Gas prices are about to hit records and it could get worse: Roger McKnight
Canadian drivers are in for more pain at the pumps, according to a gas price expert.
En-Pro International Chief Petroleum Analyst Roger McKnight sees gas prices rising yet again next week in all of the major Canadian cities he tracks. In Vancouver alone, he sees pump prices hitting as high as $1.71 per litre.
“There’s no end to the misery right now as far as the consumer is concerned," McKnight said in an interview Friday. "There’s nothing to stop higher gas prices unless demand falls off the table, and I don’t see that happening."
McKnight called it a “necessary evil” since most drivers have no choice but to pay up because of a lack of viable alternatives.
“There’s a lot of squawking, a lot of clickbait on websites and threats of boycotting, but really, what’s your alternative?" he said.
"It’s a necessary evil and everybody realizes that. The big thing is to go to your federal MPs and ask about cutting back on the [carbon] taxes but that’s a sacred cow that the government won’t listen to."
While global automakers have been ramping production of electric vehicles, adoption in Canada remains low.
Statistics Canada data shows 54,353 zero-emissions vehicles were newly registered nationwide in 2020 — down by 1,812 compared to 2019.
Zero-emissions vehicles accounted for a mere 3.5 per cent of the overall registrations in 2020.
McKnight said government subsidies are not enough and there are still a number of barriers deterring people from buying electric cars.
“If [electric vehicles] were available at a reasonable price and the infrastructure was there for them to be fueled for long distances at low temperatures, I think the consumer would jump on it," he said. "But right now, only fossil fuels are reliable and the price is the price."