Experts say gas prices will continue to climb upwards this week

FORT ST. JOHN, B.C. – The price of fuel surged well past the $2 per litre mark over the weekend in the Peace region, with experts warning that more increases are yet to come.

The Canadian Press reports that the national average for gas prices rose to about $2.06 on Sunday, an increase of nearly three cents from Saturday and eleven cents from the previous week, according to the Canadian Automobile Association.

“We’re seeing gas price records repeatedly shattered across the country,” Dan McTeague, president of Canadians for Affordable Energy told the Canadian Press.

Gas prices in Fort St. John rose to $2.16, while prices in Vancouver climbed to $2.37 a litre this weekend.

McTeague says prices are expected to inch up another three cents in the coming days, with average gas prices forecasted to hit $2.12 a litre across the country by late Monday.

Prices have also been pushed to new record highs by strong demand as the economy reopens and the summer travel season commences.

“Prices are continuing to move up, reflecting summertime demand,” McTeague said. 

“The demand for fuel continues to be very robust.” 

Gasoline prices have heightened since late February when the price of oil soared to around US$100 a barrel after Russia’s invasion of Ukraine.