated list of gas prices at stations around Waterloo Region.
CTVNews.ca Top Stories
Ukraine marks its third Easter at war as it comes under fire from Russian drones and troops
As Ukraine marked its third Easter at war, Russia on Sunday launched a barrage of drones concentrated in Ukraine's east, wounding more than a dozen people, and claimed its troops took control of a village they had been targeting.
Maple Leafs eliminated from NHL playoffs with Game 7 OT loss to Bruins
Sheldon Keefe told his players hockey history would remember them one way or another.
Should you save or splurge on makeup this summer?
If you're wondering whether you should splurge or save when it comes to buying skincare products and makeup this summer, we got some answers for you.
No proof man lied to brother about number of kittens born in litter, B.C. tribunal rules
A man was denied a $5,000 payout from his brother after a B.C. tribunal dismissed his claim disputing how many kittens were born in a litter.
What a judge's gag order on Trump means in his hush money case
A gag order bars Trump from commenting publicly on witnesses, jurors and some others connected to the matter. The New York judge already has found that Trump, the presumptive Republican nominee for president, repeatedly violated the order, fined him US$9,000 and warning that jail could follow if he doesn't comply.
Bodies recovered in Mexico likely 2 Australians, 1 American who went missing: officials
Three bodies recovered in an area of Baja California are likely to be those of the two Australians and an American who went missing last weekend during a camping and surfing trip, the state prosecutor’s office said Saturday.
Amid climate change warnings, Canadians lukewarm on electric vehicles
Amid scientists' warnings that nations need to transition away from fossil fuels to limit climate change, Canadians are still lukewarm on electric vehicles, according to a study conducted by Nanos Research for CTV News.
opinion You don't need to be an influencer to earn income from social media
How legitimate are claims by some content creators that the average person can earn passive income from social media platforms like TikTok and Instagram? Personal finance columnist Christopher Liew says it's quite possible, if you're willing to put in the initial time and effort.
Madonna's biggest-ever concert transforms Rio's Copacabana beach into a massive dance floor
Madonna put on a free concert on Copacabana beach Saturday night, turning Rio de Janeiro's vast stretch of sand into an enormous dance floor teeming with a multitude of her fans.