麻豆影视

Business

    • Canadians face record national average gasoline prices ahead of Thanksgiving weekend

    Share
    CALGARY -

    Gasoline prices shattered all-time records in many parts of the country this week, just in time for Canadians to hit the highway for the Thanksgiving long weekend.

    Data from Natural Resources Canada, which tracks fuel prices across the country, shows the average weighted national retail price for regular gasoline in Canada hit $1.45 per litre this week. That's up more than 40 cents year-over-year and the highest weekly average price on record, according to fuel price consultancy firm Kalibrate, which has data all the way back to 2007.

    ""This we haven't seen in history, to be honest," said Vijay Muralidharan, Calgary-based director of consulting with Kalibrate, formerly Kent Group Ltd. "As far as I can remember, we haven't seen these prices."

    The price consumers pay at the pump varies by region, depending on local market conditions and regional taxes. In Vancouver, for example, gasoline prices were higher this summer than they are now, hitting an eye-watering $1.73 per litre on Canada Day.

    But the price gains occurring now are unprecedented in their scope, with drivers in parts of Alberta, Manitoba, Newfoundland, and the Greater Toronto Area all seeing record-high prices this week, according to the fuel price tracking website GasBuddy.com.

    Some markets have even seen double-digit week-over-week price increases. Drivers in the Manitoba cities of Brandon and Winnipeg, for example, saw the price at the pump go up by more than 11 cents per litre in the last week alone, according to Natural Resources Canada data.

    The majority of the gains are being driven by the price of crude oil, which is at seven-year highs due to increased demand globally as pandemic restrictions ease and economic activity picks up, Muralidharan said.

    "Last year we hit bottom in terms of gasoline pricing and crude pricing. Since then, crude pricing has rocketed away into new peaks, and that's transferred into high gasoline pricing," he said.

    While gasoline prices spiked this summer during peak driving season, that pattern is normal and to be expected, Muralidharan said. What's unusual now is to see prices so high in the fall. Muralidharan said refiners and retailers haven't reduced their margins yet from the summer peak because driving demand is still so strong, especially in the U.S.

    "The driving season usually ends in September, but it's still going strong. And what happens in the U.S. affects us here," he said.

    The retail price at the pump also reflects the impact of the federal price on carbon, which is to rise from $20 per tonne of carbon dioxide equivalent in 2019 to $50 per tonne in 2022. Currently, the impact of carbon pricing on gasoline is eight cents per litre, and that will rise to 11 cents per litre in 2022.

    Muralidharan said gasoline prices usually settle back down by winter, but this year there are many unknowns related to the trajectory of the COVID-19 pandemic as well as the outcome of a dispute between Canada and the U.S. over MIchigan's attempts to turn off the taps to Enbridge Inc.'s Line 5 pipeline. The pipeline provides nearly half of the fuel supply to Ontario and Quebec, but Michigan has attempted to shut it down citing the perceived risk of a spill.

    "(Gasoline) demand usually goes down after October, that's what history has told us. So if that's true, we'll see some pullback in pricing," Muralidharan said. "But this year there are so many uncertainties out there that we don't know if these prices are going to be sustained."

    This report by The Canadian Press was first published Oct. 7, 2021.

    CTVNews.ca Top Stories

    Why brain aging can vary dramatically between people

    Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to healthier cognitive aging, including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.

    The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

    Canada

    World

    Politics

    • Murray Sinclair鈥檚 family members say the late justice and senator has been laid to rest according to his wishes.

    • Prime Minister Justin Trudeau announced voters in Cloverdale鈥擫angley City will pick their next member of Parliament on Dec. 16.

    Health

    Sci-Tech

    Entertainment

    Business

    Lifestyle

    Sports

    Autos

    Local Spotlight

    For the second year in a row, the 鈥楪ift-a-Family鈥 campaign is hoping to make the holidays happier for children and families in need throughout Barrie.

    Some of the most prolific photographers behind CTV Skywatch Pics of the Day use the medium for fun, therapy, and connection.

    A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.

    As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.

    A group of women in Chester, N.S., has been busy on the weekends making quilts 鈥 not for themselves, but for those in need.

    A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.

    Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.

    A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.

    • Weather watchers were treated to an exceptionally rare display on Friday evening as rare cloud formations filled Vancouver skies.

    • For some shoppers it was Nov. 1, but for others the first hints of Christmas - saccharine treats, festive-fragranced candles and gaudily wrapped gift sets - were being noticed in stores long before the final Halloween decor had been cleared.

    • Thousands of people are expected to gather in downtown Vancouver on Monday to observe the city鈥檚 100th Remembrance Day ceremony.

    • Toronto is expected to see an economic boost to the tune of nearly $300 million thanks to Taylor Swift鈥檚 upcoming Eras Tour, which will be making a stop in Canada鈥檚 largest city for a six-show run later this month.

    • One man was transported to hospital early Monday morning after a stabbing in the northwest end of the city, Toronto police say.

    • Calgarians will be observing Remembrance Day at a number of different ceremonies across the city, including at the Hangar Flight Museum.

    • A home in the northeast Calgary community of Saddle Ridge was damaged in a fire on Sunday.

    • A pair of 105-mm howitzers bark constantly as they turn plywood tank targets into kindling kilometres away on the windswept landscape of one of Canada's largest military bases.

    • CTVNewsOttawa.ca looks at Remembrance Day ceremonies in Ottawa.

