2017 will be very expensive year for gasoline prices: analyst
You can never predict what a new year will bring.
In Ontario one thing is for certain...higher gasoline prices.
The province's Cap and Trade program is now in effect; it's estimated it will drive the average price up roughly 4.4 cents a litre.
Dan McTeague with Gas Buddy expects the average price of gasoline around the GTA to hover around the $1.15/litre mark.
"With the provincial government adding another 4.4 cents/litre, having already added eight per cent to the cost of fuel in 2010 which they said was revenue neutral, you can pretty much wave goodbye to below $1.00/litre gasoline unless some retailers are willing to throw away their retail margins to sell you gasoline below what it costs them to buy."
It doesn't end there. "You'll be paying more for products and goods that are delivered by diesel which went up 6.1 cents litre. If that's not enough, a colder Winter should add another $10 to $15 a month to your natural gas bill over 12 months."
McTeague says gasoline prices around the GTA are still 10 cents below Montreal and 15 cents less than Vancouver.