Marc London and his wife are touring the eastern seaboard in their motorhome. With diesel at 241.6 cents a litre after a 3 cent-a-litre hike Friday, their 280-litre fill-up cost the Florida couple almost $700. “We knew what they were going to be, so it wasn’t too much of a shock. Not happy about it, but it is what it is,” London says. Friday’s diesel price is the highest since top-ups cost 243.7 cents a litre in early April. With the global economy sending goods by planes, ships, trains and trucks, high diesel prices translate into higher prices across the board. “There is nothing that the world needs more than that fuel. Everyone is focussed on gasoline, but diesel is the one that moves the economy,” says petroleum analyst Dan McTeague. “It’s the global workhorse. No economy functions without it and if you don’t have enough diesel.” The president of Canadians For Affordable Energy anticipates prices will continue to rise as we approach fall and winter. Potentially hitting all-time highs across the board. “Gasoline too will probably reach its highs. We haven’t seen that just yet but it’s only a matter of time,” McTeague says. With no end in sight to the war in Iran and with the strait of Hormuz still closed, McTeague says we could be reaching those record highs next month. That’s one of the reasons Jordan Conway has ditched his car for his motorcycle. “It cost $11 to fill out my tank on my motorcycle and I can go approximately 160 km,” he says. That’s one way to cut costs, as motorists prepare to dish out more at the pumps.