    • After months of controversy surrounding a dog park in Ottawa's west end, a solution has been reached to divide the park in half.

    • The employers association at the Port of Montreal locked out nearly 1,200 longshore workers, bringing a halt to traffic at the port.

    • An elementary school in Greenfield Park on Montreal鈥檚 South Shore is closed after it was the target of an alleged arson attack.

    • Though most businesses are expected to be open on Remembrance Day, there are some establishments that will be closed to commemorate the holiday.

    • Monday is Remembrance Day, a time to honour armed forces members who have died in the line of duty.

    • Boasting 2,300 square metres of skating space at its new location, Edmonton's Rollers Roller Rink believes it is the largest in Canada.

    • A Cape Breton senior recalls her life in German-occupied France, and her mother鈥檚 death, during the Second World War.

    • Thousand of people gathered at the Menin Gate in the Ypres, Belgium for Monday鈥檚 Remembrance Day Ceremony.

    • A pillar in Canada鈥檚 history was honoured in Winnipeg Sunday afternoon, with thousands showing up to pay tribute to the life and legacy of the late Murray Sinclair.

    • Winnipeg police have identified two men involved in a stabbing incident earlier this week.

    • There will be two ceremonies taking place in Regina for Remembrance Day, hosted by the Royal Canadian Legion.

    • Regina author Valerie Crowther is celebrating the release of her book 鈥榃ar Letters: Linking Lives in the Second World War.鈥

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • A man has been charged after a stabbing at an apartment building in Kitchener.

    • The Guelph Police Service is putting out a warning after two deaths in the downtown area.

    • Two new tributes to Canada鈥檚 veterans have been unveiled at the Elmira Cenotaph.

    • Saskatchewan RCMP are searching for a suspect after a man was seriously injured in a farm-related incident in Montreal Lake.

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • The Regina Rams claimed the Hardy Cup after a hard fought battle against the Saskatoon Huskies 19-14 on Saturday in the first all Saskatchewan U-Sports western conference final since 2002.

    • Emergency crews responded to the scene on Road 68/Highway 2 east of Thamesford around 7 p.m.

    • On Friday, the Sarnia Police Service (SPS) received a report of an alleged abduction in the area of Kathleen Avenue and Walnut Avenue.

    • 11 AM:WATCH LIVE

      11 AM:WATCH LIVE

      The events will start at 10:15 a.m. with a parade that forms up in front of the Delta London Armories, marches east on Dundas Street and turns north onto Waterloo Street to Dufferin Avenue, the west to the Cenotaph.

    • A group of former NHL players faced off against York Regional Police officers in Newmarket Sunday afternoon to raise funds for Special Olympics programs across the province.

    • A driver is facing multiple charges after a multi-vehicle collision on Highway 400 early Sunday morning.

    • The agreed statement of facts was read to the court on Friday in the case of Alex Williams, the 24-year-old jail guard charged last fall with smuggling cannabis and tobacco into Central North Correctional Centre in Penetanguishene.

    • 11 AM:WATCH LIVE

      11 AM:WATCH LIVE

      Representatives of the Windsor Veterans Memorial Services Committee, military representatives, wreath bearers, government officials, and members of the public will attend the Cenotaph at City Hall Square for the outdoor service.

    • One person has been arrested after Chatham-Kent Police Service (CKPS) received multiple complaints about an alleged drunk driver.

    • More details have been released about a police investigation at the Ambassador Bridge that connects Windsor, Ont. and Detroit, MI.

    • Environment Canada says heavy rain and winds could cause power outages on Vancouver Island as an "intense" storm system is set to hit the B.C. coast Sunday.

    • Six deer were struck by vehicles in six different locations in a six-hour period on B.C. highways on Saturday, according to the transportation ministry.

    • The union for locked-out port workers in British Columbia says the BC Maritime Employers Association cut off talks in less than an hour Saturday, refusing to budge on a final offer that the union has so far rejected.

    • The emergency department at South Okanagan General Hospital in Oliver, B.C., will be closed for 31 hours this weekend, the second such closure in a week and the third since the start of November.

    • Police in Kamloops, B.C., are reminding parents and guardians to check their children's Halloween candy after receiving a report of a mother finding a razor blade in one of her daughter's treats.

    • More than two years after Alannah Brown and Douglas Barker were found dead north of Penticton, police are asking for help identifying a vehicle they believe was associated with the crime.

    • The Southern Alberta Recreation Association is officially announcing the Town of Taber as next year鈥檚 host for the Southern Alberta Summer Games.

    • The Lethbridge Hurricanes broke open a close game with three goals in the first two minutes of the third period as they defeated the Warriors 7-3 in a game played Friday night in Moose Jaw.

    • There might not a lot snow just yet, but many southern Albertans are still itching to get outdoors.

    • It was just days before the COVID-19 pandemic shut the world down when the Shaft Bottom Boys of Sudbury broke a world record for 'Deepest Concert Underground.' Now, more than four years later, a Timmins band is looking to take the title.

    • Police have arrested a 15-year-old in connection with a break-in and $50,000 in damage done to the Centennial Arena in Elliot Lake in September.

    • Mayors of the five largest cities in northern Ontario met in North Bay the last two days to discuss a range of critical issues impacting their cities and the region.

    N.L.

    Shopping Trends

    The Shopping Trends team is independent of the journalists at 麻豆影视. We may earn a commission when you use our links to shop.聽Read about us.

    Stay Connected
    Follow 麻豆影视