The price of a liter of regular gas has risen by 15 cents in recent hours in the Capitale-Nationale, from $1.749 to $1.899.
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Despite this significant increase, CAA-Quebec estimates that the new rate is still below the realistic price in the region ($1,914).
The latter includes the acquisition cost of $1,812 and the last year’s average retail margin of 10.2 cents.
In recent weeks, remember that Quebec has closed the door to the idea of reducing its gas tax, as in Alberta and Ontario, in order to reduce the pressure on the wallets of motorists.
Several pump price records have been recorded in recent months across the country, particularly in Montreal and Quebec.
The Legault government is of the opinion that a reduction in the tax would go once morest its environmental targets and would benefit oil companies rather than consumers since they would increase their profit margin.
Effective April 1, the suspension of the provincial gas tax in Alberta has saved motorists approximately 11 cents per litre. On the Ontario side, the rebate should be 5.7 cents per liter as of July.
In March, Ottawa asked the Competition Bureau to set up teams to monitor the market and prevent it from having “collusion and unfair practices” with gas prices.
The surge in pump prices might continue for the next few weeks.
In a recent interview with the CP24 network, the president of Canadians for Affordable Energy, Dan McTeague, predicted a price of $2 per liter in certain Canadian regions starting in June.
–With QMI Agency
More details to come…