Gas prices in Canada are expected to hit $1.65 per litre in the new year, according to one expert.
“The price is going to be a lot higher than they are now,” said Dan McTeague, president, Canadians for Affordable Energy.
Currently, the price at the pumps is hovering at about $1.40.
“By the end of February to June there will be a 25% increase,” said McTeague, who is known on Twitter as the @GasPriceWizard
He says the problem is there is a lack of oil production to meet the demand.
“By 2024, all hell will break loose,” he said. “Economists are tip-toeing around and don’t want to talk about it.”
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