Recently in Timmins, gas prices surged by more than 12 cents per litre in a single day. Meanwhile, drivers in Vancouver are now paying more than $2 a litre. Gas price analyst and former MP Dan McTeague said the price spikes are largely tied to geopolitical tensions involving Iran. He warned that oil prices could climb even higher due to potential disruptions in the Strait of Hormuz. McTeague said that domestic challenges are also contributing to higher prices. He said limited investment in Canada’s energy sector is putting additional pressure on supply and costs. He encouraged Canadians to track fuel price trends through his website and to advocate for government action, including tax relief. “Adding our voices to the pitch that governments are going to have to do something,” McTeague said. “And that is to have the federal and provincial government suspend the HST -- 13 per cent…when you’re paying $2 a litre, that alone would save 26 cents a litre.” McTeague said that Sudbury is among the 53 Canadian cities where he provides regular gas price forecasts on his website.
