PG gas prices likely to see four cent rise

Starting tomorrow (Saturday), BC’s carbon tax will be increasing, which means you will be shelling out more to fill up your vehicle in Prince George.

Fuel prices are expected to reach a dollar sixty-six per litre. Right now, it’s roughly 161.9 at most stations.

Canadians for Affordable Energy President, Dan McTeague recently spoke with MyPGNow.com on the price spike.

“It is a very unpleasant increase. Once again, it is a weather tax that won’t change anything except to line the coffers of provinces and the federal government that seems to have other priorities when it comes to spending money that many of us are finding harder to earn.”

“The carbon tax hits diesel much harder than gasoline. It goes up by 4.01 cents per litre plus GST – so that makes it 4.3 cents per litre and that took will mean over a buck-seventy-five at the pumps if nothing else changes.”

McTeague believes this is the tip of the iceberg as prices will jump even higher by the summer.

“Come June, right after the May long weekend I think we can expect prices to hit their back by about 20 cents more per litre than what we are paying today. Look for a dollar eighty-five in Prince George, Vanderhoof, and all throughout BC’s Interior.”

For the past several months, McTeague believes energy markets are driven by speculators, money managers, hedgers and financial wizards who have really fallen for the head-fakes.

“Things like a banking crisis, interest rates and demand destruction. The abuse by the Biden Administration of its super petroleum reserve. All of these things had one unfortunate outcome and that was to prevent the capacity to grow for oil and gas.”

Costco remains the cheapest place to fuel up at 157.9.