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Gas prices have jumped 10% year-over-year on average in Canada - YAHOO FINANCE
Gas prices are 10 per cent higher year-over-year on average in cities across Canada, according to data from Kalibrate.
The Canada-wide average price added two cents between Jan. 30 and Feb. 6, reaching $1.624 per litre of regular fuel. Kelowna, B.C. and Winnipeg saw the biggest price jumps over this seven-day stretch. Red Deer, Alta. drivers got the biggest weekly discount.
At this time last year, the nationwide average price was $1.474 per litre.
Earlier this week, U.S. President Donald Trump and Canada's federal government agreed to a 30-day pause on a potential trade war. Economists and industry experts have warned that any such trade war would send gas prices soaring on both sides of the border.
On Thursday, Bank of Canada Governor Tiff Macklem said Trump's tariff threats are already impacting businesses and households.
"The longer this uncertainty persists, the more it will weigh on economic activity in our countries," he said while virtually addressing a conference held in Mexico City.
