Cap and trade will likely affect more than price of gas

Kingston, ON, Canada / CKWS TV

Last month the City of Kingston announced a milestone when it comes to transit riders.

The serviced reached more than 5 million fares during the 2016 calendar year.

And in 2017, that number may be even higher if gas prices continue to rise.

Steve Clark: “The Provincial Government appears again to be out of touch between urban Ontario and rural Ontario. It’s the rural residents that are feeling that increase drain.”

Internet memes blaming Kathleen Wynne for the bump at the pumps have been circulating for months leading up to the launch of the province’s new Cap and Trade program.

The program aims to curb carbon emissions and will add 4.3 cents a litre to the price of gasoline.

Dan McTeague/ “I don’t think it’s going to cut people back, especially in markets where there really is no alternative.”

“My wife and I don’t do a lot of driving as it is, so the increased price of gas is probably not going to impact us.”
“I’m a student. It’s expensive to have a car, and if the price of gas keeps going up then I’m not going to be driving.”
“We live in the suburbs so to take alternative transportation would be ridiculous and take forever to get anywhere.”

Prices at the pumps will also be impacted by OPEC’s decision to reduce the amount of crude oil being produced, creating a higher demand.

Dan McTeague/ “At some point in 2017 – that could send crude prices into the 65 dollar range. In which case we’re now looking at gasoline prices into February, March and April more into the 118 to 120 range.”

The higher price of oil won’t just affect what you pay to gas up.
Shipping costs are sure to take a hit – and since most of our goods and services are shipped by transport – every day essentials will likely cost more as well.

Comments are closed.

Top Stories This Week