Gasoline continues to rise in some parts of Canada on Saturday after a increase of about 13 cents the day before. Around the Toronto area, the average price was more than $1.38. An oil industry observer, Liberal Dan McTeague, states that the increase of oil was due to the Huricane Ike. "The Colonial Pipeline that supplies most of northeastern United States has just closed in Houston, Texas, as a result of the hurricane," McTeague had said. Even so, McTeague suggests that the gasonline prices will continue to rise even after the weekend. Mcteague also points out that since there is no competition between oil companies, they are capable of creating any price for any excuse they want. Similarly, Mel Fruitman, vice-president of the Consumers' Association of Canada, blames oil companies for simply gaining profit on the recent events. In McTeague's opinion, the rise in prices can be involved with the fears over hurricane Ike, but the oil industry itself is also partially responsible.
With gasoline continuing to rise, car industries may slowly decrease in business. Middle-class citizens who strive to own a car, have no choice but to buy one that conserves oil lest their money eventually be consumed by the oil prices. The more expensive and gasoline devouring cars such as the four-wheeled drive, SUV and pick-up trucks may reduce down to smaller businesses. The production of solar powered cars may begin to mass produce, but the middle or lower-class may have problems obtaining such an expensive car. To keep up with such oil prices even with a smart car may prove difficult for some in the society.
http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080913/gas_prices_080913/20080913?hub=Canada
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