You may have noticed that gas prices have gone up in the Napanee area.
The average price for a litre of regular gas across town on Wednesday was $1.32.
The hike in gas prices is largely being blamed on the conflict in Iran. Airstrikes have impacted oil shipments going through the Strait of Hormuz.
In a post on X, President of Canadians for Affordable Energy Dan McTeague says gas prices are expected to go up by another 3 cents/litre on Thursday (5th). Diesel could jump as high as 13 cents/litre Thursday after an 11-cent spike on Wednesday.
McTeague says the rising cost of fuel will eventually hit all of us in the pocketbook.
He says most people don’t realize how the cost of groceries is connected to the gas prices.
McTeague also worries about inflationary pressures, potentially leading to the Bank of Canada refusing to drop interest rates any further.
Story by Ken Hashizume
