Gas prices in Prince George could head north of a dollar-seventy a litre as early as next week.
That’s according to Dan McTeague with Canadians for Affordable Energy who noted some PG stations saw a nine cent hike at the pumps today (Wed) rising to a 163.9.
McTeague told MyPGNow.com even if the Russian invasion of Ukraine ended in the near future, any relief we would see at the pumps would be short-lived.
“I think there is a 15 cent a litre war premium attached to this. You would be back down to the high one-forties, low one-fifties but, no sooner would that happen than at governments are helping themselves to increases in carbon taxes.”
“The fundamentals are the world has turned its back on production and capital for oil and gas and as a result, playing a very serious game of catch up, which many people are reluctant to engage in.”
McTeague added that rising fuel prices will have a trickle-down effect on other everyday items.
“Let me be really blunt, this is going to have an impact on the price of food and it’s going to have an impact on driving your EV (electric vehicle) because, at the end of the day, all these things have one thing in common, the embedded price is the price of oil, gas and diesel if you like it or not.”
“The idea of a great reset and build back better has proven to be absolutely false.”
In simple terms, McTeague is of the opinion Canada’s push to be more environmentally friendly is coming back to haunt us.
“Canada has oil, has the ability to produce oil and it could really displace and replace over time Russia. We’ve spent a lot of time in this country shutting down pipelines and those shortsighted, poorly times and poorly thought out strategies are now starting to come to hurt Canadians.”
“If the Canadian dollar were to reflect Canadians actually selling oil, having pipelines built for natural gas and oil we would be saving 18 cents a litre. For those of you who think this is no big deal and don’t have a problem paying, fine – but for the rest of us, we have to read’em and weep.”
Costco remains the cheapest place to fill up at 151.9 cents per litre.
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