Ottawa, Ontario – Canadians are feeling the effects of gas prices, which have risen close to record levels this week, according to the Canadian Automobile Association (CAA). The high prices are “the result of the continuing rise in the global price of oil,” the Association said.
Five years ago, Canadians were paying approximately 65 cents per litre, while a barrel of oil was under US$30. The price of oil started yesterday at US$109.72 per barrel, with Canadians paying up to $1.20 per litre at the pumps. That price is predicted to rise in the coming weeks and months.
“As the price of oil continues to increase, our 5.2 million members and the 80 per cent of Canadians who depend on their vehicle each day are feeling the pinch,” said CAA president Tim Shearman. “The reality in this country is that Canadians rely on their cars to get to work, to drive their kids to hockey practice, or to operate their businesses and this is one more way that Canadians are paying more today to live their lives.”
The CAA is also calling on the government to reinvest the unprecedented gas taxes collected into roadway infrastructure. “If consumers are going to pay more at the pump, then it is the government’s responsibility to ensure that the increased revenue collected is invested in roads, highways and public transit,” Shearman said.