Drivers fuming as gas prices reach near-record levels
Published Monday, May 14, 2018 8:20AM EDT
Last Updated Monday, May 14, 2018 8:22AM EDT
The price of gas has some drivers stressed out and experts say the cost in Ontario is nearing record levels.
Drivers say their wallets are feeling the pinch and many use apps to search for the station with the lowest gas prices.
Dan McTeague, a petroleum analyst, says a weak Canadian dollar and the harmonized sales tax are partially to blame.
“We are no longer in a world where there is a surplus of oil and therefore the base price of oil has risen dramatically,” says McTeague.
He says if prices continue at this rate, it will cost the average driver $500 to $700 more for gas this year.
Some consumers say they are adjusting their budgets reconsidering travelling long distances altogether.