Thought of the Day - October 19 - Gas Prices, Harbinger of Inflation

Way back in in April we talked about the low gas prices ( Thought of the Day - April 22 - Gas Is Now Free ). After a rebound in the summer, gas has now settled in to be about 65 cents, before tax, here in BC. That said, in 2021 things will change. As various levels of government realize they have a budget shortfall, gasoline tax is an easy target. With "staycations" "de rigeur" gas taxes are sure to follow. Call it whatever - carbon tax, sin tax, or excise tax, there have been discussions at the Federal level for as much as an additional $0.69/litre levy, and the provinces are not far behind.

So, like we said back in April, if you happen to a have an oil barrel handy you might want to stock up on fuel.

Cheers

Cliff