this post was submitted on 17 Aug 2023
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This is the best summary I could come up with:
Gas prices are expected to reach an annual high this summer across Canada and into fall, with more than one factor causing the increase, experts say.
The July Consumer Price Index (CPI) report from Statistics Canada "mainly" blamed an increase in inflation on gasoline.
Michael Manjuris, professor and chair of Global Management Studies at Toronto Metropolitan University, told CTVNews.ca in an interview poor weather and a lack of supply are to blame.
One factor behind higher gas prices, Manjuris said, is a recent decision from the Organization of the Petroleum Exporting Countries (OPEC), which controls crude oil supply to most of the world.
Manjuris says some weather factors, like extreme heat, will not be an issue in the next few months, however, gas prices will remain elevated.
The heightened prices have been climbing for the past six months, Pedro Antunes, chief economist at the Conference Board of Canada told CTV News Channel Tuesday.
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