Even if you don’t drive or own a diesel vehicle, surging prices for diesel at the pumps can affect your spending. Diesel prices are sitting at an all-time record high, and are expected to rise to $2.56 a litre on Saturday, according to Canadians for Affordable Energy president Dan McTeague. “We’re really in uncharted waters as far as energy prices are concerned because, while gasoline is stable to an extent, diesel prices are surging ahead,” he told CTV News Ottawa. McTeague says that diesel is the “fuel that drives your economy,” noting transportation, manufacturing, and agriculture all depend on the fuel. “Without diesel, you don’t have EVs, you don’t have groceries, you don’t have air transport, maritime transport, truck transport, rail transport,” McTeague said. He said diesel prices went up nine cents a litre on Friday and are expected to go up another nine cents on Saturday. “Fasten your seat belts. What happens to diesel is going to very much determine our economic fortunes going forward,” McTeague told CTV News Ottawa. “Ignoring the fact that it’s hitting high prices, you know, exceptionally record high prices means it could have a knock on major disastrous effect for most consumers in the coming months, especially now when diesel use starts to go through the roof as a result of colder weather and farmers taking off their crops.”
