If the Gas Wizard forecast proves accurate, it would represent a more than 7% price increase in less than 24 hours.
After a late-summer dip, gas prices in British Columbia's biggest urban area are once again forecast to climb over $2.00 per litre.
Global fuel prices spiked across the world following the Russian invasion of Ukraine in late February, adding to record inflation rates not seen in decades. Experts say inflation has been compounded by a number of extreme weather events around the world as well as continued supply chain disruption due to the COVID-19 pandemic.
The latest fuel price forecast comes as Statistics Canada released its latest data on the country’s annual inflation rate, which sunk to 7.0 per cent in August largely on the back of falling fuel prices. Metro Vancouver among highest gas prices in Canada While gas prices were expected to climb over $2 per litre in Metro Vancouver Wednesday, in Toronto, the price per litre was forecast to remain steady at 148.9 cents, and in Montreal at 164.9 cents.
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