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http://www.cbc.ca/story/business/national/2006/04/11/gasoline-060411.html
Brace for high gasoline prices all summer
Last Updated Tue, 11 Apr 2006 17:55:55 EDT
CBC News
The looming summer driving season stands to be an expensive one for motorists in Canada and the United States as gas prices look to remain high.
The average price of gasoline at the pump jumped to just over $1.04 a litre this week, according to a national survey by Calgary-based MJ Ervin and Associates.
Gas prices are above $1 a litre in most markets
That's up 2.2 cents from last week's survey and was the highest price MJ Ervin has found in any April survey.
The cost of a litre of regular gas ranged from a low of 93.8 cents in Lethbridge, Alta., to just over $1.19 in Labrador City.
"With crude prices forcast to remain strong for the remander of the year, consumers can expect, on average, higher pump prices than last year," MJ Ervin analyst Cathy Hay told CBC News Online.
But unless there's another serious supply disruption like the one caused by hurricane Katrina last year, prices aren't likely to hit the record $1.26 a litre recorded in the Sept. 6, 2005, pump price survey, Hay said.
Gas hit also affects drivers in U.S.
South of the border, the U.S. Energy Department issued a seasonal forecast that predicts Americans will be paying an average of $2.62 US a gallon for regular gas this summer.
In February, the average price was $2.25 US a gallon and has been climbing since then along with the price of crude oil.
The Energy Department said its forecast assumes no unexpected supply disruptions.
"News of any developing hurricanes and tropical storms with a potential to cause significant new outages could add to [price] volatility ... in the latter part of the summer," the report said.
Despite the forecast of high pump prices, the department said gasoline consumption during the April to September driving season is expected to rise by 1.5 per cent over last year ? suggesting that prices in the United States still aren't high enough to significantly deter travelling.
Brace for high gasoline prices all summer
Last Updated Tue, 11 Apr 2006 17:55:55 EDT
CBC News
The looming summer driving season stands to be an expensive one for motorists in Canada and the United States as gas prices look to remain high.
The average price of gasoline at the pump jumped to just over $1.04 a litre this week, according to a national survey by Calgary-based MJ Ervin and Associates.
Gas prices are above $1 a litre in most markets
That's up 2.2 cents from last week's survey and was the highest price MJ Ervin has found in any April survey.
The cost of a litre of regular gas ranged from a low of 93.8 cents in Lethbridge, Alta., to just over $1.19 in Labrador City.
"With crude prices forcast to remain strong for the remander of the year, consumers can expect, on average, higher pump prices than last year," MJ Ervin analyst Cathy Hay told CBC News Online.
But unless there's another serious supply disruption like the one caused by hurricane Katrina last year, prices aren't likely to hit the record $1.26 a litre recorded in the Sept. 6, 2005, pump price survey, Hay said.
Gas hit also affects drivers in U.S.
South of the border, the U.S. Energy Department issued a seasonal forecast that predicts Americans will be paying an average of $2.62 US a gallon for regular gas this summer.
In February, the average price was $2.25 US a gallon and has been climbing since then along with the price of crude oil.
The Energy Department said its forecast assumes no unexpected supply disruptions.
"News of any developing hurricanes and tropical storms with a potential to cause significant new outages could add to [price] volatility ... in the latter part of the summer," the report said.
Despite the forecast of high pump prices, the department said gasoline consumption during the April to September driving season is expected to rise by 1.5 per cent over last year ? suggesting that prices in the United States still aren't high enough to significantly deter travelling.
