Gas prices expected to rise in 2018

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TORONTO

In 2018 it will cost you a lot more to fill up gas in your car. This rise in cost would represent the highest it has been since 2014. This forecast comes to you courtesy GasBuddy which recently
released their 2018 Fuel Price Outlook report, and the cost of fuel this year is looking pretty high.

The average price of gas this year is expected to be $1.19, according to GasBuddy.

We’re seeing the lowest expected price of gas of the year this month in January 2018, at $1.13. September is projected to be the most expensive for gas at $1.24.
“Circumstances beyond Canada’s control, including a surging U.S. dollar versus a weaker Loonie, increasing U.S. fuel demand and growing exports, will put a premium on what Canadians will pay at the pumps in 2018,” said Dan McTeague, senior petroleum analyst at GasBuddy, in the report. “We estimate pump prices will therefore rise an average of 5 cents a litre across the country.”

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In comparison, the highest daily average gas price is projected to range from $1.29 to $1.35 in Toronto. So, gas prices close to home are projected to be quite average on a Canada-wide scale.

There is a major factor that plays into the price of gas throughout the year.

All in all, this is going to be a very expensive year for many families.

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